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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.
The bank offers the loan at floating rate, fixed rate as well as at Risk Base Pricing (RBP).
|Credit Score||Interest Rate (% p.a.)||Effective Interest Rate|
|1||Base Rate + 3.22% p.a.||7.32% p.a.|
|2&3||Base Rate + 3.39% p.a.||7.49% p.a.|
|4||Base Rate + 3.77% p.a.||7.89% p.a.|
Note: Currently, Base Rate is 4.10% p.a.
|Monthly Income||Interest Rate (% p.a.)|
|RM5,000 and above||4.50% p.a.|
Fixed Rate (RBP)
|Loan Period||Interest Rate (% p.a.)|
|1-5 years||4.60% p.a.|
|6-10 years||5.30% p.a.|
The benefits and features of the loan are:
The bank requires the loan applicant to have the following eligibilities:
If you have to provide a guarantor, he/she must fulfil the below set of eligibility criterion:
Both the loan applicant and the guarantor must submit the documents mentioned below:.
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|
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.
Q. Does the loan include a lock-in period?
A. No. The loan does not include a lock-in period.
Q. What is the maximum loan amount offered by the bank?
A. The maximum loan amount offered by the bank is RM200,000.
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.
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.
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.