• BSN Personal Loan

    Bsn Personal Loan

    This loan is apt for people who are looking for a long tenure for loan repayment with options of floating rates for paying off their personal loan repayments, monthly. The tenure can go as high as 10 years, which is very convenient for people who wish to make small repayments without ever overwhelming their finances or monthly budget. You can also put standing instructions for loan repayments and always never have to worry about forgetting to make the repayments or having to pay late-payment charges. The interest rates are also reasonably low and can be between 5.5% to 8%, based on the loan amount that you are borrowing. Also, there are two options to choose from, one with a floating rate, and one without one. Then, there may be a time in the future when you are able to make the rest of the loan repayments at one go, before your tenure ends. For this, all you need to do is a write an attested letter to BSN, requesting for an early loan settlement. Also, one of the most convenient factors for this loan is the fact that the loan amount does not have any such bracket, but is completely based on the applicant’s income. The maximum loan amount permissible by the bank is hence set as up to 10 times the income of the applicant, which is pretty fair and square. To know more about this product, read on.


    You’re probably eligible for an BSN Bank Personal Loan if you are

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     BSN Bank Personal Loan Minimum Age

    At least 21 years old

    BSN Bank Personal Loan Maximum Age

    Less than 60 years old

    BSN Bank Personal Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

     BSN Bank Personal Loan Minimum Income

    Earn more than the minimum
    income required


    Your BSN Bank Personal Loan amount eligibility is based on these factors

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    BSN Bank Personal Loan Minimum Salary

    Minimum income required
    RM 3,000

    BSN Bank Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is RM 200,000

    BSN Bank Personal Loan Installments

    Installments of other loans lower
    your eligibility


    Increase your eligible BSN Bank Personal Loan amount by these steps

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    BSN Bank Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

     BSN Bank Personal Loan Tenure

    Choose longer tenure loan up to 10 years


    Documentation needed to apply for BSN Bank Personal Loan

    • 1.Copy of NRIC
    • 2. Copy of latest three (3) months pay slip
    • 3. Latest EPF statement
    • 4. Employment Confirmation Letter or
      Latest one (1) year EA / EC statement and e-filing form or any verified documents by the Inland Revenue Board (LHDN)

    BSN Bank Personal Loan Interest RatesUpdated on 07 Dec 2016

    BSN Bank Personal Loan Details
    Interest Rate as per Income 8% RM 3000 - RM 5000
    6.50% RM 5000 - RM 10,000
    5.50% > RM 10,000
    Minimum Income RM 3,000
    Tenure 10 years

    BSN offers personal loans to help the executives to meet the personal financing needs at an affordable rate. BSN offers personal loans at a fixed rate as well as floating rate. The floating rate helps individuals meet their financial needs at the rate which follows the latest market conditions.

    Benefits of BSN Personal Loan

    1. Variety of schemes – There are a number of personal loan schemes available with BSN specially designed for people from different backgrounds.
    2. Attractive Rates – The interest rates are attractive and in line with popular expectations.
    3. Longer Tenure – Up to 10 year loans are available so that the burden of monthly repayment is less.
    4. Good Loan Limits – Up to ten times the monthly gross income is considered as the loan amount.
    5. No Lock-in Period – There is no lock-in period. Hence, the customer can make excess payments or close the loan at any time.
    6. Early settlement allowed – It is possible to settle the loan at any time. The customer has to send a written notice to the bank to settle the loan before the end of the tenure.

    Interest Rates & Loan Limits of BSN Personal Loan

    • For income between RM 3,000 and RM 5,000, the loan limit is 5 times monthly gross income. The interest rate applicable is 8%.
    • For income between RM 5,000 and RM 10,000, the loan limit is 7 times the monthly gross income and the interest rate applicable is 6.5%.
    • For income greater than RM 10,000, the loan limit is 10 times the monthly gross income or RM 200,000 whichever is lower. In that case, the applicable interest rate is 5.5%

    Types of Bank Simpanan Nasional Personal Loans

    The two types of personal loans offered by BSN are:

    Executive – 1:

    Executive – 1 is designed exclusively to help the executives to meet their personal financing goals at an affordable rate.

    Eligibility criteria:

    The following is the eligibility criteria to avail BSN Executive – 1 personal loan:

    • The applicant must be a Malaysian citizen.
    • The citizen must be minimum 21 years of age and not more than 55 years. The maximum age can exceed to 60 years if the employer can confirm the applicant’s employment.
    • Permanent and contract officers and staff having a minimum of 3 years of work experience are eligible.
    • Employees of private hospitals, Premier Developer Panel, licensed financial institution, PETRONAS group of companies, multinational company, statutory body, select private university and college, government link company, industrial product, technology, doctors, trading or service, architect, accountant, lawyer and other certified professionals are eligible for taking the Executive – 1 personal loan.
    • GIRO- I or BSN GIRO account holder can avail this loan.
    • The minimum gross income is set at RM3,000 per month for staff members.
    • The minimum gross income for the contract staff is set at RM10,000.

    Features of Executive – 1

    The features are as follows:

    • The mode of payment is through BSN standing instructions.
    • The minimum loan tenure is 2 years.
    • The maximum loan tenure is 10 years.
    • The interest rate offered is as follows:
    • 8% for those whose income ranges from RM3,000 – RM5,000 and the maximum loan amount that can be offered is 5 times the monthly gross income.

      6.50% whose income is above RM5,000 up to RM10,000 and the maximum loan amount offered is 7 times the monthly gross income.

      5.50% for those whose income is above RM10,000 and the maximum loan amount offered is 10 times the monthly gross income or RM200,000, whichever is lower.

    • The late payment charge is the monthly instalment in arrears multiplied by 1% multiplied by the number of days overdue divided by 365.

    Documents required

    The documents required while applying for the loan is as follows:

    • Last 3 months salary slip copy
    • NRIC copy (both side must be copied)
    • Latest EPF statement
    • Confirmation letter that states the name and NRIC, monthly salary, designation and employment status and the date of employment.
    • Latest EC / EA statement and latest e-filing form or other verified document by the LHDN can also be submitted.

    Executive – 1 with floating rate:

    Executive – 1 with floating rate is designed exclusively to help the executives to meet their personal financing goals at rates that follow the latest market conditions.

    Eligibility criteria:

    The following is the eligibility criteria to avail BSN Executive – 1 with floating rate personal loan:

    • The applicant should be a Malaysian citizen.
    • The applicant must be minimum 21 years of age and not more than 55 years. If the employer can confirm the applicant’s employment, the maximum age can exceed to 60 years.
    • Permanent and contract officers and staff who have been employed for more than a year are eligible.
    • Doctors, trading or service, architect, accountant, lawyer and other certified professionals and employees of private hospitals, Premier Developer Panel, licensed financial institution, PETRONAS group of companies, multinational company, statutory body, select private university and college, government link company, industrial product, technology are eligible for taking the Executive – 1 with floating rate personal loan.
    • The minimum gross income is set at RM10,000 for the contract staff.
    • The minimum gross income for staff members is set at RM3,000 per month.
    • GIRO- I or BSN GIRO account holder can also avail this loan.

    Features of Executive 1

    The features are as follows:

    • The mode of payment is BSN standing instructions.
    • The minimum loan tenure offered is 2 years.
    • The maximum loan tenure offered is 10 years.
    • The minimum loan amount offered is RM5,000 and the maximum loan amount offered is RM200,000.
    • Loan limit for the different income ranges are as follows:
    • Those whose income ranges from RM3,000 – RM5,000 the maximum loan amount that can be offered is 5 times the monthly gross income.

      Those whose income is above RM5,000 up to RM10,000 the maximum loan amount offered is 7 times the monthly gross income.

      Those whose income is above RM10,000 and the maximum loan amount offered is 10 times the monthly gross income or RM200,000, whichever is lower.

    • The late payment charge is the monthly instalment in arrears multiplied by 1% multiplied by the number of days overdue divided by 365.
    • The interest rate is basic rate plus 4.85%. The current BSN base rate is 4.10% which is in effect from 1st April, 2015.

    Documents required

    The documents submitted must be certified by BSN’s officer. The documents required while applying for the loan is as follows:

    • Last 3 months salary slip copy
    • Latest EPF statement
    • NRIC copy (both side must be copied)
    • Confirmation letter that states the name and monthly salary, designation, NRIC and the date of employment.
    • Latest EC / EA statement and latest e-filing form or other verified document by the LHDN can also be submitted.

    How to Calculate Loan Installment for BSN Personal Loan?

    Thanks to the online calculator tool hosted at bbazaar.my, calculating your monthly loan installment for BSN personal loan is not a herculean task anymore. This online tool asks users to input key parameters like desired personal loan amount, the loan tenure and rate of interest. This information is then used by the calculator to yield the final monthly installment amount for personal loan. The personal loan installment calculator is quite a useful tool considering how complex manual calculations tend to be. The input parameters can be adjusted by customers to reach their most comfortable monthly installment amount. Also, knowing beforehand, the loan installment amount is a positive thing for better and efficient financial planning.

    FAQs on BSN Personal Loan

    1. What are the different types of personal loans offered by BSN?

      A.BSN offers Executive – 1 and Executive – 1 with floating rate.

    2. What is the age requirement to avail the BSN personal loan?

      A. The applicant must be minimum 21 years of age and not more than 55 years of age. 60 years is the maximum limit if the employer confirms the employee’s employment.

    3. Is there any late payment charge?

      A. Yes, late payment charge is charged if the loan payment is delayed.

    4. How is the late payment charge calculated?

      A. The late payment charge is calculated using the formula: monthly instalment in arrears multiplied by 1% multiplied by the number of days overdue divided by 365.

    5. What is the tenure offered for BSN personal Loan?

      A. The minimum tenure offered is 2 years and the maximum is 10 years.

    Other Products offered by BSN:

    Apart from offering personal loan, BSN offers other products and services which includes:

    News About BSN Personal Loan

    • Bank Simpanan Nasional awards 5 year contract to Telekom Malaysia Bhd

      Bank Simpanan Nasional has entered into a 5 year contract with Telekom Malaysia Bhd to receive network transformation services. Even though the CEO of Telekom Malaysia, Tan Sri Zamzamzairani, has not disclosed the value of the deal the contract does translate into TM connecting 413 branches of BSN though a wide area network. The services will also include TM helping BSN improve their teleconferencing capabilities allowing them to conduct conferences in HD.

      Mr. Zamzamzairani did say that the project was already 40% complete and was expecting to complete it by March of 2016. He also reported that the aim of the project was to help the bank improve their customer service and user experiences. He also said that in their other dealings related to high speed broadband 2 services and Sub-urban Broadband projects, they were awaiting the government’s response after having completed the negotiations.

      10th September 2015

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