Cash woes? A personal loan to the rescue!

    BSN MyRinggit-i SCOP (Klasik) Personal Loan

    Based on the Shariah concept of Tawarruq, BSN MyRinggit-i SCOP (Klasik) Personal Loan offers personal loans to the employees of the Royal Malaysian Police Force (PDRM). The loan offers competitive profit rates offered on a flat rate basis.

    Profit Rates

    Loan Amount Loan Tenure Minimum Annual Income Profit Rate
    RM5,000 to RM200,000 2 years to 10 years RM18,000 Fixed Rate: 4.50% p.a. to 5.30% p.a. Floating Rate: BR + 3.22% p.a. to BR + 3.77% p.a.


    Profit Rate Fixed Rate: 4.50% p.a. to 5.30% p.a. Floating Rate: BR + 3.22% p.a. to BR + 3.77% p.a.
    Effective Profit Rate Floating Rate: 7.32% p.a. to 7.87% p.a.
    Minimum Loan Amount RM5,000
    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


    • The loan scheme exclusively caters to the members of the Royal Malaysian Police Force (PDRM) employees.
    • This is an unsecured personal loan facility and does not require any collateral.
    • A customer can make payments with convenient methods including via the Bahagian Akaun, KDN.
    • There is no advance payment required.
    • Minimum personal financing limit available through the personal loan scheme is RM5,000.
    • A personal loan of up to RM200,000 can be acquired by the customer through this scheme.
    • No guarantor is required to be present at the time of loan application.
    • The bank gives rebate if an early settlement of the personal financing is made.
    • The loan period ranges from a minimum of 2 years to a maximum of 10 years.
    • Customers are not imposed with any lock-in period when he/she gets the loan.

    Fees and Charges

    Stamp Duty As per the Stamp Duty Act 1949 (Revised 1989)
    Processing Fee None
    Wakalah Fee RM30
    Will RM530
    Takaful Based on loan tenure, amount, and age
    Cash Protection-i (optional) RM318

    Penalty Charges

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

    Eligibility Criteria

    Age 21 years to 60 years (at end of loan tenure)
    Employment Members of Royal Malaysian Police Force (PDRM) Permanent employees with more than 3 months service Salary account under Bahagian Akaun, KDN
    Minimum Income RM1,500 every month
    Guarantor/Collateral Guarantor for temporary staff
    Linked Bank Account Yes (BSN Giro/i account)

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

    The list of documents mandatory to obtain the BSN MyRinggit-i SCOP (Klasik) Personal Loan is given below:

    Salaried Applicants Copy of NRIC (front and back) Confirmation letter from the employer Latest salary slips (1-2 months) Salary deduction authorisation letter

    How to apply for BSN MyRinggit-i SCOP (Klasik) Personal Loan?

    • Offline Application: A customer can reach the nearest BSN branch to obtain the application form for BSN MyRinggit-i SCOP (Klasik) scheme of personal financing. After presenting the documents required, the bank representatives will carry the application process forward.
    • Online Application: A customer can apply for a personal loan online by downloading the printable form available on the official website of the BSN. After filling in the details, he/she can submit the application at the designated department of the bank with the attached set of supporting documents.


    1. Q. How the bank will decide my late payment fee if I miss on my repayment instalments?

      A. The late payment charges are determined by the bank as per the following formula:

      Monthly Instalments in Arrears × 1% × Number of Days Overdue ? 365.

      A late payment fee of 1% p.a. of the outstanding instalments is charged to the customer which is calculated on the daily basis.

    2. Q. I am a Royal Malaysian Police Force employee for about 15 months, but I have been using a BSN GIRO account only for 3 months now. Am I eligible to apply for the personal loan under this scheme?

      A. As you have completed the employment tenure of 3 months, and you already possess a BSN GIRO account, as per the requirement criteria for a personal financing, you can apply for the loan.

    3. Q. What documents do I need to provide if I want to go for an early settlement of my payment dues?

      A. All you need to do is send a notice to the bank informing about the personal loan settlement. Additional documents are to be provided only if the bank requests for it.

    4. Q. I am not employed under the Royal Malaysian Police Force (PDRM) but I am a government employee for last 3 years. Can I apply for personal loan under this scheme?

      A. No, the BSN MyRinggit SCOP (Klasik) personal loan scheme is specifically for the members of the police force.

    5. Q. How is the rebate for the early settlement calculated?

      A. The bank grants Ibra’ i.e. rebate to the customer whenever he goes for an early settlement. It is calculated by the formula given below:

      Ibra’ (Rebate)= Deferred Profit – Early Settlement Charges (if any)

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