BSN MyRinggit SKAP (Super Klasik B) Personal Loan is a loan facility for Federal Government Servants by BSN Bank. This loan facility is designed to provide them with the financial freedom they desire with lower interest rates. The facility serves as a helping hand during times of emergencies, weddings, educational and many other purposes.
|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 permanent federal government servants|
|Stamp Duty||As per the Stamp Duty Act 1949 (Revised 1989)|
|Insurance||Based on loan amount, tenure and age of applicant|
|Cash Shield Insurance||RM318|
|Late Payment||1% of the total outstanding arrears|
|Age||21 years to 60 years (at 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||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)|
A. One can get an amount of RM5,000 to RM200,000 through this financing facility.
A. You can opt for repayment tenure of a minimum of 2 years to a maximum of 10 years with this facility.
A. It depends upon the type of employment of the applicant. The permanent employees applying for this loan don’t need to bring a guarantor but the employees working on contract basis need to be accompanied with a guarantor.
Q. In case I decide to settle the full loan amount before the maturity date, what is the procedure I need to follow?
A. You can decide to fully settle the whole amount at any time by providing the bank with a written notice for the same. In these cases, no lock-in period will be imposed.
Q. Is it mandatory for one to opt for will or the cash shield insurance?
A. No. It’s optional to opt for both however it is recommended to get the insurance on your loan.