Overview of Bank Simapanan Nasional Credit Cards
Bank Simapanan Nasional Bank was incorporated by the Malaysian government in 1974 and has since then grown exponentially to become one of the most preferred banks in Malaysia. BSN has been able to diversify its services and now provides comprehensive financial services ranging from consumer banking to business banking and investment banking. The credit cards from BSN offer customers exciting offers such as no annual fees, travel discounts and lower interest rates charged for government officials. The types of credit cards from BSN and their features are given below
Types of BSN Credit Cards
BSN Classic Credit Card:
This credit card charges 13.5% interest p.a. for private sector cardholders and 11% for government officials. This card has no annual fees. The benefits of tis card is that it provides Zing Plus Miles that provides rebates on tolls and discounts at select merchants. The card also offers a travel insurance with a coverage of up to RM 300,000 every time the card is solely used to purchase air fares. The minimum income required to avail this card is RM 24,000. The card also has a balance transfer plan and an instalment pay plan.
BSN Gold Card:
This credit card comes in both Visa and MasterCard and has an interest rate of 13.5% p.a. This card offers 2 reward points for every RM 1 spent on all overseas retail expenses and 1 reward point for every RM 1 spent on all retail expenses locally. It has an instalment pay plan with terms ranging from 3 months to 36 months and has a balance transfer plan. The card gives the cardholder access to an emergency help desk and free travel insurance that covers delayed flights and lost baggage. The interest rate charged for government servants is only 11% p.a. and the minimum annual income required to avail this card is RM 36,000.
BSN Platinum Card:
This elite credit card from BSN offers rewards on all retail expenses. Get 2 reward points for every RM 1 spent on dining and retail expenses overseas and 1 reward point for every RM 1 on retail expenses locally this card has an interest rate of 13.5% p.a. for private sector cardholders and 11% p.a. for government servants. The card is free for life and has no annual fee. This card also offers Zing Plus Miles that give great discounts at select merchants and toll rebates. The annual income required to avail this card is RM 60,000.
Why Choose BSN Credit Cards
BSN was incorporated by the Malaysian government in 1974 and has since then dedicated themselves to providing the people of Malaysia with end to end banking services. BSN has credit cards that provide low interest rates to government servants. The credit cards have an instalment pay plan with payment terms from 3 months to 36 months. The credit cards offer great rewards such as discounts at select retail merchants and toll rebates. The cards enhance the travel experience and provide peace of mind to the traveller by offering travel insurance that covers delayed flights and lost baggage. The credit cards also have a balance transfer plan.
Features and Benefits of BSN Credit Cards
- The annual interest rate on the credit cards is 13.5% for all private sector employees.
- The annual interest rate on the credit card is 11% for all government servants.
- The credit cards from BSN have no annual fees.
- The supplementary cards have no annual fees.
- The cash withdrawal fee for the platinum credit cards is RM 53
- The cash withdrawal fee for all other cards is 5.3% on the cash withdrawn.
- The late payment fee is 1% of the outstanding amount
- The minimum amount to be paid monthly is 5% of the outstanding amount.
BSN Credit Cards Eligibility
- Any Malaysian citizen can apply for this card
- The Primary Cardholder must have attained the age of 21 years
- The Supplementary Cardholder must have attained the age of 18 years
- The minimum annual income required to avail the BSN Classic Credit Card is RM 24,000.
- The minimum annual income required to avail the BSN Gold Credit Card is RM 36,000.
- The minimum annual income required to avail the BSN Classic Platinum Card is RM 60,000.
BSN Credit Card Documentation
The BSN credit cards are chock full of benefits that offer greater value to the cardholders for every purchase made using the card. From low interest rates to reward points accrued on expenses charged, the BSN credit cards are a sought after card. Applicants need to download the application form from the website or collect the form at their nearest branch, fill out the details and submit it with the list of supporting documents.
The applicant has to make sure they meet the eligibility criteria for age and income required. If so, they can apply for the cards and the documents required varies depending on the type of applicant.
For those applicants that are government employees the required documents are
- A photocopy of both sides of the NRIC.
- A copy of the latest salary slip or pay slip.
- To confirm employment, the copy of both sides of the Staff Tag is required or the applicant can even submit a copy of the employment confirmation letter.
For those applicants that are employees of a Private Organisation the required documents are
- A photocopy of both sides of the NRIC.
- A copy of the latest Pay slip dating back at least 2 months.
- A copy of the latest EPF statements.
- A copy of the Employment confirmation letter.
For those applicants who are self-employed, the required documents are
- A photocopy of both sides of the NRIC.
- To confirm income, a copy of the latest bank statement dating back 6 months.
- The latest BE form with tax payment receipts and
- A copy of the Form 9, 24, 45 for private limited companies or a copy of the business registration certificate.
BSN Credit Card Balance Transfer
The BSN Balance Transfer plan allows cardholders to transfer outstanding credit card dues on to their BSN credit card and pay it off in instalments with interest starting as low as 0% for stipulated tenures. The available tenure options are 3, 6, 9, 12, 24 and 36 months. The minimum amount that can be transferred is RM 500 and above for 3 months and RM 1000 and above for all other tenure options.
The Balance transfer plan from BSN is not only an effective way to consolidate credit card debt but is a hassle free process with no processing fee and easy payment channels through BSN ATMs across the nation.
|Read More on BSN Balance Transfer|
BSN Credit Card Application Status
The credit cards from BSN are easy to apply for. The applicant can either download the form on the website or obtain an application form at the nearest BSN branch, fill out the details and submit it with the supporting documents. The application forms with the documents required can be submitted online or in person at a BSN branch or can even be faxed to 603-2141-1291.
BSN Instalment-Pay Plan
The BSN Instalment pay plan allows the cardholders to convert their purchases into affordable monthly instalments that allow them to purchase what they desire the most without worrying about a huge statement at the end of the month.
This plan is applicable on retail purchases only and is open to all BSN Visa or MasterCard cardholders. The plan offers tenure options of 6, 12 and 24 months and an interest rate of 0% p.a. with a small onetime fee. The minimum amount to be converted into instalment plan is RM 500 to RM 999 for a tenure of 6 months with a onetime fee of 3%, RM 1000 to RM 1999 for a tenure of 6 or 12 months and a onetime fee of 4% and RM 2000 and above for tenures of 6, 12 or 24 months with a onetime fee of 5%.
BSN EasyCash Plan
BSN EasyCash plan allows cardholders fast access to cash when needed the most. The plan has no processing fees and has fast approval. The interest charged on this feature is a fixed facility fee of 8.5% and tenure options available are 12, 24 or 36 months. The minimum amount that can be requested for is RM 1000 with a maximum amount equal to 80% of the available credit limit.
BSN Happy Rewards Points Redemption Programme
The BSN card earns the cardholders reward points for all expenses, local or overseas. These reward points can be exchanged or redeemed for exciting gifts such as vouchers or travel packages. If the cardholder resides is Peninsular or East Malaysia, they receive free shipping of their selected reward.
Cardholders can view the catalogue for redemption on the website. In order to claim a reward, the cardholders must download the redemption form, fill it out and submit them. They can also reach out to firstname.lastname@example.org for any assistance in the process.
BSN AutoPay Bill Facility
This facility from BSN allows BSN credit card holders to pay their bills automatically on a particular allotted date every month.
Features and benefits of BSN AutoPay Bill
- It is available for principal cardholders of BSN Visa credit cards and BSN MasterCard credit cards
- It can be activated by filling in the registration form available on the BSN website and faxing it to 03-2141-1291
- It takes 4 to 8 weeks to get activated and complete the first auto payment transaction.
- With this facility cardholders will not have to remember to pay certain bills before their allotted due dates. The chances of missing the due dates for such bills is reduced to zero with standing instructions that automatically debits the bill amount from the cardholders account
- This facility offers a hassle free mode to pay the bills on time. It just requires the cardholder to register and set it up once and the facility will take over the payments on the allotted dates.
- The amount debited from the cardholders account towards these charges are qualified to earn reward points
- This facility does not incur any service charges
Frequently Asked Questions - BSN Credit Cards
Q) How can I apply for a BSN Credit Card?
A) The application form can be picked up at any BSN branch. The online application form is available on the BSN website and there is a dedicated customer service helpline at 1300 88 1900.
Q) How can I pay my monthly bills?
A) The monthly bills can be paid at any BSN branch, BSN ATM and online banking or through Interbank GIRO transfer
Q) What is the minimum monthly payment?
A) The minimum monthly payment should be 5% of the outstanding amount.
Q) Are there any penalties?
A) The late payment of bills attract a penalty fee which is 1% on the outstanding amount.
Q) Are there any hidden fees?
A) No. The card is free of any hidden charges and has no annual charges on either the primary card or the supplementary card.
Q) What can I redeem with my reward points and Zing Miles?
A) Reward points can be exchanged or redeemed for discounts on shopping and dining at select merchants and restaurants. The Zing Plus Miles can be used to get cash rebates from tolls and discounts from select retail merchants.
Q) Is there an Instalment pay plan?
A) Yes. The credit cards from BSN allow you to purchase commodities that can be paid off in instalment plans with payment terms ranging from 3 months to 36 months.
Q) What are the interest rates charged on the card?
A) The BSN credit cards charge 13.5% for all private sector employees and 11% for government servants provided that the cardholder has been a good paymaster.
Other Products offered by BSN:
Apart from offering Credit card,BSN offers other products and services which include:
- Cash vs Cards Payments Malaysia
- How to Find the Perfect Credit Card in Malaysia
- How to Improve your Credit Rating in Malaysia
- How to Increase Credit Limit in Your Credit Card
- How to Pick an Emergency Credit Card
- Student Credit Cards in Malaysia
- Supplementary Credit Cards in Malaysia
- When to Use Credit over Cash
- Shed the Excess Interest Rates
- Protecting One’s Credit Card While Travelling
- Defaulting Your Credit Card Bills in Malaysia?
- Top 5 Reasons Why Owning a Credit Card is Good for You
- How to improve your chances of having a credit card approved
- Credit Card fraud: Are you aware of it?
- Understand Credit Card interest free period
- Reward Credit cards Malaysia
- Best Cash Back Credit Cards in Malaysia
- Best Zero Annual Fee Credit Cards in Malaysia
- Personal Loan Against Credit Card
- How to Maximise Your Credit Card Benefits
- Popular Credit Card Fees and Charges in Malaysia
- How to Apply for Credit Cards in Malaysia for Foreigners
- Top 10 Credit Cards in Malaysia 2016
- Best Low Interest Rate Credit Cards in Malaysia
- What charges do you pay for when you swipe your card overseas
- Best Petrol Credit Cards In Malaysia
- Credit Cards for Employees in Malaysia
- Common Mistakes to Avoid While Applying for a Credit Card
News About BSN Credit Card
BSN will maintain its 403 branches
Despite the challenging outlook for the banking industry, BSN will not be cutting the branches. The BSN deputy chief executive believes that the growth for 2017 will not be as good as it was in the last few years, but it will be sustainable. The banks will continue to reduce cost and hence reduce the number of branches. But, BSN will focus on mobile banking, agent banking, and internet banking. The banking industry will have a lot of challenges this year due to the high household debt, Brexit, uncertainties surrounding the US President-elect Donald Trump’s policies, and the oil prices.
9th January 2017
Changes in BSN’s logo and identity
Bank Simpanan Nasional or (BSN) has rebranded itself with refreshed logo containing the corporate colour teal that represents trustworthiness and reliability. Associated with rural Malays, BSN Bank has won Chinese support and now rebranded itself to appeal to urban population. Apart from changing it look, the bank has launched a campaign called “a better life within your reach” to appeal to urban population.
The bank strives to change its prevailing identity as a kampong bank and establish itself as an urban bank like other commercial banks in Malaysia. The bank is still considered as a rural bank despite having served customers in Malaysia for nearly 40 years. With BSN targeting urban customers and making inroads to the Chinese market, the dominant perception of BSN as a rural bank has changed.
2nd August 2016
BSN Tightens Lending Rules for Oil and Gas Sector
Bank Simpanan Nasional (BSN) has tightened its lending rules for customers in the oil and gas sector. The bank’s new loans and credit products will be subject to the revisions.
The changes are part of the bank’s periodic review of risks and developments in the financial sector. The oil and gas industry is among the sectors that are facing challenges currently. Crude oil prices fell from more than US$100 a barrel in June 2014 to around US$28 recently, the lowest it has seen in over 12 years.
As per BSN’s responsible lending policy, affordability assessment of all loans will continue to be done.
25th January 2016
Digital Banking partnership between Bank Simpanan Nasional (BSN)and Cisco
In a bid to keep pace with modern technology, Bank Simpanan Nasional is planning to install Virtual Teller Machines (VTM) at 31 branches in the country, with CISCO providing the platform for these new age wonders. These VTMs will help in customer interface, providing real time exchange between tellers and customers. The bank is investing RM 30 million to develop and install these VTMs, using an extremely secure and immersive platform for video interface.
It hopes that these machines will help increase productivity and efficiency of their service, while providing quick solutions to customers. Safety features like card identification, encrypted electronic signatures and fingerprint verification have been incorporated in these VTMs to ensure protection.
06th January 2016