• Personal Loan BYTES FROM OUR KITCHEN

    BSN MyRinggit BPA (Super Klasik B) Personal Loan

    The BSN MyRinggit BPA (Super Klasik B) personal financing plan is offered by BSN to government servants and staffs of statutory bodies at a lower interest rate compared to other schemes. The candidates with a minimum monthly income of RM2,500 can obtain a personal loan under this scheme.

    Interest Rates

    Income Limit Interest Rate
    RM2,500 to RM5,000 4.75% p.a.
    More than RM5,000 4.50% p.a.

    Benefits and Features

    • It is a type of unsecured personal financing which is calculated on the flat rate basis.
    • The financing plan is exclusively designed for government employees, statutory bodies’ employees and staff of the selected organisations.
    • The candidates who are allowed salary deduction from their employer via BPA which is the Space Services Bureau in Malaysia, can obtain the personal loan facility by BSN.
    • The minimum personal loan amount that can be obtained through the scheme is RM5,000.
    • A customer can get up to a maximum loan amount of RM200,000 through BSN MyRinggit BPA (Super Klasik B).
    • The loan has no lock-in period.
    • He/she can conveniently opt for an early settlement of the loan by providing prior notice to the bank. There are no extra fees charged for the same.
    • A customer is not required to provide collateral to obtain the loan facility.
    • A guarantor is mandatory only if the applicant is a temporary or a contractual employee.
    • A customer can get a personal financing tenure ranging between 2 years to a maximum of 10 years according to the loaned amount.

    Fees and Charges

    Fee type Fee details
    Insurance (optional) Based on the age, tenure and loan amount of the customer
    Advance Payment Equal to 2 months of monthly instalments
    Late Payment Fee 1% p.a. of the outstanding instalment amount
    Stamp Duty As per the Stamp Duty Act 1949 (Revised in 1989)
    Will Fee RM530 (if any)
    Cash Shield Insurance (optional) RM318

    Eligibility Criteria

    • He/she must be a Malaysian citizen.
    • Minimum age of the applicant must be 21 years.
    • The applicant should not be more than 60 years old at the time of maturity of the loan tenure.
    • The minimum income requirement is RM2,500 per month.
    • Permanent employees falling under the listed categories who have been employed for more than 3 months do not need any guarantor.
    • However, any contract based or temporary employee who has completed 12 months of service or more needs to provide a guarantor.
    • The applicant must be a BSN GIRO or BSN-i account holder.

    Listed below are the eligibility criteria for a guarantor:

    • A guarantor needs to be a Malaysian citizen.
    • He/she should be at least 21 years old.
    • If the guarantor is a government employee or a statutory body staff, the guarantor’s age should be less than 55 years at the time of the completion of the customer’s loan tenure.
    • A guarantor should not be over the age of 55 years if he/she is an employee of any other organization which allows salary deduction facility through BPA.
    • The guarantor should be a government employee or a statutory body staff or a servant at selected organizations which allows salary deduction facility through BPA.
    • He/she should be employed for more than 6 months.
    • A guarantor must earn a minimum basic salary of RM2,500 which is equivalent to or higher than the salary of the applicant.
    • He/she should be a BSN Giro or BSN-i account holder.

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

    Mentioned below is the list of documents required for an applicant:

    • Two copies of the NRIC (showing both front and back sides)
    • Employer’s confirmation letter that states:
      • Name and NRIC number of an applicant
      • Designation or status of the candidate
      • Monthly salary
      • Date of employment with the company
      • Date of retirement
      • Two copies of latest salary slips
      • Authorization Letter of Salary Deduction from his/her employer via Biro Perkhidmatan Angkasa (BPA 1/79A)

    Stated below is the list of documents required for a guarantor:

    • Two copies of the NRIC (both front and back sides)
    • Confirmation letter from his/her employer that has the following details:
      • Name and NRIC number
      • Designation or status
      • Monthly salary details
      • Date of employment
    • Two copies of his/her latest salary slips
    • Authorization Letter of Salary Deduction from the guarantor’s employer via Biro Perkhidmatan Angkasa (BPA 1/79A)

    How to Apply for this loan?

    • Offline Application: An applicant can visit the nearest BSN branch and apply for the personal financing scheme. Applicants must submit all the mandatory documents along with the duly filled application.
    • Online Application: The official website of BSN has a provision of making an online application. An applicant can click on the ‘Apply Now’ tab flashed on the website and can complete the process as directed.

    FAQs

    1. Q. I am a contractual employee for a government firm and have been working for more than 13 months. Do I need to present a guarantor as well as a collateral in attempt of obtaining the loan?

      A. As a contractual employee, you will have to present a guarantor at the time of application. However, providing a collateral is not obligatory to get BSN MyRinggit BPA (Super Klasik B).

    2. Q. How can I reach the customer care division of the bank?

      A. You can contact 1300 88 1900 / 03-2613 1900 for any queries regarding the bank products or can also write an email on customercare@bsn.com.my

    3. Q. I am a government servant employed on a temporary basis. Am I eligible to apply for the personal financing scheme?

      A. If you are employed for more than 12 months, you can apply for the BSN MyRinggit BPA (Super Klasik B) personal loan scheme. However, you need to present a guarantor to complete the application procedure.

    4. Q. Does a guarantor have to earn more than the applicant for the loan?

      A. Ideally, a guarantor’s basic salary should be minimum RM2,500 per month. It is necessary that a guarantor’s basic salary should be equivalent to or more than the basic salary of the applicant.

    5. Q. How is the maximum loan amount available through the personal loan decided?

      A. The capping on the personal loan amount granted to the applicant is decided by the bank depending on the salary of the applicant.

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