Cash woes? A personal loan to the rescue!

    BSN MyRinggit-i SCOP (Klasik) Personal Loan

    Based on the Shariah concept of Tawarruq, BSN MyRinggit-i SCOP (Klasik) Personal Loan offers personal loans to the employees of the Royal Malaysian Police Force (PDRM). The loan offers competitive profit rates offered on a flat rate basis.

    Features and benefits

    • The loan scheme exclusively caters to the members of the Royal Malaysian Police Force (PDRM) employees.
    • This is an unsecured personal loan facility and does not require any collateral.
    • A customer can make payments with convenient methods including via the Bahagian Akaun, KDN.
    • There is no advance payment required.
    • Minimum personal financing limit available through the personal loan scheme is RM5,000.
    • A personal loan of up to RM200,000 can be acquired by the customer through this scheme.
    • No guarantor is required to be present at the time of loan application.
    • The bank gives rebate if an early settlement of the personal financing is made.
    • The loan period ranges from a minimum of 2 years to a maximum of 10 years.
    • Customers are not imposed with any lock-in period when he/she gets the loan.

    Profit Rates

    The profit rates according to the income limit are described as below:

    For income less than RM5,000

    Loan Tenure Processing Fee Profit Rate
    2 to 10 years No processing fee is charged 4.75% p.a.

    For income more than RM5,000

    Loan Tenure Processing Fee Profit Rate
    2 to 10 years No processing fee is charged 4.50% p.a.

    Profit Rates for RBP (Risk Based Pricing)

    Loan Tenure Processing Fee Profit Rate
    2 to 5 years No processing fee is charged 4.60% p.a.
    6 to 10 years No processing fee is charged 5.30% p.a.

    Fees and Charges

    Fee Type Charges
    Processing fee No fee charged
    Late payment fee 1% p.a. of the pending instalment, which is calculated on daily basis
    Early termination fee As per the bank’s discretion
    Will fee RM530 (if any)
    Contribution of Cash Protection-i Scheme (optional) RM318
    Stamp duty According to the Stamp Duty Act 1949 (Revised 1989)

    Eligibility Criteria

    • Nationality criterion: Malaysian.
    • Age criteria:
      • Minimum age: 21 years
      • Maximum age: 60 years
    • Income criteria:
      • Citizens and permanent residents: Minimum RM800 per month.
    • The borrower should be a PDRM employee with a salary account under Bahagian Akaun, KDN.
    • The borrower should be a permanent employee who has been employed for at least 3 months.
    • Borrowers must be BSN GIRO/i Account Holder.

    What documents are required for this loan application?

    The list of documents mandatory to obtain the BSN MyRinggit-i SCOP (Klasik) Personal Loan is given below:

    • The copy of NRIC (National Registration Identity Card), (showing both front and back sides)
    • A validation letter from the employer mentioning the following about the applicant:
      • Name and NRIC number of the candidate
      • Status and designation
      • Monthly salary details of the applicant
      • Date of the employment
      • Date of retirement
    • Copies of latest 2 months’ salary slips of the applicant.
    • Authorisation Letter of Salary Deduction (BSN 09-D).

    How to apply for this?

    Offline Application: A customer can reach the nearest BSN branch to obtain the application form for BSN MyRinggit-i SCOP (Klasik) scheme of personal financing. After presenting the documents required, the bank representatives will carry the application process forward.

    Online Application: A customer can apply for a personal loan online by downloading the printable form available on the official website of the BSN. After filling in the details, he/she can submit the application at the designated department of the bank with the attached set of supporting documents.


    Q. How the bank will decide my late payment fee if I miss on my repayment instalments?

    A. The late payment charges are determined by the bank as per the following formula:

    Monthly Instalments in Arrears × 1% × Number of Days Overdue ? 365.

    A late payment fee of 1% p.a. of the outstanding instalments is charged to the customer which is calculated on the daily basis.

    Q. I am a Royal Malaysian Police Force employee for about 15 months, but I have been using a BSN GIRO account only for 3 months now. Am I eligible to apply for the personal loan under this scheme?

    A. As you have completed the employment tenure of 3 months, and you already possess a BSN GIRO account, as per the requirement criteria for a personal financing, you can apply for the loan.

    Q. What documents do I need to provide if I want to go for an early settlement of my payment dues?

    A. All you need to do is send a notice to the bank informing about the personal loan settlement. Additional documents are to be provided only if the bank requests for it.

    Q. I am not employed under the Royal Malaysian Police Force (PDRM) but I am a government employee for last 3 years. Can I apply for personal loan under this scheme?

    A. No, the BSN MyRinggit SCOP (Klasik) personal loan scheme is specifically for the members of the police force.

    Q. How is the rebate for the early settlement calculated?

    A. The bank grants Ibra’ i.e. rebate to the customer whenever he goes for an early settlement. It is calculated by the formula given below:

    Ibra’ (Rebate)= Deferred Profit – Early Settlement Charges (if any)

    This Page is BLOCKED as it is using Iframes.