1. What is the Public Bank Home Loan Calculator?

The Public Bank Malaysia Home Loan Calculator helps you estimate your monthly mortgage payments based on the loan amount, interest rate, and loan term. It uses the standard PMT formula for fixed-rate home loans.

2. How Does the Calculator Work?

The calculator uses the PMT formula:

Where:

• \( P \) — Principal loan amount (MYR)
• \( r \) — Monthly interest rate (annual rate ÷ 12)
• \( n \) — Number of months (loan term in years × 12)
• \( PMT \) — Monthly payment amount (MYR)

Explanation: This formula calculates the fixed monthly payment required to fully repay a loan over its term, including both principal and interest components.

3. Importance of Loan Calculation

Details: Understanding your monthly mortgage payments helps with budgeting and financial planning when purchasing property in Malaysia.

4. Using the Calculator

Tips: Enter the loan amount in MYR, annual interest rate (Public Bank's current rates), and loan term in years (typically 5-35 years for Malaysian home loans).

5. Frequently Asked Questions (FAQ)

Q1: What are Public Bank's current home loan rates?
A: As of 2023, rates typically range from 3.5% to 5.5% depending on loan package and applicant profile.

Q2: Does this include other fees?
A: No, this calculates principal and interest only. Additional costs like MRTA, legal fees, and stamp duty are not included.

Q3: What's the maximum loan term in Malaysia?
A: Most banks offer up to 35 years or until age 65-70, whichever comes first.

Q4: Is this for fixed or variable rate loans?
A: This calculator assumes a fixed interest rate throughout the loan term.

Q5: How accurate is this calculator?
A: It provides a good estimate, but actual payments may vary slightly due to rounding and bank-specific policies.