Public Bank Personal Loan: How to Complete an Online Application

You can apply for a Public Bank Personal Loan online through the bank’s official platform at apply.pbebank.com/bae-ag-personal-financing-i. The process allows you to enter your details, upload documents, and submit the application digitally without going to a branch. You can also check eligibility and track approval status online.

Public Bank currently offers two main personal financing products: BAE AG Personal Financing-i and PLUS BAE Personal Financing-i. Both personal loan products designed primarily for government employees and existing customers. These loans provide up to RM150,000 in financing, with repayment periods of up to 10 years. Profit rates start from 3.99% per annum, depending on tenure and applicant profile. To qualify, applicants need a minimum monthly income of RM1,500 and proof of permanent employment in the public sector.

What Are the Types of Public Bank Personal Loans Available?

Public Bank provides two Shariah-compliant personal financing products tailored to different borrower groups, BAE AG Personal Financing-i and PLUS BAE Personal Financing-i.

BAE AG Personal Financing-i

BAE AG Personal Financing-i is specifically designed for government employees and staff of statutory bodies. It offers financing of up to RM150,000 with a fixed profit rate and a repayment mechanism via salary deductions through Biro Perkhidmatan Angkasa (BPA). This makes it especially convenient for public sector workers, as repayments are automatically managed through their monthly salaries.

PLUS BAE Personal Financing-i

PLUS BAE Personal Financing-i is for existing Public Bank customers who have a solid repayment history. This option comes with similar terms to the BAE AG scheme, including fixed profit rates, financing up to RM150,000, and flexible repayment tenures ranging from one to ten years. Both financing options also provide the choice of Takaful protection, do not charge processing fees apart from the 0.5% stamp duty, and allow early settlement without penalties, giving borrowers greater flexibility and cost efficiency.

Who Is Eligible for a Public Bank Personal Loan?

Public Bank Personal Loans are open to Malaysian citizens between the ages of 20 and 58, with eligibility tailored to specific groups of borrowers. For the BAE AG Personal Financing-i, applicants must be government or statutory body employees holding permanent positions and earning at least RM1,500 per month. Meanwhile, the PLUS BAE Personal Financing-i is reserved for existing Public Bank or Public Islamic Bank customers who have demonstrated a solid repayment record with the institution. In certain cases, salary crediting through Public Bank is also a requirement for eligibility.

Self-employed individuals and most private sector employees are generally not eligible unless they fall under pre-approved categories or meet specific bank requirements. Applicants will need to provide supporting documents such as a copy of their NRIC, recent salary slips, an employment confirmation letter, and a completed Biro Perkhidmatan Angkasa (BPA) form where salary deduction applies. These conditions help ensure that financing is offered to applicants with stable employment and repayment capacity.

What Are the Interest Rates and Fees for Public Bank Personal Loans?

Public Bank Personal Loan rates for the BAE AG Personal Financing-i start as low as 3.99% per annum (flat profit rate), with actual rates varying depending on the applicant’s loan amount, repayment tenure, and profile. The bank does not charge processing fees, though a 0.5% stamp duty on the approved financing amount, plus an RM10 fee on the Letter of Offer, is applicable. In the event of late repayment, a 1% per annum penalty applies to the outstanding balance. Early settlement is permitted without penalty, and the bank provides a rebate on unearned profit (commonly referred to as an Ibra’) based on the remaining tenure when the financing is paid off ahead of schedule.

To illustrate, on a RM50,000 loan over a 5-year term at a 4.5% profit rate, the total financing cost would amount to roughly RM11,250 in profit. Public Bank makes detailed breakdowns available through its product disclosure sheet during the application process, ensuring transparency. Borrowers can also opt for Takaful coverage, which incurs an additional premium to provide protection against unforeseen circumstances.

What Documents Are Required for the Online Application?

For an online application, Public Bank requires applicants to provide several key documents to support their personal financing request. The core requirements include a clear copy of the applicant’s MyKad/NRIC (front and back), the latest three months’ salary slips, and a confirmed employment letter from their government department or statutory body employer. Government employees are also required to complete and submit a Biro Perkhidmatan Angkasa (BPA) salary deduction form, which authorizes Public Bank to deduct monthly instalments directly from their salary.

In addition, existing Public Bank or Public Islamic Bank customers applying for PLUS BAE financing may need to submit supporting bank statements or repayment records to prove their credit history and financial discipline. All documents must be uploaded in PDF or JPEG format, unaltered and clearly legible. Applications with incomplete or unclear documents are commonly delayed. To avoid issues, applicants should ensure their salary slips reflect consistent monthly income and that all details match their employment letter.

How Does the Public Bank Personal Loan Online Application Process Work?

You can apply for a Public Bank personal loan, such as BAE AG Personal Financing‑i, via their online portal or the MyPB mobile app. Begin by selecting your desired product and filling in your personal, employment, and income details. You’ll then upload required documents like your NRIC, salary slips, employment confirmation, and BPA form (for government employees). Expect the bank to review your submission within approximately 5 working days, after which a supplementary Letter of Offer is issued for digital acceptance.

Once approved, you’ll digitally sign the financing agreement and return it as instructed. Upon receipt, Public Bank typically disburses funds to your account shortly thereafter, usually within the next working day. You can monitor the progress of your application via the MyPB app or customer service, and most stages, submission, review, and disbursement, can be completed without visiting a branch, unless further verification is necessary.

Can Existing Public Bank Customers Apply for Pre-Approved Loans?

Yes, existing Public Bank customers may be eligible for pre-approved personal financing offers, particularly under the PLUS BAE Personal Financing-i scheme. These offers are usually extended to customers with a strong repayment record and a stable relationship with the bank. Notifications are sent through the MyPB mobile app, SMS, or direct communication from the bank. Although pre-approved applicants still need to provide standard documents such as NRIC and salary slips, they can bypass the initial eligibility screening, which makes approval faster.

The pre-approved limit is based on the customer’s financial profile, including income, savings, and repayment history with Public Bank or Public Islamic Bank. For example, customers who have maintained active financing facilities or a good repayment record on existing loans may qualify for higher pre-approved amounts. These offers are valid for a limited period, often around 30 days, and applicants must act within the timeframe to secure the financing.

What Are the Advantages of Public Bank Personal Loans?

Public Bank Personal Loans offer no processing fees, competitive profit rates, and flexible tenures up to 10 years. Government employees benefit from streamlined approvals via salary deductions, while existing customers access preferential terms. Early settlements incur no penalties, and optional Takaful provides added security.

Compared to competitors like Bank Rakyat, Public Bank’s rates are lower for similar products. For instance, Bank Rakyat’s public sector financing starts at 3.42% but includes additional Wakalah fees. Public Bank also integrates with the MyPB app for convenient management, unlike some traditional banks.

How Does Public Bank Compare to Other Lenders for Personal Loans?

Public Bank competes with Maybank, Bank Rakyat, and CIMB in Malaysia’s personal loan market. While Maybank offers higher limits (up to RM250,000), its rates start at 4.45%, slightly above Public Bank’s 3.99%. Bank Rakyat provides floating rates linked to SBR, which may benefit borrowers during rate cuts.

Public Bank’s edge lies in its no-fee structure and Sharia compliance. CIMB requires collateral for larger loans, whereas Public Bank’s products are unsecured. Borrowers should compare total repayment amounts, not just profit rates, as fees and tenures affect overall costs.

What Common Mistakes Should Applicants Avoid During Online Submission?

Common application errors include uploading blurry documents, omitting salary slips, or providing outdated employment letters. Inconsistent income details, such as bonuses excluded from slips, trigger rejections. Applicants must ensure their BPA forms are fully signed and stamped by employers.

Another mistake is applying for amounts exceeding eligibility. For example, a borrower earning RM3,000 monthly cannot request RM150,000, as the bank caps loans at 10 times monthly income. Pre-application calculators on Public Bank’s website help estimate feasible amounts.

How Can Borrowers Check Their Public Bank Personal Loan Application Status?

Applicants track their status via the MyPB app’s “Loan Application” section or by calling Public Bank’s customer service at 03-2176 8000. Approved loans appear in the app with disbursement dates, while pending cases show document verification progress.

Delays occur if the bank requests additional proof, such as updated salary slips. Rejected applicants receive SMS notifications with reasons, such as high debt-to-income ratios. They may reapply after six months or rectify flagged issues, like updating credit reports.

Are There Alternatives if Public Bank Rejects a Personal Loan Application?

Rejected applicants can consider Islamic banks like Bank Rakyat or conventional options like Hong Leong Bank. Bank Rakyat’s public sector financing offers higher amounts (up to RM400,000) but requires longer tenures. Peer-to-peer platforms like Funding Societies provide unsecured loans but charge higher rates.

Improving credit scores, reducing outstanding debt, or reapplying with a co-signer boosts approval chances. Public Bank allows reapplications after six months if the borrower’s financial situation improves, such as a salary increase or cleared liabilities.

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