The BSN MyRinggit Eksekutif-1 is a scheme of personal financing that is exclusively designed to help executives meet their personal loan requirements at affordable fixed rates. This is an unsecured personal loan calculated on the basis of flat rate and it is granted to a BSN Giro or BSN-i account holder.
|Loan Amount||Loan Tenure||Minimum Income||Interest/Profit Rate|
|Up to RM200,000||Up to 10 years||Minimum?gross income?of RM3,000 per month (for permanent staff) and Minimum RM10,000 (for contract staff)||From 6% to 8.50% p.a.|
|Interest Rate||Starting at 6% p.a. (flat rate basis)|
|Minimum Loan Amount||RM10,000|
|Maximum Loan Amount||Up to 10x of monthly gross income or RM200,000 (whichever is lower)|
|Loan Tenure||From 2 to 10 years|
|Stamp Duty||As per the Stamp Act 1949|
|Disbursement and Miscellaneous Fee||NA|
|Goods and Services Tax (GST)||0%|
|Late Payment Charges||
|Age Requirement||21 to 60 years|
|Employment||Permanent and contract officers and staff with 3 years working experience
The financing is only offered to employees of the following:
|Minimum Income Requirement||RM3,000 per month (permanent staff) RM10,000 per month (contract staff)|
|Guarantor/Collateral Requirement||No guarantor or collateral is required|
|Applicants||Payslips (latest 3 months)|
|NRIC copy (both sides)|
|EPF Statement (latest)|
|Confirmation letter by employer with the following information:
A customer can apply for the BSN MyRinggit Eksekutif-1 in following ways:
Q. Is early settlement of the loaned amount allowed? Will the bank charge me any fees if I decide to pay my dues before the lock-in period?
A. There is no lock-in period imposed for the scheme. A customer can pay off his/her financed amount any time. He/she can carry out the early settlement by sending a written notice to the bank informing about the same in advance.
Q. Can the bank debit money from my account if I do not settle the instalments of my personal financing amount?
A. The bank may set-off or transfer the credit balance in your account maintained with the bank if you have any outstanding loan amount. The bank will inform you of this action by sending a prior notice to you.
Q. My income is RM6,000. What amount of personal loan can be granted to me and what will be the interest rate for the same?
A. For your income category, you will be granted a personal loan 7 times of your monthly gross income. The interest rate for your loaned amount will be 7% while you can choose the repayment tenures from 2 years up to 10 years.
Q. I am an employee at a government listed firm. My work experience at the company is that of 2 years, can I apply for the BSN MyRinggit Eksekutif-1?
A. BSN MyRinggit Eksekutif-1 personal financing is open to the permanent and contract based employees and staff that have minimum 3 years of working experience. By this criteria, you will not be eligible to obtain the loan as of now.
Q. How are the late payment charges calculated?
A. The bank will calculate the charges for the late payments as per the following formula:
Monthly Instalments in Arrears × 1% × Number Of Days Overdue ? 365.