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.
|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|
|Approval Duration||Not specified|
|Stamp Duty||As per the Stamp Duty Act 1949 (Revised 1989)|
|Takaful||Based on loan tenure, amount, and age|
|Cash Protection-i (optional)||RM318|
|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|
|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)|
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|
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.
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.
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.
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.
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)