BSN provides home loan schemes based on the concept of Islamic banking and offers financing schemes available for private sector and public sector borrowers and offers competitive profit rates and flexible tenures allowing borrowers to pay off their instalments in an affordable manner.
|Zero Entry Cost (ZEC)||Non Zero Entry Cost (NZEC)||Zero Entry Cost (ZEC)||Non Zero Entry Cost (NZEC)|
|BSN MyHome-i (Residential Property)||RM 100,000 and below||Whole Tenure||NIL||6.95% p.a.||NIL||6.95% p.a.|
|More than RM 100,000 to RM 300,000||Year 1-2||5.05% p.a.||4.65% p.a.||4.8% p.a.||4.4% p.a.|
|Thereafter||5.05% p.a.||4.65% p.a.|
|RM 300,000 and above||Year 1-2||4.95% p.a.||4.55% p.a.||4.8% p.a.||4.4% p.a.|
|Thereafter||4.95% p.a.||4.55% p.a.|
|BSN MyHome-i (Youth Housing Scheme)||5 to 35 years||Between 4.55% p.a. up to 6.95% p.a.|
(*Current BSN Base Rate (BR) is 3.95%)
|Nationality Criterion||Malaysian citizen|
|Income Criteria||As per the bank’s discretion|
For Individual Or Joint Applicants:
Offline Application: Interested borrowers can visit the nearest BSN Islamic branch and fill the application form. The duly-filled form must be submitted along with the mandatory supporting documents.
Online Application: Customers can visit the official website of BSN and apply for the suitable Islamic home loan facility according to their income and requirements. After submitting the form online, the customer care department of the bank will contact the applicant to 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)|
|Wakalah or Agency Fee||No fee charged|
|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|
A customer can choose from the following repayment channels of the bank to pay the regular instalments:
If a customer is looking for a Mortgage Refinancing Package, he/she can consider BSN MyHome-i (Residential Property) as it could extra funds as a result of the difference between the current property value and the current housing financing.
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: 1300 88 1900.
Q. Can the profit rate change at any point of time throughout my tenure?
A. The profit rate is dependent on the current Base Rate (BR). As the BR might change as per the fluctuations in the financial market, both locally or internationally, the profit rate will also alter. On any such changes in the profit rate, the bank will inform you.
Q. Is it compulsory to have a takaful coverage?
A. It is asked by the bank to have a Mortgage Reducing Term Takaful (MRTT) throughout your tenure on the financing. However, Houseowners/Fire/Takaful Rumahku - Long Term (TRLT) is mandatory for a customer.
Q. If I miss to make the payments on time, what charges do I need to pay?
A. Late payment charges are based on Ta’widh (compensation). For any late payment made within the facility period, the calculation formula used is:
Overdue instalment(s) x 1% x No. of overdue day(s) / 365
After the facility, the charges are calculated as:
Outstanding principal x IIMM x No. of overdue day(s) / 365
IIMM: Islamic Interbank Money Market
Q. What is the applicable base rate (BR) currently?
A. With effect from 21 July 206, the current Base Rate (BR) for the BSN is 3.95%.
Q. I want to acquire the Youth Housing Scheme-i. Along with the financing for my home, can I get financing for my takaful coverage also?
A. BSN will provide you financing amount of 100% of the purchase price of your house and an additional 5% of purchase price to finance the takaful coverage (MRTT).