• Personal Loan BYTES FROM OUR KITCHEN

    BSN MyRinggit-i BPA (Super Klasik B) Personal Loan

    The personal financing scheme BSN MyRinggit-i BPA (Super Klasik B) offers lower interest rates to the government servants and employees of statutory bodies. The scheme is designed for the employees who have a monthly income over RM2,500. The personal loan scheme is based on the Shariah principle of Tawarruq.

    Profit Rates

    For income less than RM5,000:

    Loan Tenure Processing Fee Profit Rate
    2-10 years No fee charged 4.75% p.a.

    For income more than RM5,000:

    Loan Tenure Processing Fee Profit Rate
    2 to 10 years No fee charged 4.50% p.a.

    Features and benefits

    • The loan is calculated on a flat rate basis and it is a form of unsecured personal financing that requires no collateral.
    • Government employees, statutory body employees and the staff of the selected organisations can apply for and benefit from this loan scheme.
    • The candidates who have salary deduction facility via BPA from their employer, can obtain this scheme.
    • Minimum loan amount available with the BSN MyRinggit-i BPA (Super Klasik B) scheme is RM5,000.
    • The maximum financing amount available is RM200,000.
    • If desired, a customer can also opt for the early settlement of his/her loaned amount before the maturity of the tenure.
    • Borrowers must provide prior notice to the bank for settling the loan early. The bank provides rebates to the customer who settle their dues early.
    • For permanent employees who have been employed for a period of 3 months or more, a guarantor is not required.
    • A customer can obtain a financing tenure spanning from 2 years to 10 years on the loaned amount.

    Fees and Charges

    Fee Type Charges
    Processing fee No fee charged
    Late payment fee 1% p.a. of the unsettled amount
    Early termination fee In accordance with the bank’s discretion
    Will fee RM530 (if any)
    Contribution of Cash Protection-i Scheme (optional) RM318
    Stamp duty According to the Stamp Duty Act 1949 (Revised 1989)
    Takaful Contribution Coverage fee Determined by age, tenure and amount financed

    Eligibility Criteria

    For an applicant:

    • Nationality criterion: Malaysian.
    • Minimum age: 21 years.
    • Maximum age: 60 years (at the time of tenure maturity).
    • He/she should earn a minimum amount of RM2,500 per month.
    • The applicant needs to be a BSN GIRO or BSN-i account holder.

    For a guarantor:

    • Nationality criterion: Malaysian.
    • Minimum age: 21 years.
    • Maximum age: 58 years (at the time of tenure maturity of the applicant).
    • A guarantor should be 55 years old or less at the end of the applicant’s loan tenure, 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 is required to earn a minimum basic salary of RM2,500 per month 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?

    For an applicant:

        • Two copies of the NRIC (Malaysian Identity Card)(front and back sides)
        • Employment confirmation letter disclosing name, designation, salary details, and date of retirement of the applicant.
        • Two copies of latest salary slips.
        • Approval Letter of Salary Deduction from his/her employer via Biro Perkhidmatan Angkasa (BPA 1/79A).

    For a guarantor:

      • Two copies of the NRIC (front and back sides)
      • Employment confirmation letter disclosing details such as Name and NRIC number, designation, and salary drawn.
      • 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 BSN MyRinggit-i BPA (Super Klasik B) Personal Loan?

    • Offline Application: An applicant can visit the nearest BSN branch and request for the application form. The applicant must then submit the application form along with the required documents to start the process.
    • Online Application: An applicant can also use the official website of BSN to apply for the personal loan scheme. He/she can click on the section and download the printable form from the website.

    FAQs

    1. Q. I am a temporary employee at a government office and I have been working there for more than 15 months. Do I need to present both a guarantor and a collateral to obtain the personal loan scheme?

      A. Any temporary or contract based employee who has been employed for more than 12 months at a government organization or statutory body firm, needs to present a guarantor while applying for the loan. However, presenting collateral is not required.

    2. Q. How to reach the customer care department of the BSN?

      A. For any queries and doubts regarding the products, you can contact 1300 88 1900 / 03-2613 1900 or you can also write an email on [email protected]

    3. Q. I am a government servant employed on a temporary basis. I have been working for less than 9 months with my company. Am I eligible to apply for this personal loan scheme?

      A. As a temporary or contract based employee, if you have not been employed for more than 12 months, you cannot apply for the BSN MyRinggit-i BPA (Super Klasik B) personal loan scheme.

    4. Q. What if I lack one of the required documents? Do I need to submit all the above given documents while applying for the loan?

      A. Yes, all personal and employment related documents are mandatory to present for both the applicant and the guarantor. For further queries, please contact the call center.

    5. Q. How is the maximum limit on my personal loan decided?

      A. The maximum limit on the personal loan amount approved for the applicant is decided by the bank as per his/her salary/income.

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