(Read this Product Disclosure Sheet before you decide to take up the Public Islamic Bank Visa / MasterCard Gold Credit Card-i. Be sure to also read the general terms and conditions.) 1. What is this product about? PRODUCT DISCLOSURE SHEET PUBLIC ISLAMIC BANK BERHAD (14328-V) Name of product offered: Public Islamic Bank Visa / MasterCard Gold Credit Card-i Date: Public Islamic Bank Visa/MasterCard Gold Credit Card-i, is an Islamic Credit Card based on Shariah contract of Ujrah (charge on service) with a line of financing granted by the Bank to you and where any amount of the financing utilized by you has not been settled in full on or before the due date, the unsettled amount will be subject to management charges. The usage of credit card-i is limited to all Shariah permissible activities. It will allow most of the transactions but will decline transactions for non-halal related activities for example: entertainment outlets, gambling, massage parlour, escort services and liquor. 2. What do I get from this product? Credit limit Credit limit assigned is subject to credit review and evaluation by the Bank. Where the Cardmember operates two or more cards with the Bank, a total Combined Credit Line will be extended to cover the use of all cards held by the Principal Cardmember and the Supplementary Cardmember(s), if any. If preferred, the Supplementary Card may be nominated with a separate Credit Line from a minimum of RM 1,000. Emergency temporary Credit Line extension will depend on circumstance and payment record. Note: For Cardmembers who earn RM24,000 per annum or less, the maximum credit limit extended shall be two times of Cardmembers monthly income. Hibah Performance Bonus Every Ringgit of retail purchase transacted with the Public Islamic Bank (PIBB) Credit Card-i will earn Hibah Performance Bonus, based on tier rates as below:- Monthly Retail Transaction (RM) Hibah Performance Bonus Tier (%) RM1-00 - RM3,000-00 0.30 RM3,001-00 - RM10,000-00 0.50 RM10,001-00 - RM30,000-00 0.60 Above RM30,000-00 0.70 i) Hibah Performance Bonus is calculated on the total monthly retail purchases. ii) The Hibah Performance Bonus earned will be credited monthly to the Public Islamic Bank Credit Card-i Account. iii) There are no minimum qualifying criteria, no maximum limits and no restrictions on the usage of the Hibah Performance Bonus. iv) Retail purchase exclude transactions at petrol stations, cash advances, balance transfer, transactions at Tunku Abdul Rahman University and Tunku Abdul Rahman 1
University College campus, government related payments, payments to charity, payments via www.pbebank.com and ATM. Automatic Travel Coverage FREE Automatic Travel Coverage of up to RM1 million when the full travel arrangements is charged to your Islamic Credit Card. You can even claim for inconvenience due to Luggage Delay, Luggage Loss, Flight Delay, Missed Connecting Flight, Trip Cancellations and Repatriation expenses. Card Type Public Islamic Bank Visa/MasterCard Gold Credit Card-i Automatic Travel Coverage (RM) Up to RM1,000,000 per annum Supplementary Cards You can apply for Supplementary Cards to extend the privileges and convenience of your Visa/MasterCard Cardmembership to your loved ones. Fixed Management Charge (FMC) The amount of which will be dependent on the Credit Card-i type. The charge may be increased or decreased from time to time. However, the Bank will impose the AMC based on utilised credit limit. Actual Management Charge (AMC) (Ujrah) The monthly AMC will be imposed based on the utilised credit limit. The difference in the amount between FMC and AMC will be waived monthly. The AMC is charged at the applicable Management Charge Tiered Rates. Management Charge (Ujrah) Retail Purchases* Cash Advance Balance Transfer 15% p.a. With prompt payments for 12 consecutive months 17% p.a. Make 10 / 11 times prompt payments in the last 12 months 18% p.a. Make 9 or less prompt payments in the last 12 months 18% p.a. Cash Advance Management Charge Balance Transfer rates are based on the on-going promotion. Tiered management charge of 15% to 18% p.a. will be levied on the overdue or outstanding amount not paid in full. Note: (i) *To enjoy lower management charge for retail purchases, you should make at least 10 prompt payments in the last 12 months. The tiered management charge are only applicable to the outstanding balances arising from retail purchases. (ii) Balances accrued from Cash Advance will be charged finance charge at 18% p.a. Rebate (Ibra ) The Bank has the right to grant rebate (ibra ) on management charges if there is no retail transaction performed. The rebate will be calculated based on the difference, between Fixed Monthly Management Charges and Actual Monthly Management Charges of the statement date. 2
Current Account Open a Current Account at any Public Bank / Public Islamic Bank branch without an introducer. Note: This privilege is only applicable for Public Islamic Bank Visa/MasterCard Platinum Credit Card-i and Public Islamic Bank Visa/MasterCard Gold Credit Card-i. PBeBank.com and PB Mobile Banking Services Access banking services any day of the year from wherever you are in the world. E-Statement Go green and sign-up for e-statements now by registering online at www.pbebank.com. 3. What are my obligations? Minimum Monthly Payment 5% of the outstanding balance or a minimum of RM50. Charge Free Period for Retail Purchase A 20-days charge free on all retail purchases, provided all outstanding balances of the previous month, as per the monthly statement, are fully settled within the due date. Where the Charge-Free Period is not applicable, management charge as per applicable tiered rate per month will be levied on all retail purchases from the date the retail purchases are posted. Note: Retail Transactions exclude Cash Advance, Balance Transfer and any other credit plans. As the Principal cardholder, you are liable to all transactions incurred by the Supplementary cardholders. 4. What are the fees and charges I have to pay? Annual Fee Free For Life (Principal & Supplementary Cards) - First year annual fee waived & subsequent years annual fee waiver is based on a minimum of 12 swipes over the preceding 12 months. Card Type Principal (RM) Supplementary (RM) Public Islamic Bank Visa/MasterCard 159 106 Gold Credit Card-i Cash Advance Fee Cash Advance Fee (one-time fee) Public Bank / Public Islamic Branches / ATMs Affiliated Banks and Financial Institutions Worldwide Management Charge for Cash Advance 5.30% of amount withdrawn or RM21.20, whichever is higher 18% per annum A one- time cash advance fee based on the above will be charged for the amount of cash advance or a minimum of RM21.20. IN ADDITION, management charge will be computed on each cash advance calculated from the date the cash is advanced until the 3
date it is settled in full. Lost or Theft Card Replacement Penalty RM50 per card Sales Draft Retrieval Fee RM15-90 per request for original copy and RM5.30 per request for photocopy. Additional Statement Request Fee RM5-30 per request Overseas Transaction Conversion Fee Transactions made in foreign currency will be converted to Ringgit Malaysia using US Dollar (USD) as the base currency on the date it is received and/or processed at the conversion rate as may be determined by Visa International/MasterCard Worldwide at its absolute discretion. In addition, you will also have to pay Foreign Exchange Spread of 1.25% of the converted Ringgit Malaysia amount for the conversion of the transactions made in foreign currency. The exchange may differ from the rate in effect on the date of the transaction due to market fluctuations. Such rate imposed shall be final and conclusive and the Cardmember shall bear all exchange risks, losses, commission and other bank charges which may thereby be incurred. Over Limit Fee RM53-00 per statement* Exclude Annual Fee/other fees imposed by Bank, GST, Late Charges, Stand-in processing and Auto-debit transactions Any applicable taxes, including GST when the same become chargeable or in force. 5. What if I fail to fulfill my obligations? Late Payment Charge Failure to make the Minimum Payment by the Due Date, a further charge of a minimum of RM10 or 1% of total outstanding balance as at statement date, whichever is higher, capped to a maximum of RM100, shall be debited to the credit card account. Right to Set-Off Public Islamic Bank Berhad has the right to set-off all or any accounts maintained with the Bank, Public Bank and / or Public Bank s subsidiaries against any outstanding balance in this credit card account. Note: If you fail to abide the terms and conditions of the credit card, we have the right to terminate your card. 6. What if I fully settle the balance before its maturity? (for balance transfer or flexi payment plans) Lock-in Period Lock-in period of up to 24 months depending on type of balance transfer or flexi payment plans as different plans has different lock-in period. 4
Bank will explain to you the consequences of making full payment during the lock-in period. 7. What are the major risks? You should notify Public Bank/Public Islamic Bank immediately after having found that your Islamic credit card is lost or stolen. For stolen or lost card, call 03-2176 8555. If you wish not to receive SMS Transaction Alert, you are unable to take immediate action to notify the Bank in the event of unauthorised transactions on your card account. By paying only minimum monthly payment, the charge amount and the time taken to settle the full amount will increase. Consider your payment capacity when charging the Islamic credit card. The management charge imposed on the outstanding balance for this Islamic credit card is based on a tiered pricing structure in accordance to your payment track record. If you use your Islamic credit card to make payment for other financing, it may cost you more. 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 counseling, financial education and debt restructuring for individuals. You can contact AKPK at: Tingkat 8, Maju Junction Mall 1001, Jalan Sultan Ismail 50250 Kuala Lumpur Telephone : 1-800-88-2575 E-mail : enquiry@akpk.org.my 8. What do I need to do if there are changes to my contact details? It is important that you inform us of any change in your contact details to ensure that all correspondences reach you in a timely manner. You may contact Public Bank/Public Islamic Bank Berhad at : PB Card Services Public Bank Berhad /Public Islamic Bank Berhad 146 Jalan Ampang 50450 Kuala Lumpur Malaysia. Tel : 603-2176 8000 Fax : 603-2163 9400 E-mail : custsvc@publicbank.com.my 9. Where can I get the assistance and redress? If you have problems paying for your credit card balances, contact Public Bank Berhad / Public Islamic Bank Berhad early to discuss payment alternatives. 5
If you have any enquiries, please contact Public Bank / Public Islamic Bank at : PB Card Services Public Bank Berhad / Public Islamic Bank Berhad 146 Jalan Ampang 50450 Kuala Lumpur Malaysia. Tel : 603-2176 8000 Fax : 603-2163 9400 E-mail : custsvc@publicbank.com.my Website : www.pbebank.com If your query or complaint is not satisfactorily resolved by Public Bank / Public Islamic Bank Berhad, 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 : 03-2174 1515 E-mail : bnmtelelink@bnm.gov.my 10. Where can I get further information? Should you require additional information in Islamic credit card, please refer to the bankinginfo booklet on Credit Cards, available at all Public Bank/Public Islamic Bank branches and the www.bankinginfo.com.my website. 11. Other credit card-i product available? Public Islamic Bank Visa/MasterCard Platinum Credit Card-i. IMPORTANT NOTE: LEGAL ACTION MAY BE TAKEN AGAINST YOU IF YOU DO NOT KEEP UP PAYMENTS ON YOUR ISLAMIC CREDIT CARD BALANCES. The information provided in this disclosure sheet is valid as at Signature/Date: : Dealer/Officer Name : I confirm a copy of this disclosure form has been provided and briefed to the applicant. 6