Car Loan Calculator / Public Bank

Public Bank Car Loan Calculator Malaysia 2026: Aitab Hire Purchase-i Rates & Monthly Estimator

Last updated · Rates current as of Bank Negara MPC
In short

Public Bank's car loan calculator estimates the monthly installment for Aitab Hire Purchase-i (Islamic hire purchase) using a flat profit rate of 3.31%-4.10% per annum, margin of finance up to 90% for new cars, and tenure up to 9 years (108 months). Apply via PBe internet banking, the PB engage app, or any Public Bank branch.

Should you buy?

Yes, if

  • Buying a new national car (Perodua, Proton) under RM100k

    Public Bank's lowest tier (3.31% flat) usually applies to new national cars with strong credit profile

  • Existing PBe internet banking customer

    Application is faster with pre-filled income data and approval often comes within 1-2 working days

Not if

Public Bank's car loan calculator is a digital tool designed to assist potential car buyers in Malaysia to estimate their monthly car loan repayments. By inputting specific data such as the car price, down payment percentage, loan period, and interest rate, users can receive a calculated monthly repayment amount. This calculator is beneficial for those who are planning to finance a vehicle purchase through a loan, providing a clearer picture of the financial commitment involved.

How to Use the Car Loan Calculator?

To effectively use Public Bank's car loan calculator, enter the total price of their desired vehicle in Malaysian Ringgit, followed by specifying their intended down payment as a percentage of the car price. They then select their preferred loan duration in years and input the applicable interest rate as a percentage. Upon completing these inputs, the calculator generates a comprehensive monthly repayment figure along with a detailed repayment schedule showing the breakdown of principal and interest over the loan period.

What Are the Benefits of Using a Car Loan Calculator?

Using a car loan calculator offers several advantages to prospective car buyers:

  1. It helps in planning your budget by providing an estimate of the monthly financial obligation.
  2. With different banks offering varying interest rates, the calculator can be used to compare which lender offers the best deal.
  3. It provides insights into how different loan periods and down payments affect the overall interest paid.

For example, if you are considering a car priced at RM100,000 with a down payment of 10% and an interest rate of 3.31% over a loan period of 9 years, the calculator will show how these factors influence your monthly payments.

What Are the Current Interest Rates for Car Loans?

Current car loan interest rates in Malaysia show variation among different financial institutions. Alliance Bank Hire Purchase offers rates at 3.14% per annum, while AmBank Arif Hire Purchase-i provides 3.05% per annum. CIMB Hire Purchase maintains rates at 3.25% per annum, with Public Bank Aitab Hire Purchase-i at 3.31% per annum and RHB Hire Purchase at 3.18% per annum. These rates fluctuate based on various factors including the vehicle's condition (new or used), origin, and the borrower's creditworthiness.

How to Calculate a Car Loan in Malaysia?

Taking an example of a new car priced at RM109,800 with a 10% down payment, the calculation begins by determining the applied loan amount after subtracting the down payment. The annual interest is then calculated based on the chosen rate, followed by computing the total interest for the entire loan period. The total loan amount combines the principal and interest, which is then divided by the loan tenure in months to determine the monthly repayment figure.

What Should I Look for When Applying for a Car Loan?

When considering a car loan application, 4 main factors deserve attention, which is the total cost of the loan, including both principal and interest. Interest rates should be compared across different financial institutions to secure the most competitive option. The down payment amount significantly influences the loan structure, with higher down payments potentially leading to more favorable interest rates. It's also essential to understand the implications of loan default and potential vehicle repossession.

How Do Current Car Loan Interest Rates Compare?

The current car loan market shows different interest rate offerings from various banks. For example, Public Bank Aitab Hire Purchase-i provides rates ranging from 3.31% to 4.10% per annum for both new and used vehicles, with loan tenures extending from 7 to 9 years. CIMB Hire Purchase-i offers rates between 2.85% and 4.45% per annum, while BSN Hire Purchase presents an attractive rate of 2.55% per annum for new cars. These varying rates emphasize the importance of thorough market research and comparison before finalizing a car loan decision.

Frequently asked questions

What is the current Public Bank car loan interest rate?
Public Bank Aitab Hire Purchase-i offers Islamic profit rates from 3.31% per annum (flat) for new national cars, up to 4.10% for used or non-national cars. The exact rate depends on car make, tenure, margin of finance, and the borrower's credit profile.
What is the maximum loan tenure for Public Bank car financing?
Maximum tenure is 9 years (108 months) for new vehicles and 7 years for used vehicles, subject to the borrower's age (maximum 70 years at end of tenure) and Bank Negara Malaysia responsible lending guidelines.
How do I apply for a Public Bank car loan online?
Submit an application via PBe internet banking under Loan Application, the PB engage mobile app, or visit any Public Bank branch with your IC, latest 3 months' payslips, EPF statement, and the car booking form (Vehicle Sales Order).
What is the minimum down payment for a Public Bank car loan?
Minimum down payment is 10% of the on-the-road price for new national and non-national cars (Public Bank finances up to 90% margin). For used cars, expect to put down 15-30% depending on vehicle age and condition.
Is Public Bank Aitab Hire Purchase-i Shariah-compliant?
Yes. Aitab (Al-Ijarah Thumma Al-Bai') is Shariah-approved by Public Bank's Shariah Committee. The bank purchases the vehicle and leases it to you with a fixed profit margin, and ownership transfers at the end of the tenure once all installments and the symbolic sale price are paid.
Can I settle my Public Bank car loan early?
Yes. Full early settlement is allowed and the bank applies an ibra' (rebate) on unaccrued profit per BNM guidelines. See the Public Bank settlement guide for the step-by-step process.

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