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Goodwill Discounts: For early settlement of existing fixed rate hire-purchase Agreements which Adopt the Rule of 78 |
Following the Hire Purchase (Amendment) Act 2026 (HPAA) which will take effect on 1 June 2026, the Rule of 78 method has been abolished and the method of calculating terms charges using the reducing balance method of calculation will be applied on fixed rate Hire-Purchase agreements entered into after the HPAA effective date.
In order to alleviate the impact of the Rule of 78 method on customers that opt for early settlement under existing fixed rate Hire-Purchase agreements, Public Bank will be providing goodwill discounts to eligible Hire-Purchase customers which adopt the Rule of 78 method to assist the customers.
For further questions, please do not hesitate to contact us as follow:
| By region where Hire Purchase (HP)/ AITAB HP-i were obtained | Helpdesk Number |
|---|---|
|
Kuala Lumpur, Selangor, Putrajaya |
03-2264 6288 03-2264 6488 03-3167 6688 |
| Perlis, Kedah, Pulau Pinang, Kelantan, Terengganu |
04-3146 688 04-2697 800 |
| Perak, Pahang | 05-2458 568 |
| Johor, Melaka | 07-2083 600 |
| Negeri Sembilan, Sabah, Sarawak & Labuan | 03-2176 7701 |
