Who is eligible for Public Bank BAE Personal Financing-i?
Only employees of Government and selected Government Linked Companies may apply for this personal loan product.
How much money can I borrow?
Public Bank’s BAE Personal Financing-i provides personal loans of RM5,000 to RM150,000, with repayment terms between two to ten years.
Applications are credit checked before Public Bank approves a loan amount. To give you an idea of the borrowing limit, in most cases your fixed monthly repayment should be less than 60% of your monthly salary.
How much does this personal loan cost?
Public Bank charges a processing fee of RM100 and Stamp Duty calculated as 0.5% of the total amount borrowed. Further administration charges vary according to the amount that you are borrowing and the type of Security Documents you need to provide.
What do I need to apply for this personal loan?
No deposit, guarantor or collateral is required when making a BAE Personal Financing-i application, this is unsecured personal loan. You will only need to provide a few supporting documents:
- Copy of NRIC (front and back).
- Latest 3 month’s salary slips or EPF statements.
- Letter from Employer confirming position and salary.
How do I get my hands on the money?
Loan approval takes a few business days to process. Once approved your borrowed funds will be transferred to the Public Bank account of your choice.
How do I pay the money back?
Installments must be deducted directly from your monthly salary until the loan is cleared.
Can I pay my Public Bank BAE Personal Financing-i loan off early?
Yes, you can settle your loan at any time. There is no early termination fee.
Is Public Bank BAE Personal Financing-i Syariah compliant?
Yes, this personal finance product is compliant with the Bai Al-Einah Syariah standard.