• Personal Loan BYTES FROM OUR KITCHEN

    BSN ASB Personal Loan with floating rate

    BSN ASB Personal Loan with floating rate is a loan facility offered by BSN Bank. The personal loan comes with effective interest rates of as low as 4.65% p.a. The loan facility comes with flexible tenures to suit your needs and provides you high loan amounts.

    Interest Rates

    The interest rates of the BSN ASB Personal Loan with floating rate are as follows (Valid for Government as well as private employees):

    The interest rates if payments are done by salary deduction method (For all income range):

    Tenure Interest Rate Effective Rate
    5-30 years (Base Rate + 0.70)% p.a. 4.65% p.a.

    The interest rates for individuals with monthly income more than RM3,000:

    Tenure Interest Rate Effective Rate
    5-30 years (Base Rate + 0.75)% p.a. 4.70% p.a.

    Please note that the current base rate is 3.95% p.a.

    Benefits & Features

    Let’s take a look at the features and benefits associated with BSN ASB Personal Loan with floating rate:

    • You can get a maximum loan amount of up to RM200,000 with this loan facility.
    • The facility lets you choose from a flexible range of tenures that has a maximum limit of 30 years.
    • You can make the payment of monthly instalments via easy payment methods such as BSN standing instruction.
    • The loan is calculated on a variable rate basis.
    • You don’t need a guarantor to accompany you for the application process.
    • You can buy ASB unit trust funds with the help of BSN ASB Personal Loan with floating rate.

    Fees and charges

    The fees and charges associated with BSN ASB Personal Loan with floating rate are given below:

    Fee type Fee details
    Monthly repayment The total monthly repayment varies with the change in base rate.
    Handling and disbursement fee No charge
    Stamp Duty 0.5% of the total approved loan amount as per the Stamp Duty Act 1949
    Early settlement fee No charge
    Will Fee The will fee is RM530.
    ASNB Certificate Fee RM53 will be charged per certificate.
    Insurance (Optional) The insurance charges vary depending upon age, tenure, and loan amount.
    Late Payment charges Late payment charges of 1% p.a. will be charged on the total due amount.

    Eligibility Criteria

    The following are the eligibility criteria of BSN ASB Personal Loan with floating rate:

    • All self-employed individuals and permanent employees can apply for this loan.
    • Minimum age required for the applicants at the time of application is 18 years.
    • The applicants must not be older than 65 years at the end of the financing tenure.
    • All qualified ASB investors under the ASNB guidelines can apply for this loan.

    What documents do i need to prepare for this loan application?

    The list of documents you need to present at the time of application in order to get the loan approved is listed below:

    • The permanent employees must present:
      • A copy of both front and back page of NRIC, and
      • A copy of ASB passbook, and
      • Copies of last 2 months’ salary slips
    • The self-employed individuals must present:
      • A copy of front as well as back page of NRIC, and
      • A copy of ASB passbook, and
      • Copies of last 3 months’ bank statement

    How to apply for BSN ASB Personal Loan with floating rate?

    • Offline application: You can apply for loan at the nearest BSN branch where you need to fill the form with required details and submit it along with the supporting documents. Another way you can apply is by calling the bank’s helpline numbers and submitting your request telephonically.
    • Online Application: Another way to apply for BSN ASB Personal Loan with floating rate is to apply for it online on the bank’s web portal. You need to fill the application form available online with the necessary details and submit it with the documents required in order to get the loan approved.

    FAQs

    1. Q. What is the range of the loan amount I can apply for?

      A. You can apply for an amount ranging from RM10,000 to RM200,000 in multiples of RM1,000 through BSN ASB Personal Loan with floating rate.

    2. Q. What are the repayment tenure available with this facility?

      A. You can opt for repayment tenures from 5 to 30 years. Please note that the age of applicant at the time of end of the period should not exceed 65 years.

    3. Q. What is the procedure after I fill the application form and submit the supporting documents?

      A. The required documents will be certified by BSN’s officer before the process could go to the next step.

    4. Q. What if I choose to settle the whole loan amount any time before the maturity period of the loan? Will I have to pay any fee in such case?

      A. You are allowed to fully settle the entire loan amount at any time before the maturity of the loan facility. In such cases, you need to provide the bank with a written notice. The facility doesn’t have a lock-in period and doesn’t charge you with any fee in early settlement cases.

    5. Q. Do I necessarily have to get the will or insurance with this loan?

      A. No. It is optional to buy insurance or will with the loan. However it is recommended to opt for the insurance in case of emergencies.

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