• Personal Loan BYTES FROM OUR KITCHEN

    BSN Personal Loan

    An Unsecured Personal Loan with high financing amount of up to RM200,000 with a tenure range going up to 10 years.

    Bank Simpanan Nasional (BSN) was established in 1974. The bank has been providing financial solutions to its customers since. These financial services include loans, credit cards, fixed deposits, among many others.

    The bank offers a wide array of personal loans to suit your financial needs. The personal loans offered by the bank come at a range of competitive interest rates and flexible repayment tenures.

    Compare Personal Loans by BSN

    Name of Personal Loan Interest/Profit Rate Max. Loan Amount Min. Monthly Income Tenure For More Info.
    BSN MyRinggit Eksekutif-1 6% p.a. to 8.50% p.a. (Flat Rate) RM200,000 RM3,000 (for permanent employees) 2 to 10 years
    RM10,000 (for contract employees)
    BSN MyRinggit-i Eksekutif-1 6% p.a. to 8.50% p.a. RM200,000 RM3,000 (for permanent employees) 2 to 10 years
    RM10,000 (for contract employees)
    BSN MyRinggit SCOP (Klasik) 4.50% p.a. to 4.75% p.a. (Flat Rate) RM200,000 RM800 2 to 10 years
    Fixed Rate = 4.60% p.a. to 5.30% p.a.
    BR + 3.22% p.a. to BR + 3.77% p.a. (Floating Rate)
    BSN MyRinggit-i SCOP (Klasik) 4.50% p.a. to 4.75% p.a. (Flat Rate) RM200,000 RM800 2 to 10 years
    Fixed Rate = 4.60% p.a. to 5.30% p.a.
    BR + 3.22% p.a. to BR + 3.77% p.a. (Floating Rate)
    BSN MyRinggit-i SCOP (Super Klasik B) 4.50% p.a. to 4.75% p.a. (Fixed Rate) RM200,000 RM2,500 2 to 10 years
    BR + 3.22% p.a. to BR + 3.77% p.a. (Floating Rate)
    BSN MyRinggit-i BPA (Klasik) 4.50% p.a. to 4.75% p.a. (Fixed Rate) RM200,000 RM800 2 to 10 years
    BR + 3.22% p.a. to BR + 3.77% p.a. (Floating Rate)
    BSN MyRinggit BPA (Super Klasik B) 4.50% p.a. to 4.75% p.a. (Fixed Rate) RM200,000 RM2,500 2 to 10 years
    BR + 3.22% p.a. to BR + 3.77% p.a. (Floating Rate)
    BSN MyRinggit-i BPA (Super Klasik B) 4.50% p.a. to 4.75% p.a. (Fixed Rate) RM200,000 RM2,500 2 to 10 years
    BR + 3.22% p.a. to BR + 3.77% p.a. (Floating Rate)
    BSN MyRinggit SKAP (Klasik) 4.50% p.a. to 4.75% p.a. (Flat Rate) RM200,000 RM800 2 to 10 years
    Fixed Rate = 4.60% p.a. to 5.30% p.a.
    BR + 3.22% p.a. to BR + 3.77% p.a. (Floating Rate)
    BSN MyRinggit-i SKAP (Klasik) 4.50% p.a. to 4.75% p.a. (Flat Rate) RM200,000 RM800 2 to 10 years
    Fixed Rate = 4.60% p.a. to 5.30% p.a.
    BR + 3.22% p.a. to BR + 3.77% p.a. (Floating Rate)
    BSN MyRinggit SKAP (Super Klasik B) 4.50% p.a. to 4.75% p.a. (Fixed Rate) RM200,000 RM2,500 2 to 10 years
    BR + 3.22% p.a. to BR + 3.77% p.a. (Floating Rate)
    BSN MyRinggit-i SKAP (Super Klasik B) 4.50% p.a. to 4.75% p.a. (Fixed Rate) RM200,000 RM2,500 2 to 10 years
    BR + 3.22% p.a. to BR + 3.77% p.a. (Floating Rate)
    BSN MyRinggit SKAN (Klasik) 4.50% p.a. to 4.75% p.a. (Fixed Rate) RM200,000 RM800 2 to 10 years
    BR + 3.22% p.a. to BR + 3.77% p.a. (Floating Rate)
    BSN MyRinggit-i SKAN (Klasik) 4.50% p.a. to 4.75% p.a. (Fixed Rate) RM200,000 RM800 2 to 10 years
    BR + 3.22% p.a. to BR + 3.77% p.a. (Floating Rate)
    BSN MyRinggit SKAN (Super Klasik B) 4.50% p.a. to 4.75% p.a. (Fixed Rate) RM200,000 RM2,500 2 to 10 years
    BR + 3.22% p.a. to BR + 3.77% p.a. (Floating Rate)
    BSN MyRinggit-i SKAN (Super Klasik B) 4.50% p.a. to 4.75% p.a. (Fixed Rate) RM200,000 RM2,500 2 to 10 years
    BR + 3.22% p.a. to BR + 3.77% p.a. (Floating Rate)
    BSN ASB with Floating Rate BR + 0.85% p.a. to BR + 1.25% p.a. RM200,000 - 5 to 30 years
    BSN Personal Loan for Private Sector 6% p.a. to 8.50% p.a. (Flat Rate) RM200,000 - Up to 30 years
    BR + 0.85% to BR + 1.25% p.a. (Floating Rate)

    *((Current BR for BSN = 4.10% p.a.) Effective from 7 February 2018)

    Features

    Loan Tenure 10 years
    Min. monthly income RM2,500
    Min. Loan Amount RM5,000
    Debt Consolidation No
    Islamic/Conventional Islamic
    Takaful Cover Not Mandatory

    Interest rates

    The interest rates associated with the loan facility is mentioned in the following table:

    Package name Loan tenure Processing fee Interest rate
    BSN MyRinggit ASB with Floating Rate Up to 30 years No charge Up to 4.70% p.a.
    BSN MyRinggit Eksekutif-1 Up to 10 years No charge Up to 8.50% p.a.
    BSN MyRinggit Eksekutif-1 with Floating Rate Up to 10 years No charge Up to 8.95% p.a.
    BSN MyRinggit SCOP (Klasik) Up to 10 years No charge Fixed rate: up to 5.30% p.a.
    Floating rate: Up to 7.72% p.a.
    BSN MyRinggit SCOP (Super Klasik B) Up to 10 years No charge Fixed rate: 4.75% p.a.
    Floating rate: Up to 7.72% p.a.
    BSN MyRinggit BPA (Klasik) Up to 10 years No charge Fixed rate: 4.75% p.a.
    Floating rate: Up to 7.72% p.a.
    BSN MyRinggit BPA (Super Klasik B) Up to 10 years No charge Fixed rate: 4.75% p.a.
    Floating rate: Up to 7.72% p.a.
    BSN MyRinggit SKAP (Klasik) Up to 10 years No charge Fixed rate: up to 5.30% p.a.
    Floating rate: Up to 7.72% p.a.
    BSN MyRinggit SKAP (Super Klasik B) Up to 10 years No charge Fixed rate: 4.75% p.a.
    Floating rate: Up to 7.72% p.a.
    BSN MyRinggit SKAN (Klasik) Up to 10 years No charge Fixed rate: 4.75% p.a.
    Floating rate: Up to 7.72% p.a.
    BSN MyRinggit SKAN (Super Klasik B) Up to 10 years No charge Fixed rate: 4.75% p.a.
    Floating rate: Up to 7.72% p.a.

    Benefits

    The following is the list of benefits associated with BSN personal loan:

    • You can get a maximum loan amount of up to RM200,000 with the loan scheme.
    • You can choose the financing tenure according to your repayment capacity. The maximum tenure associated with the BSN MyRinggit ASB with Floating Rate is 30 years. The repayment tenures with all other packages can be extended to 10 years.
    • The amount obtainable with the loan comes with a range of competitive rates of interest.
    • The minimum amount you can get via this loan facility is RM5,000.
    • The repayments for the loan can be made via easy payment methods.
    • The financing amount obtainable through the facility is in multiples of RM1,000.

    Fees and charges

    The following table contains the fees and charges associated with the loan facility:

    Fee type Fee details
    Stamp duty As per the Stamp Duty Act, 1949.
    Will Fee (if any) RM530.
    Insurance (Optional) Based on the financing amount, tenure chosen, and age of the applicant.
    ASNB certificate (only for BSN MyRinggit ASB with Floating Rate) RM53 per certificate.
    Cash shield insurance (optional) RM318.
    Late payment charges Late payment charges can be calculated using the formula below: L = Amount of monthly instalment due x 1% x number of overdue days / 365.

    Eligibility Criteria

    The eligibility criteria of the loan are as follows:

    • BSN GIRO/i account holders can apply for the loan.
    • Minimum age requirement: The minimum age required to apply for BSN MyRinggit ASB with Floating Rate is 18 years. The minimum age required to apply for all other packages is 21 years.
    • Maximum age allowed: You should be younger than 65 years of age at the time maturity of BSN MyRinggit ASB with Floating Rate. For all other packages, the maximum age limit at the time of maturity is 60 years.
    • Nationality requirement: You need to be a Malaysian citizen in order to apply for the loan.
    • Employment requirement:
      • SCOP (Klasik): Employees of PDRM (Royal Malaysian Police Force) with at least 3 months in service.
      • SCOP (Super Klasik B): Employees of PDRM (Royal Malaysian Police Force) with a minimum of 3 months in service.
      • BPA (Klasik):
        • Permanent employees of statutory bodies and government servants with a minimum of 3 months in service.
        • Government servants and employees of statutory bodies working on a contract basis with at least 12 months into service.
      • BPA (Super Klasik B):
        • Permanent employees of statutory bodies and government servants with at least 3 months into service.
        • Government servants and employees of statutory bodies working on a contract basis with a minimum of 12 months in service.
      • SKAN (Super Klasik B):
        • State government department working on permanent basis with a minimum of 3 months in service.
        • Employees of state government department who are working on a contract basis with 12 or more months in service.
      • SKAN (Klasik):
        • Employees of state government working on permanent basis with 3 or months in service.
        • Contract-based state government employees of statutory bodies with a minimum of 12 months into service.
      • SKAP (Klasik):
        • Permanent employees of federal government servants who are in service for at least 3 months.
        • Federal government servants working on a contract or temporary basis with 12 months or more into service.
      • SKAP (Super Klasik B):
        • Permanent employees of Federal government servants with a minimum of 3 months in service.
        • Federal government servants working on a temporary or contract basis and are in service for at least 12 months.
      • Eksekutif-1 with Floating Rate: Executive employees of GLCs (Government Linked Companies), PLCs (Public Listed Companies), MNCs (Multinational companies), GLAs (Government Linked Agencies), and any other company or organisation listed by BSN with a minimum of 1 year into service.
      • Eksekutif-1: Employees of government link companies, premier developer panel, private hospitals, telecommunication companies, PETRONAS group of companies, licensed financial institutions, multinational companies, selected private universities and colleges, statutory bodies, selected public listed companies and professionals such as architects, doctors, engineers, lawyers etc. with a minimum of 3 years into service.
      • ASB with Floating Rate: All qualified ASB investors (salary-earning employees and self-employed individuals) under the guidelines of ASNB.
    • Income requirement:
      • SCOP (Klasik): RM800 per month.
      • SCOP (Super Klasik B): RM2,500 per month.
      • BPA (Klasik): RM800 per month.
      • BPA (Super Klasik B): RM2,500 per month.
      • SKAN (Super Klasik B): RM2,500 per month.
      • SKAN (Klasik): RM800 per month.
      • SKAP (Klasik): RM800 per month.
      • SKAP (Super Klasik B): RM2,500 per month.
      • Eksekutif-1 with Floating Rate:
        • For permanent employees: RM3,000 per month.
        • For employees working on a contract basis: RM10,000 per month.
      • Eksekutif-1:
        • For permanent staff: RM3,000 per month.
        • For contract staff: RM10,000 per month.

    What documents do I need to prepare?

    You need to present the following documents for the BSN personal loan application:

    • A copy of NRIC (front and back page).
    • Copies of income proof.
    • Copies of EPF statement or EA form (wherever required).
    • Employment confirmation letter for salaried employees.
    • Letter of authorisation of salary deduction from employer (wherever required) via Biro Perkhidmatan Angkasa (BPA 1/79).
    • Any other document required by the bank.
    • Guarantors are required to present the same set of documents (wherever guarantor is required).

    How to apply for personal loan from BSN bank?

    • Offline application: You can apply for personal loan by visiting the nearest branch of BSN. In order to complete the BSN personal loan application process, you need to fill the application form and submit the required documents. You can also put a request for the loan telephonically via BSN’s customer service numbers.
    • Online application: You can also apply for the loan on the official website of BSN. You need to upload the necessary documents and fill up the application form available on the bank’s website.

    How do I pay my repayments?

    You can make the repayments for the loan via the following payment methods:

    • By placing BSN standing instructions.
    • By salary deduction via Biro Perkhidmatan Angkasa.

    For government employees

    The bank offers the following personal loan packages to employees of government:

    • BSN MyRinggit SCOP (Klasik)
    • BSN MyRinggit SCOP (Super Klasik B)
    • BSN MyRinggit BPA (Klasik)
    • BSN MyRinggit BPA (Super Klasik B)
    • BSN MyRinggit SKAN (Super Klasik B)
    • BSN MyRinggit SKAN (Klasik)
    • BSN MyRinggit SKAP (Klasik)
    • BSN MyRinggit SKAP (Super Klasik B)

    For private sector employees

    The bank provides the employees of private sector with the following loan packages:

    • BSN MyRinggit Eksekutif-1 with Floating Rate
    • BSN MyRinggit Eksekutif-1
    • BSN MyRinggit ASB with Floating Rate

    Calculator

    The monthly instalment associated with the loan is calculated on the basis of loan amount, tenure chosen, and the interest rate offered.

    Customer care

    You can contact the bank regarding any query related to the loan via the following customer service numbers:

    • Local: 1300-88 1900
    • Overseas: +603-2613 1900.

    FAQs

    Q. Can I settle the loan amount before its maturity?

    A. Yes, you can settle the loan amount before the term’s maturity.

    Q. Should I take the insurance with my loan?

    A. Though it is not compulsory to take the insurance with your loan, it’s highly recommended to opt for the same for the entire tenure of the loan.

    Q. What is the range of amount I can apply for via this loan scheme?

    A. You can apply for a minimum of RM5,000 and a maximum of RM200,000 in multiples of RM1,000 with the loan.

    Q. Do I need a guarantor for the loan process?

    A. The requirement of a guarantor can vary from package to package and application to application.

    Q. How can I check the status of my application for BSN personal loan?

    A. Once you apply for the loan after submitting the documents required, the documents will be verified. After a successful verification, you will be contacted by the bank about the approval of the loan.

    Q. What are the factors that decide the maximum limit of the loan amount I can get?

    A. The loan amount obtainable depends upon your monthly salary and repayment capacity.

    Q. What is the minimum tenure I can get with the loan?

    A. The minimum tenure associated with the loan is 2 years.

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