BSN MyRinggit-i PRIMA Personal Financing

BSN MyRinggit-i PROFESSIONALi is a personal loan for all types of Malaysian medical practitioners, dentists and accountants (recognised by the Malaysian Institute of Accountants that are looking for a financing amount of up to RM 400,000. It also has a relatively low instalment (as low as 6.50%) and decent financing with a medium gross income requirement of RM3,000 per month.

Best for: Personal use including your kid’s education fund or own further studies

Income requirements: Minimum RM 3,000/month.

Pros:

• Maximum financing amount of RM 400,000
• Low income requirement (RM3,000/month)
• Wide age range eligibility (21 – 65 years old)
• No guarantor required
• No stamp duty, no processing fee and no early settlement fee

• How to apply for a BSN MyRinggit-i PRIMA Personal Financing?

  You can apply for a BSN MyRinggit-i PRIMA Personal Financing here.

• What is the maximum financing amount?

  You can borrow up to RM 250,000.

• What is the maximum financing tenure?

  7 years.

• What is the interest rate?

  The interest rate is yearly (per annum) and will depend on your financing amount, tenure, as well as your individual risk rating. The fixed rate is as low as 6.50%.

  Check your iMoney CreditScore for free to find out how your credit health is.

• What are the requirements when applying for a BSN MyRinggit-i PRIMA Personal Financing?

  BSN MyRinggit-i PRIMA Personal Financing is open for government servants or GLC employees between the ages of 21 and 65 years old, who earn RM3,000 and more per month. You are also required to open a linked bank account for this personal financing option.

• What are the eligibility requirements?

  • Malaysian citizen or Malaysian PR Status
  • Medical Practitioners (Medical Doctor & Dentist) & Accountant (recognized by Malaysian Institute of Accountants (MIA))
  • Age: 21 – 65 years old
  • Minimum gross income of RM3,000
  • Maximum loan of RM 400,000

• What are the required documents?

  Once you have completed your application with iMoney, you are required to provide the following documents for your application:

  • Front & back copy of NRIC
  • 2 months’ payslip
  • Letter of Employment
  • Certificate of registration with Malaysian Medical Council (MMC)/Malaysian Dental Council (MDC) OR extraction of Practitioner Information from MMC/MDC website
  • Any document to prove Accountants are recognised by Malaysia Institute of Accountants (MIA)
  • Latest income statement (EA/EC or e-B/e-BT form), OR
  • Latest 3 months’ bank statements of salary crediting account, OR
  • EPF statements

  If sole proprietor or partnership:

  • Front & back copy of NRIC
  • Business registration certificate
  • Latest 6 months’ bank statement
  • Latest annual income statement (EA/EC or e-B/e-BT form) with payment receipt
  • Latest 1 year’s financial statements
  • Certificate of registration with Malaysian Medical Council (MMC)/Malaysian Dental Council (MDC) OR extraction of Practitioner Information from MMC/MDC website
  • Any document to prove Accountants are recognised by Malaysia Institute of Accountants (MIA)

• How much do I have to pay monthly?

  The amount you have to pay depends on your financing amount, tenure, and profit rate of the financing.

• How does the BSN MyRinggit-i PRIMA Personal Financing calculator work?

  You can calculate your monthly repayments using the BSN MyRinggit-i PRIMA personal financing calculator right here. All you have to do is key in the financing amount and the tenure duration you'd like.

• What are the fees and charges?

  Late payment charge: 1% per year on the outstanding payment

  For example, the fee is calculated as follow:
  Late payment charge = Outstanding monthly instalment X 1% X number of days outstanding/365 days

  * The charges will not be compounded

  Note: There are no upfront charges or additional fees when you apply through iMoney. We will also not request any deposit payment from you.

• How do I make my repayment?

  Repayments can be made through a standing order/instruction or auto/direct debit.

• Can I perform early settlement with the BSN MyRinggit-i PRIMA Personal Financing?

  Yes, you can. BSN will not impose any additional charges if you choose the early settlement option.

• How long is the approval process?

  BSN will approve an application within 3 days, provided that full documentation and information are submitted.

  To speed up the process, you can apply through iMoney where our Call Centre Consultants will walk you through the eligibility checker, application form, and advise you on the required document submission.

  After we submit your documents and information, BSN can approve and disburse to you within 3 days.

• Is it required to have Takaful contribution coverage?

  Takaful contribution coverage is optional for this Islamic personal financing. Should you want to have extra peace of mind, you can include the Cash Protection-i Scheme for a one-time charge of RM318.

• Can I apply if I have a bad CCRIS/CTOS/credit score?

  Unfortunately, BSN will check your credit history as part of their approval process. You are required to settle all overdue payments before applying and keep a healthy credit record before you apply for any personal financing or loan. We also highly recommend that you continue repaying your loans on time for another three months before reapplying.

  Check your iMoney CreditScore for free to find out how your credit health is.

• If you are looking for other personal loans, you may also consider

  Bank Rakyat Personal Financing-i (Private Sector)

  Bank Rakyat Personal Financing-i Private Sector is a guarantor-free personal loan that offers a financing amount of up to RM 150,000. It also has a relatively low instalment and decent financing with a relatively low gross income requirement of RM2,000 per month.

  Bank Rakyat Personal Financing-i (Public Sector)

  Bank Rakyat Personal Financing-i Public Sector is a personal loan for Malaysian citizens that are in the public sector, GLC companies and GLC subsidiaries. This personal loan offers a financing amount of up to RM 200,000. It also has a relatively low instalment and decent financing with a relatively low gross income requirement of RM1,000 per month.