Cash woes? A personal loan to the rescue!

    BSN MyRinggit-i SKAN (Klasik) Personal Loan

    BSN MyRinggit-i SKAN (Klasik) Personal Loan is a loan facility by BSN that is exclusively designed for the State Government Department employees. The personal loan facility provides the individuals with a range of funds at a competitive profit rate and help them achieve the financial freedom they need.

    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: 4.60% 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.
    Loan Tenure 2 years to 10 years
    Minimum Loan Amount RM5,000
    Maximum Loan Amount RM200,000
    Debt Consolidation No
    Islamic/Conventional Islamic
    Approval Duration Not specified by BSN
    Takaful Coverage Optional
    Government Servant? Yes (State government department employees)


    • The loan facility is based on Shariah concept of Tawarruq that consists of Wakalah and Bai Murabahah contracts.
    • One can apply for funds up to RM200,000 with this personal financing facility.
    • The facility comes with flexible repayment tenure range of up to 10 years.
    • The profit rates on the financing amount are as low as 4.50% p.a. with this loan facility.
    • Depending upon the type of employment of the applicant, the process may or may not an individual to bring a guarantor for the application.
    • The repayments for the loan facility can be made through simple modes of payment like salary deduction from the account where the salary is being credited.

    Fees and charges

    Stamp Duty As per the Stamp Duty Act 1949 (revised 1989)
    Will RM530
    Takaful Would be based on financing amount, tenure and age of the applicant
    Cash Protection-i Scheme RM318
    Processing Fee None
    Advance Payment Yes (amount equal to 2-month instalment payment)

    Penalty Charges

    Late Payment Before the maturity date: 1% of the total outstanding dues After the maturity date: IIMM rate based on the total outstanding dues
    Early Settlement None

    Eligibility Criteria

    Age 21 years to 60 years (retirement age at the end of loan tenure)
    Employment For state government department employees Permanent staff: In service for more than 3 months Temporary staff: In service for more than 12 months
    Minimum Income RM1,500 each month
    Linked Bank Account BSN Giro-i account
    Guarantor/Collateral Yes (Only for temporary staff)

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

    Salaried Applicants Photocopy of NRIC (both sides) Latest pay slip (1 month for floating profit rate and 2 months for fixed profit rate) Letter from employer confirming age, designation, retirement age, employment age, and salary Letter of authorisation of salary deduction (BSN 09-D)

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

    • Offline application: The BSN MyRinggit-i SKAN (Klasik) Personal Loan application process can also be carried out at the nearest BSN Bank’s branch. The applicants need to fill up the application form available at the bank’s branch with required details and submit it along with their as well as the guarantor’s supporting documents. Another method to apply for the BSN MyRinggit-i SKAN (Klasik) Personal Loan is by putting in the request telephonically through bank’s hotline numbers.
    • Online Application: One can apply for The BSN MyRinggit-i SKAN (Klasik) Personal Loan online at the official website of BSN Bank. The applicants need to upload the supporting documents and fill up the application form with necessary details. Applying online is the easier and faster way to complete the process.


    1. Q. What is the range of amount one can apply for through this loan?

      A. BSN MyRinggit-i SKAN (Klasik) Personal Loan allows you to apply for a minimum amount of RM5,000 and a maximum amount of RM200,000.

    2. Q. What are the repayment tenures available with this loan?

      A. You can opt for tenures ranging from 2 to 10 years with this loan facility.

    3. Q. Does the process require me to bring a guarantor?

      A. If the applicant is a permanent employee of State Government Department, he/she doesn’t need to bring a guarantor for the process. But the employees working on a contract basis need to be accompanied with a guarantor in order to get the request approved.

    4. Q. Is there an option where I can settle the loan amount before the dedicated period I chose for?

      A. Yes. You can opt to fully settle the loan amount any time before the approved tenure. You just need to provide the bank with a written notice before doing the same.

    5. Q. What are the major risks or benefits (if any) with settling the loan amount before the maturity period ends?

      A. The bank has a right to charge you in case of an early settlement. However, you are also eligible to get rebate (Ibra) in such cases.

    6. Q. What if I don’t take the takaful coverage with the loan? How much will I be charged if I opt for it?

      A. It’s not mandatory to opt for the takaful coverage. However, it is suggested to opt for it to get a security against death and total permanent disability.

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