• Personal Loan BYTES FROM OUR KITCHEN

    BSN MyRinggit-i SCOP (Super Klasik B) Personal Loan

    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.

    Interest Rates

    The profit rates at the funds under the BSN MyRinggit-i SCOP (Super Klasik B) Personal Loan are mentioned in the tables below:

    • Profit rates for applicants having a monthly salary ranging from RM2,500 to RM5,000:
    Loan Tenure Processing Fee Profit Rate
    Up to 10 years No processing fee 4.75% p.a.
    • Profit rates for applicants having a monthly salary of RM5,000 or more:
    Loan Tenure Processing Fee Profit Rate
    Up to 10 years No processing fee 4.50% p.a.

    Benefits & Features

    • The applicants can apply for a range of funds with a maximum amount of RM200,000 with this loan scheme.
    • The applicants don’t have to pay any advance payment in order to get this loan.
    • The loan scheme provides the individuals with funds at a profit rate as low as 4.50% p.a.
    • The repayments can be made through convenient modes of payment like Bahagian Akaun, KDN.
    • The loan scheme comes with a flexible line of tenures with a maximum limit of 10 years.
    • The process doesn’t require a collateral or guarantor.

    Fees and charges

    The fees and charges associated with BSN MyRinggit-i SCOP (Super Klasik B) Personal Loan are mentioned in the table below:

    Fee type Fee details
    Processing fee No charge.
    Late Payment charges (Before the maturity date) Late payment charges before the maturity date are calculated using the formula below: (Overdue instalment amount x 1% x number of days the instalment is overdue for)/365.
    Late Payment charges (After the maturity date) The late payment charges after the maturity date are calculated using the formula below: (Total principal amount due x IIMM% x No. of days the amount is overdue for)/365
    Early Termination Fee Early termination fee may be charged according to the bank’s discretion.
    Stamp Duty 0.5% of the total amount approved under the scheme as per the Stamp Duty Act 1949.
    Wakalah or Will Fee RM530 per written will.
    Contribution of Cash Protection-i Scheme (Optional) RM318.
    Takaful contribution coverage The takaful coverage contribution can vary with the age of the applicant, the tenure, and the loan amount opted for.

    Where IIMM = Islamic Interbank Money Market

    Eligibility Criteria

    The eligibility criteria for BSN MyRinggit-i SCOP (Super Klasik B) Personal Loan are given below:

    • Nationality criteria: The applicant must be a Malaysian citizen.
    • Age criteria:
      • Minimum age: The applicant must be at least 21 years old at the time of application.
      • Maximum age: The applicant must not be older than 60 years, or his/her retirement age at the completion of this loan scheme.
    • Income criteria: The applicants must have a fixed income of RM2,500 per month or more.
    • Employment criteria: The applicant must be a permanent employee of PDRM with a minimum of 3 months into the service.
    • The applicant must be an active BSN Giro/i account holder.

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

    The following is the list of documents one needs to present at the time of application:

    • Copies of both sides of NRIC, and
    • Copies of last 2 months’ salary slips, and
    • The confirmation letter from the employer
    • The authorisation letter of salary deduction (BSN 09-D).

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

    • Offline application: The BSN MyRinggit-i SCOP (Super Klasik B) Personal Loan application process can be carried out at the nearest BSN Bank’s branch. The applicants need to fill the application form and submit the supporting documents in order to get the loan approved. The applicants can also put in their request via the hotline numbers of bank.
    • Online Application: The BSN MyRinggit-i SCOP (Super Klasik B) Personal Loan approval can also be carried out online where the applicants need to fill the application form available on the bank website and upload the required documents.

    FAQs

    1. 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.

    2. 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.

    3. 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.

    4. 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.

    5. 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.

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