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  • Personal Loan BYTES FROM OUR KITCHEN

    BSN Personal Loan for Private Sector

    Bank Simpanan Nasional (BSN) offers a special finance package, Eksekutif-1, that caters to private sector executives. Eksekutif-1 is offered under both fixed rate and floating rate of interest. The loan doesn’t require you to have a collateral and you will get immediate approval if you are meeting all the requirement criteria. 

    Personal Loan for Private Sectors from various banks in Malaysia

    Interest Rate for Eksekutif-1 (with flat rate) 

    Loan Type Loan Amount Loan Tenure Minimum Income Interest Rate
    Eksekutif-1 (with flat rate) Up to a maximum RM200,000 Up to 10 years RM3,000 per month for permanent staff and RM10,000 for contract staff From 6% p.a. to 8.50% p.a.

    Features  

     
    Interest Rate Starting at 6% p.a. (flat rate basis)
    Effective Interest Rate NA
    Minimum Loan Amount RM10,000
    Maximum Loan Amount Up to 10x of monthly gross income or RM200,000 (whichever is lower)
    Loan Tenure From 2 to 10 years
    Islamic/Conventional Conventional
    Debt Consolidation NA
    Takaful/Insurance Coverage Optional
    Approval Duration NA
    Government Servant? Private sector

    Eligibility  

    Nationality Malaysian citizen
    Age Requirement

    Minimum age: 21 years

    Maximum age: 55/60 years old at the end of the loan tenure

    Type of Employment Employees of Premier Developer Panel, Private Hospital, Telecommunication Company, Licensed Financial Institution, Multinational Company, PETRONAS Group of Companies, Selected Private University and College, Statutory Body, Government Link Company, Selected Public Listed Company in Main Market Bursa Malaysia (Financial, Plantation, Property, Technology, Trading / Service, Industrial Product, Consumer Sectors only) and Professionals (Doctor, Architect, Lawyer, Accountant and other certified Professionals)
    Income Requirement At least RM3,000 per month (for permanent staff) and RM10,000 per month (for contract staff)

    Interest Rate for Eksekutif-1 (with floating rate) 

    Loan Type Loan Amount Loan Tenure Minimum Income Interest Rate
    Eksekutif-1 (with floating rate) Up to a maximum RM200,000 Up to 10 years RM3,000 per month for permanent staff and RM10,000 for contract staff BR + 5.00% (monthly rest basis) Current BSN Base Rate (BR): 4.10% (with effect from 7th February 2018)
     

    Features  

    Interest Rate BR + 5.00% (monthly rest basis)
    Effective Interest Rate 9.10% p.a. (current BR= 4.10%)
    Minimum Loan Amount RM5,000
    Maximum Loan Amount Up to 10x of monthly gross income or RM200,000 (whichever is lower)
    Loan Tenure From 2 to 10 years
    Islamic/Conventional Conventional
    Debt Consolidation NA
    Takaful/Insurance Coverage Optional
    Approval Duration NA
    Government Servant? Private sector
     

    Eligibility  

    Nationality Malaysian citizen
    Age Requirement

    Minimum age: 21 years

    Maximum age: 55/60 years old at the end of the loan tenure

    Type of Employment

    Employees of Government Link Company (GLC), Government Link Agency (GLA), Public Listed Company, Multi-National Corporation, and any organisation/companies as listed by BSN

    Income Requirement At least RM3,000 per month (for permanent staff) and RM10,000 per month (for contract staff)
     

    Fees and Charges (for both the types)  

    Stamp Duty As per the Stamp Act of 1949 (revised in 1989)
    Processing Fee NA
    Disbursement and Miscellaneous Fee NA
    Goods and Services Tax (GST) 0%
    Early Settlement Fees NA
    Late Payment Charges Monthly Instalments in Arrears × 1% × Number of Days Overdue/365
    Fees and Charges of Top Banks in Malaysia

    What Documents do I Need to Prepare for this Loan Application?

    For Eksekutif-1 For Eksekutif-1 with Floating Rate
    A copy of NRIC (both sides) A copy of NRIC (front and back)
    Latest salary slips (for 3 months) Latest salary slips (for 3 months)
    Latest EPF statement Latest EPF statement
    Confirmation letter by an employer with following details:
    • Name and NRIC
    • Employment status and designation
    • Monthly salary
    • Date of employment, or
    Confirmation letter by an employer with following details:
    • Name
    • NRIC
    • Designation
    • Monthly salary
    • Date of employment, or
    Latest EA/EC Statement and latest e-filing form or any certified documents by the Inland Revenue Board (LHDN) Latest EA/EC Statement and latest e-filing form or any certified documents by the Inland Revenue Board (LHDN)

    How to Apply for BSN Personal Loan for Private Sector?

    If you want to take a BSN Personal Loan for Private Sector, visit http://www.mybsn.com.my/ and download the application form and fill it up and submit it to the nearest BSN Branch.

    To check how much you will be paying towards the monthly repayment, you can use the loan calculator and fill in the details of the loan amount and the tenure for which you want it and provide the interest rate.

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