Public Islamic Bank Home Equity Financing-i

The home loan products offered by Public Islamic Bank are Islamic Shariah-compliant home financing packages. Public Islamic Bank's best product is the full-flexi Home Save-i package, which comes with a linked current account. Keep extra funds such as savings in this current account to reduce the interest payments on your home loan.

Withdrawals can be made flexibly at no cost or redrawal fee. Other packages include the Home/Term Equity Financing-i, which is a basic term loan with the option of a redraw facility. ABBA Financing-I is a variable rate home loan with the same optional redraw facility. 5 Home Loan comes with an option for fixed rate Islamic financing, and has a zero entry cost option.

Public Islamic Bank Home Loan comes with a lock in period of 3 years. If you refinance or sell your property within a 3 year period, you will need to pay an additional 2% of the outstanding loan amount to the bank. One of the biggest contributing factors to the success of your mortgage application, is your total monthly commitment inclusive of this loan whereby your monthly commitment should not exceed 60% of your monthly net income.

To help you to plan for your loan commitment, we have prepared a Public Islamic Bank home loan calculator for you. To begin using the Public Islamic Bank home loan calculator, you will need to insert the loan amount and loan duration. The Public Islamic Bank housing loan calculator will display the interest rate that you will incur on your home loan and the monthly loan repayment.

Public Islamic Bank offers property financing based on Musharakah Mutanaqisah and Bai Bithaman Ajil specifically designed for Islamic banking costumers. The main features of their packages are summarized in this table for you to compare.

Product	Key Features	Is this a flexi package?
Home / Term Equity Financing-i	Islamic term financing package Option of redraw facility For financing and refinancing of completed and under construction properties	Yes, semi-flexi
ABBA Financing-i	Variable rate Islamic home financing package Option of redraw facility For financing and refinancing of completed and under construction properties	Yes, semi-flexi
Home Save-i	Reduce interest payments by depositing extra amounts into your linked current account Flexible withdrawal of deposit amounts	Yes, full flexi

A borrower can make extra monthly repayments to reduce the interest that is being charged on their outstanding loan amount every month (hence reducing overall interest incurred for the home loan) through Flexi home financing packages. The requirements, fees and conditions of these flexi home loan packages should be considered alongside their benefits.

	Home / Term Equity Financing-i	ABBA Financing-i	Home Save-i
Flexi type	Semi-flexi	Semi-flexi	Full-flexi
Is a linked bank account required?	No	No	Yes
Account Maintenance Fees	No	No	RM10/ month
Redrawal Fees	RM50	RM50	-
Redrawal Terms & Conditions	-	Minimum redrawal RM5,000	-

Public Islamic Bank home loans are open for all Individual and joint applicants above the age of 21 years old.

Application for Public Islamic Bank home loan will need to be accompanied with some supporting documents in order for the bank to process your application. Some of the documents are:

• Application Form
• NRIC / Identity Card
• Copy of Sales and Purchase or Booking Receipt or Letter of Offer from Developer
• Copy of Individual Title Deed
• Property Valuation Report (for completed properties)
• Latest 3 consecutive months of salary slips / vouchers
• Latest 6 consecutive months of commission statement
• Latest EPF statements (with 3 consecutive months or more transaction history)
• Latest EA form
• Latest 6 months Bank Statement
• Letter of Confirmation of Employment and Remuneration

You can calculate your monthly repayments based on your desired property value and loan amount using the Public Islamic Bank home loan calculator. Once you have obtained your desired loan amount, you can apply through iMoney and our mortgage consultants will call you back. Home loan application through iMoney is absolutely free of charge. If you are not sure whether Public Islamic Bank home financing is your best option, click here to compare other home loans in Malaysia.

Public bank has an extensive branch network, making repayments more convenient. Apart from branches, customers are able to repay home loans through ATM machines and online banking. All repayment methods listed below:

Online Transfer
: Transfer funds from your Public Islamic Bank Bank Savings or Checking accounts to make your payments online

MEPS
: Pay your loans at any of the MEPS ATMs (over 5,000) nationwide

Interbank GIRO
: Pay your loans through the Interbank GIRO fund transfer at the participating bank's branch or through online banking

Standing Instruction Facility
: Automatic deduction from your bank account every month

Public Islamic Bank ATMs
: Transfer funds from your Public Islamic Bank Savings or Checking accounts to make your payment at all Public Islamic Bank branches

Express Payment machine
: Make a check or cash deposit at Public Islamic Bank branches

Payment by Mail
: Mail to Public Islamic Bank with your check and statement enclosed in an envelope

Phone Banking
: Issue instructions to have your bank account deducted to pay for your home loan with your T-PIN