KUALA LUMPUR (Jan 10): Gamuda Land and Public Bank Bhd (KL:PBBANK) have introduced Malaysia’s first flexible 120% home financing package, the PB SmartLiving scheme, offering new levels of accessibility and affordability for homebuyers.

The financing package is tailored exclusively for The Clove, a new home typology in Gamuda Land’s Park Homes series. It provides up to 120% financing, covering home loans, renovation costs, and appliance purchases, where up to 30% is allocated for renovations and fixtures.

“By forming long-standing partnerships with impactful organisations like Public Bank, we are able to collaboratively create solutions that empower Malaysians to own and customise their homes with greater ease,” said Gamuda Land chief executive officer Chu Wai Lune in a statement on Jan 9.  

With competitive interest rates starting at 3.3% per annum for the first year of home loans and 4.3% per annum for renovation and appliance financing, the package ensures financial ease for buyers. Additionally, a loan tenure of up to 35 years offers flexibility for long-term planning.

Public Bank managing director and CEO Tan Sri Tay Ah Lek highlighted the collaboration’s significance, “This financing solution not only caters to the evolving needs of modern homeowners but also reinforces Public Bank’s dedication to delivering value-added services that enhance customers' quality of life.”

The Clove introduces clusters of eight homes designed around private gardens that replace traditional back lanes. This unique typology bridges the gap between terrace houses and semi-detached properties, offering families more space, privacy, and a stronger sense of community, the statement said.

Also, the houses are designed with sustainability and modernity in mind, featuring solar- and EV-ready homes. Homebuyers can personalise their properties through the GL Connect Portal, which enables real-time layout adjustments and curated interior design options.