• Personal Loan BYTES FROM OUR KITCHEN

    BSN MyRinggit SKAP (Super Klasik B) Personal Loan

    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.

    Interest Rates

    The following table contains the interest rates of the BSN MyRinggit SKAP (Super Klasik B) Personal Loan:

    Tenure Monthly salary of the applicant Interest Rates
    Up to 10 years From RM2,500 to RM5,000 4.75% p.a.
    Up to 10 years More than RM5,000 4.50% p.a.

    Benefits & Features

    • The applicants can apply for up to RM200,000 with this loan facility.
    • The repayment tenure available with this facility is extendable for up to 10 years.
    • The facility comes with an interest rate of as low as 4.50% p.a.
    • The facility may or may not need a guarantor depending upon the type of employment of the applicant.
    • The repayments can be made via easy modes like salary deduction.

    Fees and charges

    The fees and charges associated with BSN MyRinggit SKAP (Super Klasik B) Personal Loan are listed below:

    Fee type Fee details
    Monthly repayment To be calculated by BSN depending upon the tenure and the financing amount.
    Handling and disbursement fee No charge.
    Stamp Duty 0.5% of the total approved financing amount as per the Stamp Duty Act 1949.
    Cash Shield Insurance (Optional) Cash Shield Insurance depends upon the financing amount approved, age of the applicant, and the financing tenure opted for.
    Early settlement fee Early settlement fee can vary depending upon the amount to be recovered during early settlement.
    Will Fee RM530.
    Cash Shield Insurance (Optional) RM318.
    Advance Payment No advance payment.
    Late Payment charges Late payment charges are calculated using the following formula: (Monthly instalment amount x 1% x number of days overdue)/365.

    Eligibility Criteria

    The following are the eligibility criteria for BSN MyRinggit SKAP (Super Klasik B) Personal Loan:

    • Applicant’s eligibility
      • Malaysian citizen aging between 21 and 60 years and should not exceed his/her retirement age by the loan facility matures.
      • Permanent employee of Federal Government.
      • Account holder of BSN Giro/i.
      • Must have an income of RM30,000 p.a. or more.
      • Permanent employees must have at least 3 months of work experience.
      • The employees working on contract basis must have a minimum of 12 months of work experience.
    • Guarantor’s eligibility
      • Must be a Malaysian citizen aging between 21 to 58 years and should not exceed his/her retirement age by the maturity of the loan facility.
      • Must be an employee of Federal Government.
      • Must have a minimum income of RM30,000 p.a.
      • Must be employed for 6 months or more.
      • Account holder of BSN Giro/i.

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

    Documents required for the applicants:

    • A copy of both front and back page of NRIC, and
    • Copies of latest 2 months’ salary slips, and
    • The authorisation letter of salary deduction (BSN 09-D), and
    • The confirmation letter from the applicant’s employer

    Documents required for the guarantor:

    • A copy both sides of NRIC, and
    • Copies of last 2 months’ salary slips, and
    • Confirmation letter from the employer stating the name, NRIC No., designation, date of employment, and monthly salary, and
    • Authorisation letter of salary deduction (BSN 09-D)

    How to apply for BSN MyRinggit SKAP (Super Klasik B) Personal Loan?

    • Offline application: The applicants can apply for the BSN MyRinggit SKAP (Super Klasik B) Personal Loan at the nearest BSN Bank’s branch. The application form available at the branch needs to be filled with the required details and should be submitted along with the supporting documents of both the applicant as well as of the guarantor (if applicable). The applicants can also reach to BSN through the bank’s helpline number to put in their request for this loan.
    • Online Application: The applicants can also choose for a time saving method and apply for BSN MyRinggit SKAP (Super Klasik B) Personal Loan through the web portal of BSN. In order to get the loan approved, the applicants need to fill the application form available online and upload the supporting documents along with it.

    FAQs

    1. Q. What is the range of amount I can apply through this financing facility?

      A. One can get an amount of RM5,000 to RM200,000 through this financing facility.

    2. Q. What are the repayment periods available with this facility?

      A. You can opt for repayment tenure of a minimum of 2 years to a maximum of 10 years with this facility.

    3. Q. Do I need to bring a guarantor with me to get funds through this loan 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.

    4. 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.

    5. 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.

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