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:
|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.
The following are the benefits and features associated with BSN MyRinggit Eksekutif-1 Personal Loan with floating rate:
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|
Let’s take a look at the eligibility criteria for BSN MyRinggit Eksekutif-1 Personal Loan with floating rate:
The following is the list of documents required at the time of application for BSN MyRinggit Eksekutif-1 Personal Loan with floating rate:
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.