BSN MyRinggit SKAN (Super Klasik B) is a personal loan scheme that is designed exclusively for State Government Department employees who have minimum monthly income of RM2,500. This personal financing program offers extra funds to borrowers at a lower interest rate in comparison to other schemes.
|Loan Amount||Loan Tenure||Minimum Annual Income||Interest Rate|
|RM5,000 to RM200,000||2 years to 10 years||RM30,000||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|
|Approval Duration||Not specified|
|Government Servant?||For state government department employees|
|Stamp Duty||As per the Stamp Duty Act 1949 (Revised 1989)|
|Advance Payment||Equal to two months instalment amount|
|Insurance||Based on loan amount, tenure and age of applicant|
|Cash Shield Insurance||RM318|
|Late Payment||1% of the total outstanding amount|
|Age||21 years to 60 years (during the end of loan tenure)|
|Employment||State government department employees (salary account under state treasury or finance department) Permanent staff: More than 3 months in service Temporary staff: More than 12 months in service|
|Minimum Income||RM2,500 each month|
|Guarantor/Collateral||Only for temporary staff in service for more than 12 months|
|Linked Bank Account||Yes (BSN Giro account)|
|Salaried Applicants||Copy of NRIC (front and back) Latest salary slip (2 months for fixed interest rate and 1 month for floating interest rate) Letter from employer confirming full details of employment including age, position, pay, employment date, and retirement date Salary deduction authorisation letter (BSN 09-D)|
Q. Do I need a guarantor or collateral to apply for the BSN MyRinggit SKAN (Super Klasik B) if I am a permanent employee for 6 months with a state government department?
A. As a permanent employee with a government firm, you do not need a guarantor or collateral.
Q. My contact details and apparently my address will be changed in a month’s time. Where should I update the new address?
A. You can inform your bank by writing an official email or contact to the nearest branch and enquire about the updating procedure.
Q. What is the amount of stamp duty that I need to pay to process the BSN MyRinggit SKAN (Super Klasik B)?
A. The stamp duty that a customer needs to pay while applying for the loan is determined by the bank according to the Stamp Duty Act of 1949 which was revised in 1989. You will be informed about the amount by the executives while processing your application.
Q. Do I need to have an insurance coverage to acquire the personal financing?
A. Insurance coverage is an optional condition to obtain the personal loan. However, it is encouraged by the bank to have one. If a customer decides to obtain an insurance from the bank, the fees for that will be based upon your loan amount and tenure. The Cash Shield Insurance is also optional and upon purchasing it, a customer will have to pay the fee of RM318.
Q. What are the actions taken if I fail to pay the instalments of my personal loan?
A. The bank will intimate you about the arrears through legal notices. Furthermore, the bank can set-off the dues by transferring any credit balance from your account maintained with the bank. If you still are not able to pay the dues, you may have to face a legal action.