• Personal Loan BYTES FROM OUR KITCHEN

    BSN MyRinggit Eksekutif-1 Personal Loan with floating rate

    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.

    Interest Rates

    The interest rates of the BSN MyRinggit Eksekutif-1 Personal Loan with floating rate are listed below:

    Tenure Interest Rate Effective Rate
    Up to 10 years (Base Rate + 5.00)% p.a. 8.95% p.a.

    Where the current base rate for BSN = 3.95% p.a.

    Benefits & Features

    The following are the benefits and features associated with BSN MyRinggit Eksekutif-1 Personal Loan with floating rate:

    • You can get a loan of up to 10 times of your gross monthly income or a maximum of RM200,000 through BSN MyRinggit Eksekutif-1 Personal Loan with floating rate.
    • You can choose to repay the loan amount over a tenure of up to 10 years with this loan facility.
    • The repayment for the loan can be made through easy payment methods like BSN standing instruction.
    • You don’t need to be accompanied with a guarantor in order to get this loan.
    • The loan facility comes with a variable interest rate range.

    Fees and charges

    The following are the fees and charges associated with BSN MyRinggit Eksekutif-1 Personal Loan with floating rate:

    Fee type Fee details
    Monthly repayment The total monthly repayment is subject to the variation in the base rate.
    Handling and disbursement fee No charge
    Stamp Duty 0.5% of the total loan amount that is approved as per the Stamp Duty Act 1949
    Early settlement fee No charge
    Will Fee The will fee is RM530.
    Cash Shield Insurance It is optional to get the cash shield insurance. RM318 will be charged if you opt for it.
    Insurance (Optional) The insurance charges can vary with age, tenure, and loan amount.
    Advance Payment One month of monthly instalment needs to be paid as the advance payment.
    Late Payment charges Late payment charges are calculated using the following formula: (Monthly instalment amount x 1% x number of days overdue)/365

    Eligibility Criteria

    Let’s take a look at the eligibility criteria for BSN MyRinggit Eksekutif-1 Personal Loan with floating rate:

    • Any Malaysian citizen who is at least 21 years old at the time of application and is not older than 60 years by the time of the maturity of the loan ends can apply for this loan.
    • Permanent or contract based employees with at least one year into employment can apply for this loan.
    • Any employee of GLCs, GLAs, PLCs, MNCs, and any organisation that is listed by BSN can apply for the loan.
    • Applicants should have an income of RM36,000 p.a. in order to get the benefits of this loan.
    • The minimum income required for the contract-based employees is RM120,000 p.a.
    • Account holders of BSN GIRO/i accounts can also apply for this loan.

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

    The following is the list of documents required at the time of application for BSN MyRinggit Eksekutif-1 Personal Loan with floating rate:

    • The front as well as back page copy of NRIC, and
    • Copies of last 3 months’ salary slips, and
    • A copy of the latest EPF statement, and
    • The confirmation letter from the employer that includes the applicant’s name, NRIC, designation, monthly salary, and the date of employment, or
    • Last 1 year’s EA/EC statement and e-filling form or the documents verified by LHDN.

    How to apply for BSN MyRinggit Eksekutif-1 Personal Loan with floating rate?

    • Offline application: The application for the BSN MyRinggit Eksekutif-1 Personal Loan with floating rate can be made at the nearest BSN Bank’s branch where you need to fill up the application form with required details and present it with the supporting documents. The request can also be made telephonically where you can reach the bank’s representatives through the bank’s helpline number.
    • Online Application: If you wish to save the time and efforts of going to the bank’s branch physically, you can also opt to apply for BSN MyRinggit Eksekutif-1 Personal Loan with floating rate online. The form available online needs to be filled with necessary details and submitted along with the supporting documents.

    FAQs

    1. 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.

    2. 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
    3. 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.

    4. 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.

    5. 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.

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