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Public Bank Personal Loan Benefits

Achieve Your Goals with Public Bank Personal Loan

Whether you need extra cash for home renovation, education, wedding, travel, or any other personal needs, Public Bank has the right solution for you. With Public Bank personal loan, you can enjoy:

  • Fast approval and easy application process.
  • Low profit rate from 4.88% p.a.
  • Flexible repayment tenure from 2 to 10 years.
  • High financing amount up to RM200,000.
  • No guarantor required.
  • Hassle-free payment option via salary deduction.

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A Complete Guide For Public Bank Personal Loan 2023

Are you looking for a personal loan from a Malaysian bank? A Public Bank personal loan might be the one for you. In this review, we will take a closer look at its personal eligibility requirements, the application process, main features, advantages, and more.

What is a Public Bank Personal Loan?

Public Bank Personal Loan is an unsecured loan that allows customers to borrow money without the need for collateral for many years. It comes with a fixed interest rate, meaning the monthly repayment amount will remain unchanged throughout the loan tenure.

Are you planning to renovate your home or go on a dream personal vacation? Do you need extra cash to pay for your child’s education? Or do you need to pay for your travel insurance? Whatever your financial needs are, a personal loan can help you achieve your goals. With this loan, you can borrow up to RM 150,000 and repay it over 6 to 120 months, depending on your financial situation and repayment capacity.

One of the advantages of a Public Bank Personal Loan is that it offers the customer a flexible repayment schedule. You can choose to make monthly repayments via auto-debit, standing instruction, or even over the counter at any Public Bank branch. It allows you to manage your finances and ensure you never miss a payment.

Another benefit of a Public Bank Personal Loan is its quick and easy application process. You can apply online or visit any Public Bank branch to submit your application for personal financing. The bank will review your application and inform you of the outcome within a few business days. If your application is approved, the money will be disbursed to your account within 24 hours.

Moreover, the personal loan offers a competitive interest rate, making it an affordable option for customers to register a banking account with Public Bank and borrow money. The interest rate is fixed throughout the loan tenure, so you do not have to worry about fluctuations in the market.

Overall, personal financing from Public Bank is an excellent option for those who need extra cash to achieve their financial goals for many years. With its flexible repayment schedule, quick application process, and competitive interest rates, it is a loan that can help you manage your finances and achieve your dreams. You don’t need to have credit cards in this bank; just apply for this personal financing if you desire it today!

What are the Features of the Public Bank Personal Loan?

A personal loan is one of the most popular financial products offered by Public Bank, a leading financial institution in Malaysia, for years. This loan is designed to meet the diverse financial needs of individuals, from financing a wedding to making a deposit on a home in a few months. 

Here are some additional features that make Public Bank Personal Loans an excellent option for borrowers:

  1. Hassle-free application process: Applying for a personal loan from Public Bank is easy and hassle-free. You can apply for the loan online or at any Public Bank branch. The loan application process is straightforward, and you can get approval within a few public days.
  2. Competitive interest rate: Public Bank Personal Loan offers a competitive interest rate that is fixed throughout the loan tenure. It means that you do not have to worry about fluctuations in interest rates, making it easier to plan your finances.
  3. No collateral required: Public Bank Personal Loan is an unsecured loan, meaning you do not have to provide any collateral to secure the loan. It makes it an ideal option for individuals with no assets to pledge as collateral.
  4. Flexible repayment options: Public Bank Personal Loan offers flexible repayment options, allowing you to choose a loan tenure that suits your financial situation. Depending on your repayment capacity, you can choose a loan tenure in many months or years, even from 1 to 10 years. This flexibility ensures you can manage your finances effectively and avoid defaulting on your loan.
  5. Loan protection insurance: Public Bank Personal Loan offers insurance that covers unforeseen circumstances such as death or disability. This insurance ensures that your loan is paid off in full, providing peace of mind to you and your loved ones.

What are the Advantages of Public Bank Personal Loans?

No Collaterals or Guarantors Required

One of the most significant advantages of the Public Bank Personal Loan is that it doesn’t require any collateral or guarantor. It means you don’t have to put up any of your assets as security for the loan. It makes the loan more accessible to a broader range of people, especially those who don’t have any assets to pledge as collateral.

Fast Approval Process if You Have a Good Credit Score

Another advantage of the Public Bank Personal Loan is its fast approval process. The bank has streamlined the application process to make it quick and efficient. You can apply for the loan online or at any Public Bank branch, and you can get approval within 24 hours if you meet the bank’s eligibility criteria. It is an excellent advantage for those who need the funds urgently.

Low Monthly Installment Payment

The Public Bank Personal Loan also offers low monthly installment payments. It means that you can borrow the amount you need and pay it back in small, manageable installments over a longer period of time. It makes it easier to budget and plan your finances and helps you avoid any financial strain or stress.

What are the Eligibility Rules to Apply for a Personal Loan from Public Bank?

  • Applicants must be Malaysian citizens or permanent residents aged between 21 and 60 years old.
  • This personal loan is open to all Malaysians and permanent residents aged between 21 and 60. If you are a Malaysian or permanent resident within this age bracket, you can apply for personal financing from Public Bank. The minimum monthly income required is RM 2,000.
  • The Public Bank Personal Loan requires a minimum monthly income of RM 2,000. It means that you must earn less than RM 2,000 per month to be eligible to apply for the loan. However, if you earn more than RM 2,000 per month, you can apply for the loan for your personal purposes and enjoy the benefits that come with it. Applicants must have a good credit score and no bad records with any financial institution.

One of the eligibility requirements for the Public Bank Personal Loan is that applicants must have a deposit or a good credit score and no bad records with any financial institution. It means that if you have a deposit and a good credit score and have not defaulted on any previous loans or debts, you are more likely to be approved for the loan. However, your application may be rejected if you have a poor credit score or have a history of defaulting on loans.

How to Apply for a Loan from Public Bank for Personal Purposes?

Applying for a personal loan can be daunting, but with Public Bank, it’s easy and hassle-free. Their personal loan offers flexible repayment terms and competitive interest rates, making it a popular choice among Malaysians. Here’s a step-by-step guide on how to apply for personal financing from Public Bank Personal Loan:

  1. Check Your Eligibility: Before applying for personal financing, you must check if you meet the bank’s eligibility criteria. Public Bank requires applicants to be at least 21 years old with a minimum monthly income of RM 3,000.
  2. Prepare the Necessary Documents: Once you have checked your eligibility, you need to prepare the necessary documents. These include your MyKad, latest payslips, EPF statement, bank statements, and credit card, if any. Ensuring that all the personal information provided is accurate and up-to-date is important.
  3. Choose Your Loan Amount: Public Bank offers personal loans ranging from RM 5,000 to RM 150,000. Choose a loan amount that suits your needs and repayment capabilities.
  4. Fill in the Application Form: You can either fill in the application form online or visit any Public Bank branch near you. Ensure that you provide accurate personal information and double-check before submitting the form.
  5. Wait for the Bank to Process Your Application: After submitting your application, the bank services will take a few business days to process it. During this time, they will verify the information provided and conduct a credit check. It is important to note that a high credit score increases your chances of getting approved for a loan.
  6. Receive Your Loan: If your application is approved, the bank will disburse the loan amount into your designated bank account. You can then use the funds for any purpose, be it for home renovations, education, or debt consolidation.

Applying for a personal loan can be a great way to finance your dreams and aspirations. With Public Bank’s easy application process and a competitive interest rate on the bank date, you can make your dreams a reality. So why wait? Apply for a Public Bank Personal Loan today and take the first step towards achieving your personal goals!

Conclusion

Public Bank Personal Loan is a suitable option for individuals who need quick cash without collateral. However, it is essential to note that late payments may result in additional charges and affect your credit score. Always borrow within your means, and repay your loan on time.

FAQs

What is the minimum loan amount of Public Bank personal loan?

The minimum loan amount for Public Bank Personal Loan is RM5,000.

What is the minimum age for the loan?

The minimum age for Public Bank Personal Loan is 21 years old.

What happens if I make late payments?

Late payments may result in additional charges and affect your credit score.

Is there a processing fee?

Yes, a processing fee for a Public Bank Personal Loan is 1% of the approved loan amount.