BSN Personal Loans

Bank Simpanan Nasional (BSN) is a government-owned Malaysian bank, established in 1974. The bank offers a wide range of financial products and services including personal loans, savings accounts, insurance, as well as investment opportunities. BSN personal loans provide sustainable and flexible options that target the needs of clients. In this article, we look at the loan products available from BSN.

BSN Personal Loans

Below is the wide range of BSN personal loans available to customers.

1. BSN MyRinggit-i (Solar Panel)

Features:

• Profit Rate: SBR + 2.62% to SBR + 3.12%
• Profit Rate without Takaful: Additional 0.50% from the above profit rate
• Financing Limit: Up to RM150,000
• Financing Tenure: Minimum of 1 year, maximum of 10 years

Eligibility:

• Malaysian citizen aged 18 years old to 65 years old
• The purchase and installation of Solar PV System must be from a Solar PV Panel Provider appointed by BSN only.
• For residential properties (other than residentials with strata title status)

Documents Required:

• Copy of NRIC (both sides)
• Confirmation letter from employer
• Latest salary slip

2. BSN MyRinggit-i (Perintis)

Features:

• Financing Limit: Minimum of RM5,000, maximum of RM50,000 or 20 times of monthly income, whichever is lower
• Financing Tenure: Minimum of 1 year, maximum of 10 years
• Rates: SBR + 2.87%
• Mode of payment is via Accountant General (AG) Salary Deduction.
• No guarantor is required.

Eligibility:

• Malaysian citizen
• Aged 18 years old and above (not exceeding the retirement age or 60 years old at the end of financing tenure, whichever is earlier)
• Minimum period of employment: Not Applicable

Documents Required:

• A copy of NRIC (both sides)
• A copy of placement/ employment letter/ HRMIS
• Salary Deduction Form: BSN 09-D (0916)_B; and/ or
• Any other supporting documents as may deemed required by the approving authority

3. BSN MyRinggit-i (Financial Institution Employee)

Features:

• Mode of payment is via BSN Standing Instruction.
• No guarantor is required
• Financing Limit: Minimum of RM5,000, maximum of RM250,000
• Financing Tenure: Minimum of 2 years, maximum of 10 years
• Rates: SBR + 2.77%

Eligibility:

• Malaysian citizen
• Aged 18 years old and above (not exceeding the retirement age or 60 years old at the end of financing tenure, whichever is earlier)
• Employee of licensed *Financial Institution (FI) as approved by Bank Negara Malaysia (BNM)
• Minimum service of 2 consecutive years in banking industry
• BSN GIRO/i account holder
• Minimum income per month:
• Permanent Staff:
  1. RM3,000 (Executive – Other than administrative, Bank Tellers & Related Clerks)
  2. RM5,000 (Non-Executive – Administrative, Bank Tellers & Related Clerks)
• Contract staff: RM10,000 (basic salary + fixed allowance)

Documents Required:

• A copy of NRIC (both sides)
• Latest 2 months’ salary slip
• Employer Confirmation Letter
• Latest EPF statement

4. BSN MyRinggit-i Professional

Features:

• Mode of payment is via BSN Standing Instruction or Salary Deduction.
• No guarantor needed.
• Financing Limit: Minimum of RM10,000, maximum of RM400,000

Rates:

• BSN Standing Instruction: 1-3 years – SBR + 2.85%, 4-10 years – SBR + 3.30%
• Salary Deduction: 1-3 years – SBR + 2.65%, 4-10 years – SBR + 2.85%

Eligibility:

• Malaysian citizen
• Age of 18 years old and not exceeding the retirement age or 65 years old at the end of financing tenure, whichever is earlier
• Fixed income earner with minimum gross income of RM3,000/month
• Minimum tenure in service:
  • Permanent Staff : 3 months
  • Contract Staff : 6 months
• For Sole Proprietorship / Partnership, business has been operated for at least 2 years
• Eligible for the following professionals:
  • Medical Doctor
  • Dentist
  • Accountant & Auditor
  • Lecturers
  • Architects
  • Engineers
  • Pharmacists
  • Quantity Surveyors
  • Veterinary
  • Optician/ Optometrist
  • Actuary
  • Geologist
  • C-Level

Documents Required:

Payment via BSN Standing Instruction:

• Salary Earner

1. Copy of NRIC
2. Latest 2 months’ salary slip
3. Employer confirmation letter
4. Valid certification/ registration with the respective Certification Authority/ Membership Registration Institution
5. At least one (1) of these:
   • Latest income statement (EA/ EC or e-B/ e-BT form); or
   • Latest 3 months Bank Statement of salary crediting account; or
   • Any other latest supporting document such as EPF statement

• Sole Proprietorship/ Partnership

1. Copy of NRIC
2. Business Registration
3. Applicant’s latest 6 months bank statement
4. Latest annual income statement (EA/ EC or e-B/ e-BT form) with payment receipt
5. Latest 2 years financial statement
6. Valid certification/ registration with the respective Certification Authority/ Membership Registration Institution

Payment via Salary Deduction (for Salary Earner only):

1. Copy of NRIC
2. Latest 2 months’ salary slip
3. Employer confirmation letter
4. Salary Deduction Form
5. Valid certification/ registration with the respective Certification Authority/ Membership Registration Institution

5. BSN MyRinggit-i (Public Sector)

Features:

• Profit Rate: 4.60% to 5.30% (fixed rate), SBR + 2.60% to SBR + 4.62% (floating rate)
• Profit Rate without Takaful: Additional 1% from the above profit rate
• Financing Limit: Minimum of RM5,000, maximum of RM400,000
• Financing Tenure: Up 10 years

Eligibility:

• Malaysian citizen aged 18 years old to 60 years old (subject to retirement age at the end of financing tenure)
• Works in government sector / GLA / GLC / organizations which has the facility of salary deduction through BPA
• Minimum income of RM1,500 per month
• Permanent employee who has been employed for 3 months and above
• Contract / temporary employee (over 12 months’ service)
• BSN GIRO/i account holder

Documents Required:

• A copy of NRIC (both sides)
• Confirmation letter from employer
• Latest 2 months’ salary slip

6. BSN MyRinggit-i (Post Graduate)

Features:

• Profit Rate: SBR + 2.70%
• Profit Rate without Takaful: Additional 1% from the above profit rate
• Financing Limit: Minimum of RM5,000, maximum of RM50,000
• Financing Tenure: Minimum of 1 year, maximum of 10 years

Eligibility:

• Postgraduate students who are currently working as a full-time federal government employees.
• Malaysian citizen aged 18 years old to 60 years old (subject to retirement age at the end of financing tenure)
• Works in government sector / GLA / GLC / organizations which has the facility of salary deduction through BPA
• Minimum income of RM1,500 per month
• Permanent employee who has been employed for 3 months and above
• Contract / temporary employee (over 12 months’ service)
• BSN GIRO/i account holder
• Participating University:
  • Universiti Pendidikan Sultan Idris (UPSI)

Documents Required:

• A copy of NRIC (both sides)
• Confirmation letter from employer
• Latest 2 months’ salary slip

7. BSN MyRinggit-i (Hajj, Umrah and Pilgrimage)

Features:

• Profit Rate: SBR + 2.65% to SBR + 5.85%
• Profit Rate without Takaful: Additional 1% from the above profit rate
• Financing Limit: Minimum of RM10,000, maximum of RM400,000
• Financing Tenure: Minimum of 1 year, maximum of 10 years

Eligibility:

• Malaysian citizen aged 18 years old to 65 years old
• Works in government or public sector
• Minimum income of RM1,500 per month
• Permanent or contract / temporary employee
• Participating travel agencies:
• Felda Travel Sdn. Bhd.
• Andalusia Travel & Tour Sdn. Bhd.
• Fa Izin International Travel Sdn. Bhd.
• Maqbul Travel Sdn. Bhd.
• Mahabbaten Travel Sdn. Bhd.
• Labbaik Travel Sdn. Bhd

Documents Required:

• Copy of NRIC (both sides)
• Confirmation letter from employer
• Latest salary slip

8. BSN MyRinggit-i (Eksekutif-1)

Features:

• Profit Rate: 6.00% to 8.50% (fixed rate), SBR + 5.85% (floating rate)
• Profit Rate without Takaful: Additional 1% from the above profit rate
• Financing Limit: For income of RM3,000 to RM5,000 – 5x of monthly gross income; > RM5,000 to RM10,000 – 7x of monthly gross income; > RM10,000 – 10x of monthly gross income / maximum RM200,000 (whichever is lower).
• Financing Tenure: Minimum of 2 years, maximum of 10 years
• Method of Payment: BSN standing instruction

Eligibility:

• Malaysian citizen aged 18 years old to 55 / 60* years old (subject to retirement age at the end of the financing tenure)
• Open to permanent & contract officers and staff that have minimum one year of working experience
• Minimum gross income of RM3,000 per month (permanent staff) & RM10,000 (contract staff)
• BSN GIRO/i Account holders
• Offered only to employees of Premier Developer Panel, Private Hospital, Telecommunication Company, Licensed Financial Institution, Multinational Company, PETRONAS Group of Companies, Selected Private University & 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).

Documents Required:

• A copy of NRIC (both sides)
• A copy of the latest 3 months’ salary slips
• Latest EPF statement
• Employer’s Confirmation Letter stating the below:
  • Name
  • NRIC
  • Designation/ Position
  • Monthly Salary
  • Date of Employment

OR

Latest EA/ EC Statement for at least one year and latest e-filing form or any verified documents by the Inland Revenue Board (IRB).

The bank has many branches and digital banking options, making it easy and quick for customers to use their services. BSN personal loans are accessible through various platforms including the bank’s website or any of its branches.