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.
|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.|
|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|
|Approval Duration||Not specified|
|Stamp Duty||As per Stamp Duty Act 1949 (Revised 1989)|
|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|
|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|
|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|
|Linked Bank Account||Yes (BSN Giro/i account)|
|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|
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.
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:
|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|
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.
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.
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.
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.