Bank Simpanan Nasional (BSN) offers a range of home loan facilities to its customers depending on the income criteria of the applicant. The BSN MyHome packages offer financing packages at competitive interest rates with flexible tenures that allow for easier repayments.
|Loan Scheme||Amount of Loan||Tenure of Loan||
|Zero Entry Cost (ZEC)||Non Zero Entry Cost (NZEC)||Zero Entry Cost (ZEC)||Non Zero Entry Cost (NZEC)|
|BSN MyHome (Residential Property)||Up to RM 100,000||Throughout the Tenure||NA||BR + 3%||NA||BR +3%|
|More than RM 100,000 to RM 300,000||Year 1 to 2||BR + 1.10%||BR + 0.70%||BR + 0.85%||BR + 0.45%|
|After that||BR + 1.10%||BR + 0.70%|
|RM 300,000 and above that||Year 1 to 2||BR+1%||BR+0.60%||BR+ 0.85%||BR + 0.45%|
|After that||BR + 1%||BR + 0.60%|
|BSN MyHome (Program Perumahan Rakyat)||Up to amount RM120,000||Tenure up to 35 years||BR+3%|
|BSN MyHome (Youth Housing Scheme)||From 5 to 35 years||From BR+0.60% to BR+3%|
(Current Base Rate (BR) of the bank is 3.95% (effective from 21 July 2016)
|Nationality Criterion||Malaysian citizen|
|Income Criteria||As per the bank’s discretion|
For Individual Or Joint Applicant:
Offline Application: An interested borrower can walk into the nearest BSN branch and fill the application form. Following that, all other mandatory documents are needed to be submitted by the applicant as and when asked by the bank officials.
Online Application: A customer may visit the official website of BSN and apply for the suitable home loan facility according to their income and requirements. After submitting the form online, the customer care representative of the bank will contact the applicant and carry the application process forward.
|BSN Home Loan||Fees and Charges|
|Stamp Duty Charges||0.5% of total financing amount as per the Stamp Duty Act 1949 (Revised in 1989)|
|Disbursement Fee||As per the bank’s discretion (Includes registration fee, stamping fee etc.)|
|Legal Fee (pertaining to securities documentations)||As per the bank’s discretion|
|Valuation Fee||As per the bank’s discretion (Applicable to completed properties only)|
|Late Payment Charges||1% p.a. on the amount in arrears|
|Early Settlement Fee||2.50% of principle balance amount (if settlement done within 3 years of first disbursement)|
A customer can opt for one of the following repayment channels of the BSN to pay off the regular instalments:
Customers looking for a Mortgage Refinancing Package can consider BSN MyHome (Residential Property). Refinancing can provide competitive profit rates and allow for greater savings.
To know more about the application status or if encountered any difficulty regarding the products, a customer can contact the call centre through the hotline at: 1300 88 1900.
Q. Can I get any assistance from the government to obtain the BSN MyHome Youth Housing Scheme?
A. Yes, the government can pay you RM200 every month for 2 years to obtain your dream home under the BSN MyHome Youth Housing Scheme.
Q. What do I have to offer as a security for MyHome (Residential Property) scheme?
A. Your house will act as a security for this scheme which is calculated on variable rate basis.
Q. What type of charges are included in disbursement fee?
A. The disbursement fee includes a range of fees and charges such as stamping fees, registration of charge, withdrawal of caveats and other related fees.
Q. What actions can be taken by the bank if I fail to make the repayments?
A. BSN has the right to set-off any credit balance in your account(s) maintained with the bank against any outstanding balance in this loan account. The bank will notify you about the same 7 calendar days in advance. Furthermore, legal action will be taken if you fail to respond to reminder notices by the bank and you also have to tolerate the legal costs involved in it.
Q. Is insurance coverage necessary?
A. Mortgage Reducing Term Assurance (MRTA) is required to protect your interest in the unfortunate event of death or permanent disability occurred during the loan tenure.