Public Bank MORE Plan (conventional)

Up to 40 years

Semi-Flexi loan

Floating Interest Rate

5 years lock in period

Up to 90% margin

30 days approval


Borrowing RM Monthly Repayment
RM


Profit Rate

%
How Long Year
max 35 Year
Flexi/Term Lock in Period Islamic or Conventional
All Flexi Term All Yes No All Islamic Conventional

Public Bank MORE Plan

Pay minimal fees and get an attractive interest rate when you refinance your home! Enjoy a free Public Bank credit card, cash withdrawal, and overdraft serivices.

    • Up to 40 years
    • Semi-Flexi loan
    • Floating Interest Rate
    • 5 years lock in period
    • Up to 90% margin of finance
    • 30 days approval
    •  
  •  

You Borrow

Estimated Interest Rate

more than RM100000

4.22% p.a.

  • *Effective interest rate will be determined by Public Bank upon approval.

 

Fees & Charges

There are always fees but how much are they?

Late Penalty Fee - 1% p.a. of the outstanding amount

Withdrawal Fee - RM53.00 for each withdrawal

Processing Fee - RM212.00

Early Settlement Fee - Subject to terms of agreement with bank

Redemption Letter Fee - RM53.00 per request

Letter for EPF Withdrawal Fee - RM21.20 per request

*inclusive of 6% GST

 

Requirements

Are you eligible for this Public Bank home loan?

Minimum annual income - RM24000

Minimum age - 21 years old

Maximum age - 70 years old

Who can Apply - Any nationality

 

Frequently Asked Questions about Public Bank MORE Plan

Things you might want to know

 

What is the Public Bank More Plan all about?

Planning to renovate your house but lack the funds? Having difficulty paying for your child’s education fees? Not to worry, Public Bank More Plans lets you refinance or restructure your existing home loan. You don't need to have a Public Bank mortgage already, you can refinance from any bank. This plan has a variable rate and is a semi-flexible loan. You can choose either a term loan, an overdraft account, or both.

 

What is the difference?

The term loan MORE version works just like a normal conventional term loan, where you pay a fixed monthly repayment with no processing or monthly fees. You can bank in extra to reduce the loan principal, and withdraw from that account whenever you want (will cost you RM50 for each withdrawal).

As for the overdraft and withdrawal service, it only kicks in if your home loan is greater than RM100,000. You'll only pay interest on the OD once you start drawing out cash - with that interest being calculated daily.

 

Any sign up offers?

Get a free credit card for the entire loan period and RM10000 of free personal accident cover for the first year when you sign up for this home loan.

What are the fees and charges I have to pay?

That depends on which option you choose, really. For a term loan, you pay close to zero fees except the usual stamp duty and legal and disbursement fees. If you choose an overdraft or a combination of both, the bank will charge you RM10 every 6 months at end of June and Dec on top of the usual stamp duties, legal and disbursement fees.

 

Do I need to pay for any insurance?

A Fire Insurance policy is compulsory. If your property has a master group insurance you can ask for a refund if you write to the bank. MRTA is optional and the one time premium can be included in your home loan.

 

What kind of documents do I need to apply for this home loan?

Completed Application form
A copy of SPA / Booking Receipts / Letter of Offer from Developer
Copy of NRIC (front and back) or latest valid passport & Visa / Work Permit / Employment pass

If you are an employee earning a salary

  • Latest 3 to 6 consecutive months salary slips or vouchers
  • Latest EA From

And any of the following:

  • EPF Statement ( latest not more than 1 year) or
  • Latest Tax Returns and Tax Receipts or
  • Employment Letter or
  • Last 3 months Bank Statement or Saving Passbook
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If you are self-employed

  • Business Registration Certificate – Form 24 and Form 49
  • Last 6 months bank statements
  • Latest 1 year Tax Returns and Tax Receipts