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.
At least 21 years old
Less than 60 years old
Salaried or self-employed
with regular income
Earn more than the minimum
Minimum income required
Maximum allowed personal loan is RM 200,000
Installments of other loans lower
Pay off your credit card bills
Choose longer tenure loan up to 10 years
|Interest Rate as per Income|| 8.50% >RM 3000 - RM 5000
7% >RM 5000 - RM 10,000
6% > RM 10,000
|Minimum Income||RM 3,000|
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.
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.
The following is the eligibility criteria to avail BSN Executive – 1 personal loan:
Features of Executive – 1
The features are 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 documents required while applying for the loan is as follows:
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.
The following is the eligibility criteria to avail BSN Executive – 1 with floating rate personal loan:
Features of Executive 1
The features 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 documents submitted must be certified by BSN’s officer. The documents required while applying for the loan is as follows:
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.
A.BSN offers Executive – 1 and Executive – 1 with floating rate.
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.
A. Yes, late payment charge is charged if the loan payment is delayed.
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.
A. The minimum tenure offered is 2 years and the maximum is 10 years.
Apart from offering personal loan, BSN offers other products and services which includes: