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Product Disclosure Sheet PRODUCT DISCLOSURE SHEET (Read this Product Disclosure Sheet before you decide to take out the <Name of Product>. Be sure to also read the terms in the letter of offer. Seek clarification from your institution if Facility : MORE Plan you do not understand any part of this document Date : or the general terms) 1. What is this product(s) about? Non-Free Legal Documentation This housing loan is calculated on a variable/fixed rate basis and you are offering your property as security for this financing. 2. What do I get from this product(s)? Loan Amount : RM Base Rate (BR) : % x Total Amount Borrowed : RM Housing Loan x Margin of Financing : % Whole Tenure : % x Tenure : years x Effective Lending Rate : % Interest Rate Computation [ ] Daily rest [ ] Monthly rest 3. What is the Base Rate (BR)? The BR we offer on this product is made up of two parts, our benchmark cost of funds (COF) and the Statutory Reserve Requirement (SRR) cost imposed by Bank Negara Malaysia. Our benchmark COF is referenced to the 3-month Kuala Lumpur Interbank Offering Rate and the incremental cost of raising new funds from Customers Deposits. 4. What are the possible scenarios to trigger a change in the BR? Our BR can rise or fall due to changes in the benchmark COF and changes in the SRR. Changes in the benchmark COF could occur due to changes in the Overnight Policy Rate (OPR) as decided by the Monetary Policy Committee of Bank Negara Malaysia, as well as other factors such as changes in Statutory Reserve Requirement rate and/ or changes to the bank funding conditions. 5. Historical benchmark COF in the last 3 years 1 6. What are my obligations? x Your monthly instalment is : RM x Total repayment amount at the end of ____ years is : RM Important: Your monthly instalment and total repayment amount will vary if the BR changes. Rate Today (BR = %) If BR goes up 1% If BR goes up 2% Monthly Instalment RM RM RM Total interest cost at the end of RM RM RM ___ years Total repayment amount at the RM RM RM end of ___ years Property Construction Stage : [ ] Completed Property [ ] Under Construction Property Borrower is to service interest during construction period for a property under construction. Interest calculated will be based on amount disbursed to developer. Note: 1. Total repayment amount may vary if BR/ interest spread changes. 2. Refer to loan repayment schedule for subsequent years monthly instalment. 3. The above is accurate only if the interest rate remains unchanged. 7. What other charges do I have to pay? Fees and Charges (A) Stamp Duty x As per the Stamp Act 1949 (Revised 1989) (B) Disbursement Fee x Include fees for registration of charge and other related charges (C) Processing / Facility Fees One-time fee charged for approved financing Processing Fee Chargeable Type Size of Loan (if applicable) Up to RM30,000 RM53.00 Purchase / Refinancing of Residential Property under RM30,001 to RM100,000 RM106.00 HOME / MORE Plan Above RM100,000 RM212.00 Processing Fee Chargeable Type (if applicable) Purchase of Commercial & Industrial Property RM212.00 (excluding land) under SWIFT / SMILAX Plan 2 Upfront Fee Chargeable Type (if applicable) Facility(ies) Secured by All 0.106% - 0.212% of total financing amount Types of Land (excluding Bridging subject to minimum of RM530.00 Financing) Bridging Financing 0.212% of total financing amount subject to minimum of RM3,180.00 (D) Others x For Overdraft Fee Rate (RM) Half-yearly service charge on Overdraft account if credit balance below 10.60 RM1,000 x For facilities secured by Fixed Deposit Service Charge Rate (RM) Each Fixed Deposit Receipt accepted as collateral 5.30 8. What if I fail to fulfill my obligations? x Unless otherwise stipulated under the respective type of facility, all overdue instalment shall be levied with an additional interest of 1% p.a. on overdue amount. x Where OD/HL/FL/Personal Loan repayment is overdue/default by one (1) month, the pricing would be automatically increased to 3.2% + BR/0% + BLR** p.a. or additional 1% above the prevailing interest rate p.a. on the entire outstanding amount, whichever is higher. x When HL/FL/Personal Loan repayment is overdue/ default by one (1) month, the Bank will ceased charging the 1% p.a. additional interest on the overdue amount once the loan is repriced with the increased interest rate of 3.2% + BR OR 1% above prevailing facility interest rate p.a. on the entire outstanding amount, whichever is higher OR at any other rate at the Bank's absolute discretion due to loan default. (Not applicable for Prescribed Housing Loan) x Upon recall of credit facility/ies and/or classification of account(s) as impaired loans (90 days overdue) /default, the interest rate shall be increased to 6.7% + BR p.a. or such other rate on the entire outstanding amount at the Bank's discretion. x The Bank has the right to set-off any credit balance in your account maintained with us against any outstanding balance in this financing account with seven (7) calendar days prior notice to you. x If the financing tenure extends into retirement, you are to advise us on your plans to service the repayment after your retirement. x You are to furnish us all relevant information regarding financing taken from all financial institutions, cooperatives, building societies, credit companies and merchants that provide credit sales etc. and to fully and accurately disclose material information that has a bearing on our financing decision. Failure by you to disclose essential and correct information in the financing application as well as the consequences of providing incomplete or incorrect information may lead to a higher financing rate or rejection of your financing application. x Legal action will be taken if you fail to respond to reminder notices and you will have to bear all legal costs. You are also responsible to settle any shortfall after your property is sold. 3 x Legal action against you may affect your credit rating leading to credit being more difficult or expensive to you. Other terms and conditions 1. You may select to use Bank's panel lawyers/ insurers/ valuers. 2. On case to case basis depending on your credit assessment by the Bank, you may be required to provide a guarantor. 9. What if I fully settle the loan during the lock-in period? (If applicable) Applicable to Special Loan Package (SLP) with Non-Free Legal Documentation x Loan amount of RM200,000 and below - An early settlement fee of 3% on the approved loan amount will be imposed if the HL is fully settled/redeemed/cancelled within the first 3 years (36 months) from date of first drawdown. x Loan amount above RM200,000 - An early settlement fee of 2% on the approved loan amount will be imposed if the HL is fully settled/redeemed/cancelled within the first 3 years (36 months) from date of first drawdown. x For HL which is still under progressive release, the computation of the settlement fee shall also be based on the approved loan amount. 10. Do I need any insurance coverage? x Insurance coverage i.e. Mortgage Decreasing Term Assurance (MDTA)/ Business Loan Decreasing Term Assurance (BLDTA)/ Business Loan Overdraft Level Term Assurance (BLOLTA)/ Overdraft Level Term Assurance (OLTA) is to provide insurance protection in the event of total permanent disability or death of the borrower/ guarantor. x You are advised to take up an insurance cover with an insurance company approved by us to adequately insure the property to be charged which includes flood, riot, strike and malicious damage. We reserve the right to exclude certain risks from the insurance cover should you write to us advising on your requests. 11. What do I need to do if there are changes to my contact details? x It is important that you inform us (written notice to be sent to the account holding branch) of any change in your contact details to ensure that all correspondences reach you in a timely manner. 12. Where can I get assistance and redress? x If you have difficulties in making repayments, you should contact us earliest possible to discuss repayment alternatives. You may contact us at: Menara Public Bank 146 Jalan Ampang 50450 Kuala Lumpur Telephone : 1 800-22-5555 Fax : 03 2164 6670 E-mail : [email protected] Web Site : http://www.pbebank.com y Alternatively, you may seek the services of Agensi Kaunseling dan Pengurusan Kredit (AKPK), an agency established by Bank Negara Malaysia to provide free services on money management, credit counselling and debt restructuring for individuals. You can contact AKPK at: Tingkat 8, Maju Junction Mall 1001, Jalan Sultan Ismail 50250 Kuala Lumpur 4 Tel : 03-2616 7766 E-mail : [email protected] x If you wish to complaint on the products or services provided by us, you may contact us at: Menara Public Bank 146 Jalan Ampang 50450 Kuala Lumpur Telephone : 1 800-22-5555 Fax : 03 2164 6670 E-mail : [email protected] Web Site : http://www.pbebank.com x If your query or complaint is not satisfactorily resolved by us, you may contact Bank Negara Malaysia LINK or TELELINK at: Block D, Bank Negara Malaysia Jalan Dato’ Onn 50480 Kuala Lumpur. Tel : 1-300-88-5465 Fax : 03-21741515 E-mail : [email protected] 13. Where can I get further information? Should you require additional information, please refer to the banking info booklet, available at all our branches and the www.bankinginfo.com.my websites.
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