BSN MyRinggit-i SCOP (Super Klasik B) Personal Loan is a loan scheme dedicated to the employees of Royal Malaysian Police Force (PDRM). The loan facility offers them a range of funds at lower profit rates. This financing facility is designed in such a way that the individuals can achieve the financial freedom they need.
|Loan Amount||Loan Tenure||Minimum Annual Income||Profit Rate|
|RM5,000 to RM200,000||2 years to 10 years||RM30,000 and above||Fixed Rate: 4.60% p.a. to 4.75% p.a. Floating Rate: BR + 3.22% p.a. to BR + 3.77% p.a.|
|Profit Rate||Fixed Rate: 4.60% p.a. to 4.75% p.a. Floating Rate: BR + 3.22% p.a. to BR + 3.77% p.a.|
|Effective Profit 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|
|Government Servant?||Employees of the Royal Malaysian Police Force (PDRM)|
|Stamp Duty||As per the Stamp Duty Act 1949 (Revised 1989)|
|Will (if applicable)||RM530|
|Takaful||Based on age of applicant, loan tenure, and loan amount.|
|Cash Protection-i (optional)||RM318|
|Early Settlement||Not specified|
|Late Payment||1% of the overdue amount before the end of loan tenure Equivalent to IIMM rate on the overdue amount after the end of loan tenure|
|Age||21 years to 60 years (at the end of loan tenure)|
|Employment||PDRM employees (salary account with Bahagian Akaun, KDN) Permanent employees (working for more than 3 months)|
|Minimum Income||RM2,500 and above every month|
|Guarantor/Collateral||For temporary employees (must be in service for more than 12 months)|
|Linked Bank Account||Yes (BSN Giro/i account)|
|Salaried Applicants||Photocopy of NRIC (both sides) Latest salary slip (2 months for fixed rate and 1 month for floating rate) Authorisation letter confirming salary deduction Letter from employer confirming name, position, salary, and dates of employment, and retirement|
Q. What are the funds available with this loan scheme?
A. You can get funds from RM5,000 to a maximum of RM200,000 with BSN MyRinggit-i SCOP (Super Klasik B) Personal Loan.
Q. Can I get a loan with 5 years of repayment period?
A. Yes. You can opt for tenures ranging from 2 to 10 years.
Q. Is there an option of settling the loan entirely before the tenure ends?
A. Yes. There is an option to settle the loan entirely earlier than its maturity date. You just need to provide the bank with written notice in that case.
Q. What are the risks or benefits (if any) associated with early settlement of the loan amount?
A. In such cases, the bank has a right to charge you with an early settlement fee. However, you are also eligible to earn a rebate when you decide to settle the loan amount prior to its maturity.
Q. What is the use of takaful coverage? Should I get the same with my loan?
A. Although it’s not mandatory to opt for the takaful coverage, it’s highly recommended as it covers the loan in the unfortunate event of total permanent disability or the sudden demise of the borrower during the tenure of the loan.