Cash woes? A personal loan to the rescue!

    BSN MyRinggit SKAP (Klasik) Personal Loan

    MyRinggit SKAP (Klasik) Personal Loan is one of the personal loans offered by BSN which has been designed specifically for Federal Government Servants. The bank does not require you to have a high income in order to get a hassle-free loan approval.

    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? For federal government servants


    • The bank offers a loan repayment tenure of 2 to 10 years.
    • The minimum loan amount provided by the bank is RM5,000.
    • The interest rate starts at 4.50% p.a.
    • You do not have to provide a collateral to get the loan approved.

    Fees and Charges

    Stamp Duty As per the Stamp Duty Act 1949 (Revised 1989)
    Processing Fee None
    Advance Payment None
    Will RM530
    Insurance Based on loan amount, tenure and age of applicant
    Cash Shield Insurance RM318

    Penalty Charges

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

    Eligibility Criteria

    Age 21 years to 60 years (at the time of loan maturity date)
    Employment Permanent federal government employees Permanent staff: More than 3 months in service Temporary staff: More than 12 months in service
    Minimum Income RM1,500 each month
    Guarantor/Collateral Only for temporary staff in service for more than 12 months
    Linked Bank Account Yes (BSN GIRO account)

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

    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)

    Repayment Table

    Let us consider a loan amount of RM10,000 at an interest rate of 4.6% p.a. Say, the loan repayment tenure is 1 year. Then, the total sum you will be paying to the bank is RM10,460.04 and the monthly instalment is RM871.67. The repayment table for this loan is given below:

    Month Principal Deduction Interest Paid Remaining Balance
    1 RM833.33 38.34 9128.33
    2 RM1,666.67 76.68 8256.65
    3 RM2,500.01 115.02 7384.97
    4 RM3,333.35 153.36 6513.29
    5 RM4,166.69 191.7 5641.61
    6 RM5,000.03 230.04 4769.93
    7 RM5,833.37 268.38 3898.25
    8 RM6,666.71 306.72 3026.57
    9 RM7,500.05 345.06 2154.89
    10 RM8,333.39 383.4 1283.21
    11 RM9,166.73 421.74 411.53
    12 RM10,000.07 460.08 0.00

    How to Apply for BSN MyRinggit SKAP (Klasik) Personal Loan?

    BSN provides the loan application form on its website. You can download the form, fill it and submit the application form along with the required documents at the nearest branch office.

    Alternately, you can also visit the nearest branch along with the supporting documents, get the application form from the bank staff, fill it and submit your personal loan application.


    1. Q. Does the loan include a lock-in period?

      A. No. The loan does not include a lock-in period.

    2. Q. What is the maximum loan amount offered by the bank?

      A. The maximum loan amount offered by the bank is RM200,000.

    3. Q. Should I pay an Early Settlement Fee if I clear the loan before the tenure?

      A. No. You can clear the loan before the scheduled tenure without paying any fee for early settlement.

    4. Q. How much late penalty charges are levied if I fail to pay the instalment by the due date?

      A. You have to pay a late payment fee of 1% p.a. on the overdue amount that is calculated on a daily basis.

    5. Q. What is the interest rate offered on BSN GIRO Account?

      A. The interest rate applicable to BSN GIRO Account is 0.25% p.a.

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