BSN MyRinggit Eksekutif-1 Personal Loan with floating rate is a loan facility by BSN Bank that provides you with funds for personal uses. This facility comes with affordable interest rates and high loan amounts. This personal loan offers easy and affordable repayment tenures that provide you the financial flexibility that you desire.
The interest rates of the BSN MyRinggit Eksekutif-1 Personal Loan with floating rate are listed below:
|Loan Amount||Loan Tenure||Minimum Annual Income||Interest Rate|
|RM5,000 to RM200,000||2 years to 10 years||
Minimum?gross income?of RM3,000 per month (for permanent staff)
Minimum RM10,000 (for contract staff)
|4.10% p.a. (BR) + 5% p.a.|
|Interest Rate||4.10% p.a. (BR) + 5% p.a.|
|Effective Rate||9.10% p.a.|
|Min. Loan Amount||RM5,000|
|Max. Loan Amount||RM200,000|
|Loan Tenure||2 years to 10 years|
|Approval Duration||Not specified|
|Stamp Duty||As per the Stamp Duty Act 1949|
|Advance Payment||Equal to one-month instalment amount|
|Cash Shield Insurance||RM300|
|Late Payment Charges||
|Age Requirement||21 to 60 years|
|Employment||Permanent or contract professionals employed for more than 1 year
|Minimum Income Requirement||Permanent Employees: RM3,000 each month Contract Employees: RM10,000 each month|
|Guarantor/Collateral Requirement||Guarantor/Collateral is not applicable|
|Should I have linked bank account?||Yes. BSN GIRO account|
|Applicants||Salary slips (latest 3 months)|
|NRIC copy (both front and back)|
|EPF Statement (latest)|
|Confirmation letter by employer with the following information:
Q. How much amount one can apply for through this facility?
A. You can apply for a range of amount starting from RM5,000 to a maximum limit of RM200,000. Please note that the amount one can apply for depends upon one’s monthly gross income.
Q. My monthly salary is RM9,000. How much loan amount can I apply for?
A. You can apply for a maximum of RM63,000 with this facility, depending upon your gross monthly income. Please refer to the table below for a better understanding of loan amount under BSN MyRinggit Eksekutif-1 Personal Loan with floating rate:
|Monthly Income||Loan Limit|
|RM3,000 to RM5,000||5 times the monthly income|
|RM5,000 to RM10,000||7 times the monthly income|
|More than RM10,000||10 times the monthly income or RM200,000, whichever is lower|
Q. What is the next step of the process after I submit the form with all the details and the required documents?
A. All the copies of your documents will first be certified by the BSN’s officer before the application gets approved.
Q. Can I settle the amount before it matures? What charges do I have to bear in such cases?
A. You can choose to fully settle the loan amount any time before the maturity date. The bank will not impose any lock-in period or an early settlement fee. You just have need to provide the bank with a written notice in such cases.
Q. Is it necessary to buy the insurance with the loan?
A. No. It is not mandatory to buy the insurance with your loan. However it is recommended to have your loan insured.