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BSN MyRinggit-i EKSEKUTIF-1 Personal Financing
An unsecured personal financing up to 10 years designed to help executives meet their cash needs
- Interest Rate (p.a.)
6.00% - 8.50%
- Loan Tenure
2 - 10 years
- Approval Duration
Up to 5 business days
- Min. monthly income
RM3,000
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What's so great about BSN MyRinggit-i EKSEKUTIF-1 Personal Financing?
- Approved loan amount of up to RM200,000
- Fixed interest rate as low as 6.00% annually
- Based on the Shariah concept of Tawarruq which comprises of Bai Murabahah and Wakalah contracts
Product Features
| Min. financing amount | RM10,000 |
| Max.financing amount | 10x of monthly gross income or maximum RM200,000.00 whichever is lower. |
| Min. loan tenure | 2 years |
| Max. loan tenure | 10 years |
| Islamic/Conventional | Islamic |
| Interest rate | Fixed profit rate from as low as 6.00% to 8.50% per annum. |
| Approval duration | Up to 5 business days |
| Debt consolidation | No |
Fees & Charges
| One time set up | |
|---|---|
| Processing fee | N/A |
| Stamp duty | 0.5% on loan amount |
| Penalties | |
|---|---|
| Early settlement | Bank reserves the rights to charge any fees and charges which represents the cost incurred by the bank |
| Late payment charges | 1% on outstanding loan amount |
Eligibility
| Age requirement | Age 21 - 60 |
| Employment eligibility | Premier Developer Panel, Private Hospital, Telecommunication Co., Licensed Financial Institution, MNC, PETRONAS Group of Co., selected Private University & College, Statutory Body, GLC, PLC, and Professionals. |
| Min. salary requirement | RM3,000 gross per month |
| Guarantor / Collateral requirement | N/A |
Other Requirements
| Need to open linked banked account? | Yes |
| Need to buy Takaful product? | No |
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BSN MyRinggit-i EKSEKUTIF-1 Personal Financing FAQ
What is the maximum amount you can borrow?
Borrowable amount of up to ten times your monthly gross salary or RM200,000 for a maximum loan tenure of 10 years.
The catch?
Applicant must be a Malaysian citizen between the age of 21 to 60 with full-time employment as employees of Premier Developer Panels, Private Hospitals, Telecommunication Companies, Licensed Financial Institutions, Multinational Companies, PETRONAS Group of Companies, Selected Private Universities & Colleges, Statutory Bodies, Government Link Companies, Selected Public Listed Companies in Main Market Bursa Malaysia (Financial, Plantation,Property,Technology,Trading / Service, Industrial Product, Consumer Sectors only) and Professionals (Doctors, Architects, Lawyers, Accountants and other certified Professionals).
Applicant must be earning a minimum gross salary of RM3,000 per month.
Opening of a linked bank account is compulsory.
What will it cost you and how will you be charged?
One time set-up fee:Calculate the cost of taking up this loan using our calculator
How long will the application take and what documentations are required?
Upon completing an application with iMoney, our representative will contact you within the same business day to confirm your application.
Thereafter, Bank Simpanan Nasional will require an average of five business days (not including Saturday, Sunday, and public holidays) before approval or disbursement.
You are required to furnish the following documents for your loan application:
- Copy of latest three (3) months’ Salary Slips;
- Copy of your NRIC (both sides);
- Latest EPF Statement; AND
- Confirmation Letter by Employer stating the below:
- Name and NRIC
- Designation / Position
- Monthly salary
- Date of Employment
- OR
- Latest EA / EC Statement and latest e-filing form or any verified documents by the Inland Revenue Board (LHDN)
Can you apply if you have a bad CCRIS/ CTOS/ Credit Record?
No, you are required to settle all overdue payments before applying. It is advised that you continue repaying your loans on time for another three months before reapplying.