Cash woes? A personal loan to the rescue!

    BSN MyRinggit SCOP (Klasik) Personal Loan

    The BSN MyRinggit SCOP (Klasik) is a type of personal financing offered by the Bank Simpanan Nasional (BSN) of Malaysia. It is an exclusively designed plan for the employees of the Royal Malaysian Police Force (PDRM). The personal financing scheme helps its customers to obtain the required sum of loan when they need to address their personal financial predicaments.

    Interest Rates

    Loan Amount Loan Tenure Minimum Annual Income Interest 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.


    Interest 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 Interest 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 Conventional
    Debt Consolidation No
    Insurance Coverage Optional
    Approval Duration Not specified
    Government Servant? Members of the Royal Malaysian Police Force (PDRM)


    • The personal loan scheme is specially designed for the members of the Royal Malaysian Police Force (PDRM).
    • This is an unsecured personal loan facility and offers interest rates calculated on a flat rate basis.
    • The loan offers convenient mode of payments such as via the Bahagian Akaun, KDN (Account Division).
    • No advance payment is required to be made by the borrower.
    • Minimum personal financing amount is RM5,000.
    • A customer can obtain a personal loan up to RM200,000 under the scheme.
    • There is no need of presenting a guarantor or any collateral while applying for the loan..
    • No lock-in period is imposed on a customer when he/she acquires the loan.
    • The customer can conveniently choose to make an early settlement of his finances at any time. Early settlement is not chargeable to the customer.
    • The loan period scales from minimum 2 years to a maximum of 10 years.

    Fees and Charges

    Stamp Duty As per Stamp Duty Act 1949 (Revised 1989)
    Processing Fee None
    Advance Payment None
    Will (if applicable) RM530
    Insurance As per age, loan amount and loan tenure
    Cash Shield Insurance RM318

    Penalty Charges

    Early Settlement None
    Late Payment 1% of the total outstanding dues

    Eligibility Criteria

    Age 21 years to 60 years (at time of loan maturity)
    Employment Employees of PDRM with salary account (Bahagian Akaun, KDN) Permanent employees: In service for more than 3 months Temporary employees: In service for more than 12 months
    Minimum Income RM1,500 each month
    Guarantor/Collateral Only for temporary staff
    Linked Bank Account BSN Giro account
    • He/she should be a citizen of Malaysia.
    • The applicant’s minimum age should be at least 21 years.
    • The maximum age of an applicant should not exceed 60 years at the time of the completion of the loan tenure.
    • He/she needs to be a PDRM employee and should possess a salary account under the Bahagian Akaun, KDN.
    • He/she should be a permanent employee who has completed at least 3 months of employment tenure.
    • The applicant should earn a minimum fixed income of RM800 per month.
    • The BSN MyRinggit SCOP (Klasik) personal loan applicant needs to be a BSN GIRO or BSN-i account holder.

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

    Salaried Applicants Copy of NRIC (front and back) Letter from employer confirming name, designation, employment date, retirement date, and monthly salary Latest salary slip (2 months for temporary staff, and 1 month for permanent staff) Salary deduction authorisation letter (BSN 09-D)

    How to Apply for this loan?

    • Offline Application: An applicant can go to the nearest BSN branch in Malaysia to obtain the application form for BSN MyRinggit SCOP (Klasik) scheme of personal financing. After presenting the required documents, he/she can complete the application procedure with the help of bank representatives available at the branch.
    • Online Application: A customer can download a printable form available on the official website of the BSN and fill it with all required details. He/she can then submit the application at the designated department with the required supporting documents attached to it.


    1. Q. What documents do I need to provide if I want to go for an early settlement of my payment dues?

      A. You can go for early settlement of your financed amount by sending a prior notice to the bank informing about the same. The service is not chargeable, thus you can choose to settle your loan at any point during your tenure.

    2. Q. How the bank will decide my late payment fee if I miss on my repayment instalments?

      A. A late payment fee of 1% p.a. of the pending instalments is charged to a customer which is calculated on the daily basis.

      The late payment charges are calculated by the bank as per the following formula:

      Monthly Instalments in Arrears × 1% × Number of Days Overdue ? 365.

    3. Q. I am a Royal Malaysian Police Force employee for about 2 months and I have the salary slip of only one month. Am I eligible to apply for the personal loan under this scheme?

      A. As per the bank’s regulations, you need to present the latest salary slips for at least 2 months to obtain the loan. When you complete the employment tenure of 3 months, you can produce your salary details to the bank and then you will be qualified to acquire the personal loan.

    4. Q. Why are documents pertaining to my retirement date needed to apply for the personal loan?

      A. The BSN MyRinggit SCOP (Klasik) personal financing scheme requires the customer to be under 60 years old at the time of the maturity of his financing period. To determine the valid age of the applicant, it is requested to produce the necessary documents from your employer.

    5. 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.

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