Cash woes? A personal loan to the rescue!

    BSN MyRinggit-i SKAP (Klasik) Personal Loan

    BSN MyRinggit-i SKAP (Klasik) Personal Loan is a loan scheme by BSN Bank that is tailor made to suit the financial needs of the Federal Government servants. The financing facility is based upon the Shariah concept of Tawarruq and provides the Federal Government servants with funds for better financial flexibility at a lower profit rate.

    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.
    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 (Federal government employees)


    • One can get funds of up to RM200,000 with BSN MyRinggit-i SKAP (Klasik) Personal Loan.
    • The facility comes with repayments periods of up to 10 years.
    • The profit rate associated with this loan facility is as low as 4.50% p.a.
    • The facility comes with easy repayment modes like salary deduction from the salary crediting account.
    • The personal loan scheme may or may not require the applicant to be accompanied with a guarantor at the time of application depending upon the type of employment of the individual.

    Fees and charges

    Stamp Duty As per the Stamp Duty Act 1949 (revised 1989)
    Processing Fee None
    Advance Payment None
    Will RM530
    Takaful Would differ based on age of loan applicant, loan tenure and loan amount
    Cash Protection-i Scheme RM318

    Penalty Charges

    Early Settlement None
    Late Payment Before the end of loan tenure: 1% of the total outstanding amount After the end of loan tenure: IIMM rate based on the total outstanding amount

    Eligibility Criteria

    Age 21 years to 60 years (at the end of the loan tenure)
    Employment For federal government employees Permanent employees: More than 3 months in service Temporary employees: More than 12 months in service
    Minimum Income RM1,500 each month
    Guarantor/Collateral Yes (only for temporary employees)
    Linked Bank Account BSN Giro-i account

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

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

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

    • Offline application: The application process can be carried out at the nearest BSN Bank’s branch by filling up the application form and submitting the supporting documents along with it. The request for the BSN MyRinggit-i SKAP (Klasik) Personal Loan can also be put in through hotline numbers of BSN.
    • Online Application: The applicants can also put the application online at BSN Bank’s official website. For BSN MyRinggit-i SKAP (Klasik) Personal Loan approval, applicants need to fill up the application form online and upload the supporting documents with it.


    1. Q. What is the range of funds I can get through this loan?

      A. With BSN MyRinggit-i SKAP (Klasik) Personal Loan, one can get loans from RM5,000 to RM200,000 depending upon the income of an individual.

    2. Q. Do I need to bring a guarantor to the application process?

      A. If you are a permanent employee of Federal Government with a minimum of 3 months in service, you don’t need a guarantor for the process. But if you’re working for the Federal Government on contract basis, you need to bring a guarantor for the application process.

    3. Q. Can I apply for a loan for an amount of RM8,000 with one year tenure?

      A. No. The minimum tenure available with this loan scheme is 2 years. However you can decide to fully settle the loan amount at any time during the period.

    4. Q. What is the procedure for settling the loan before its maturity?

      A. You need to inform the bank prior to settling the early settlement in form of a written notice.

    5. Q. Is there a benefit associated with early settlement of the loan?

      A. Yes. You can earn a rebate (Ibra) in such cases.

    6. Q. What is the benefit of takaful coverage? What if I choose to not take the coverage with my loan?

      A. The takaful coverage will cover any unpaid loan amount in the unfortunate case of against death or total permanent disability of the borrower during the loan tenure. So it’s highly recommended to opt for it, however it’s not mandatory to opt for the same.

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