Cash woes? A personal loan to the rescue!
Personal Loan BYTES FROM OUR KITCHEN

BSN MyRinggit-i Eksekutif-1 Personal Loan

BSN MyRinggit Eksekutif-1 Personal Loan is a loan facility by BSN Bank that offers funds on a flat rate basis. The facility follows the Shariah concept of Tawarruq that comprises of Wakalah and Bai Murabahah contracts.

Profit Rates

Loan Amount Loan Tenure Eligibility Profit Rate
RM10,000 to RM200,000 2 years to 10 years Malaysian citizens Permanent and contract staff with minimum experience of 3 years 6.00% p.a. to 8.50% p.a.

Features

Profit Rate 6.00% p.a. to 8.50% p.a.
Minimum Loan Amount RM10,000
Maximum Loan Amount RM200,000
Loan Tenure 2 years to 10 years
Islamic/Conventional Islamic
Debt Consolidation No
Takaful Coverage Optional
Approval Duration Not specified
Government Servant? Yes

Benefits

  • Through this personal loan facility, you can apply for a maximum loan amount of up to RM200,000.
  • The loan facility comes with flexible repayment tenures of up to 10 years.
  • You can make the repayment via easy payment modes like BSN standing instruction, IBG, ATM/CDM, and placing standing instructions on the salary crediting accounts from other financial institutions.
  • The facility comes with a fixed interest rate of as low as 6% p.a.
  • The loan facility doesn’t require a guarantor or a collateral.

Fees and charges

Stamp Duty As per Stamp Duty Act 1949 (Revised 1989)
Processing Fee None
Disbursement and Miscellaneous Fees None
Will RM530 (if applicable)
Takaful Based on loan amount, tenure and age of applicant
Contribution to Cash Protection-i RM318

Penalty Charges

Early Settlement Not specified
Late Payment Before tenure ends: 1% of the total outstanding amount After tenure ends: Equivalent sum to BNM’s IIMM rate (Islamic Interbank Money Market) on the outstanding amount

Eligibility Criteria

Age 21 years and above Maximum 55 or 6 years at the end of loan tenure
Employment Only for employees of Premier Developer Panels, Telecommunication Companies, Multinational Companies, Private Hospitals, PETRONAS Group of Companies, Licensed Financial Institutions, Statutory Bodies, Selected Public Listed Companies in Main Market Bursa Malaysia (Financial, Plantation, Property, Technology, Trading/ Service, Industrial Product, Consumer Sectors only), Selected Private Universities & Colleges, Government Link Companies, and Professionals (Doctors, Architects, Lawyers, Accountants, and other certified Professionals)
Minimum Income Permanent staff: RM3,000 per month Contract staff: RM10,000 per month
Guarantor/Collateral No
Linked Bank Account Yes (BSN Giro/i account)

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

Applicants Copy of NRIC (front and back) Latest salary slips (3 months) Latest EPF statement Confirmation letter from employer, or Latest EC/EA statement with e-filing or any verified receipts by LHDN

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

  • Offline application: You can apply for the BSN MyRinggit-i Eksekutif-1 Personal Loan at the nearest BSN Bank’s branch. You need to fill the application form with the required details and submit it along 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: Another way of applying for the BSN MyRinggit-i Eksekutif-1 Personal Loan is through online application. You can save your time and effort by filling the form available online and uploading scanned copies of the required documents.

FAQs

  1. Q. What is the minimum amount I can apply for through this facility?

    A. You can apply for a minimum of RM10,000 through BSN MyRinggit-i Eksekutif-1 Personal Loan.

  2. Q. My monthly salary is RM12,000. What is the maximum loan amount can I apply for?

    A. You can apply for a maximum of RM120,000 with this facility. To have a better understanding of loan amount under BSN MyRinggit-i Eksekutif-1 Personal Loan, please refer to the table below:

  3. Monthly Income Loan Limit
    RM3,000 to RM5,000 Can apply for up to 5 times the monthly income
    RM5,000 to RM10,000 Can apply for a maximum of 7 times the monthly income
    More than RM10,000 10 times the monthly income or RM200,000, whichever is lower
  4. Q. Can I get a 1-year repayment tenure with this facility?

    A. No. The minimum tenure is 2 years. However you can choose to settle the loan amount before the dedicated repayment period.

  5. Q. What kind of charges do I have to bear if settle the loan amount fully before the maturity date?

    A. You won’t be charged with any early settlement fee. Also, you can earn a rebate (Ibra) in such cases.

  6. Q. Is the takaful coverage mandatory with this loan facility? How much will it charge if I opt for it?

    A. No. It is optional to take the takaful coverage. However it is recommended to opt for the takaful coverage. The coverage however varies in accordance with age, tenure, and the financing amount.

  7. Q. Is it mandatory to opt for will and cash protection scheme?

    A. No. It’s optional to choose the will and cash protection service.

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