Personal Loan BSN- Bank Simpanan Nasional

Looking for the best financing option? Look no further than the personal loan offered by Bank Simpanan Nasional (BSN). With a maximum loan amount of RM200,000, BSN’s personal loan is designed to meet various financial needs. Whether you’re a government servant, military personnel, or employed in the private sector, this loan is accessible to all.

Unlock Financial Freedom: BSN Personal Loan | Up to RM200k
Personal Loan BSN Pinjaman Peribadi Bank Simpanan Nasional

Bank Simpanan Nasional Berhad (BSN) Personal Loan: Summary

  • Bank Name: Bank Simpanan Nasional
  • Abbreviation / Code Name: BSN
  • Bank Promotion Name: General info about BSN personal financing
  • Max Loan Amount: RM200,000
  • Overlap: Yes
  • Financing Tenure: 10 years

Personal Loan BSN Executive-1

Bank Simpanan Nasional (BSN) offers an exclusive personal loan package known as Executive-1, designed specifically for executives. This loan package caters to Malaysian citizens aged between 21 to 55 or 60 years old at the end of the loan tenure. The application is open to both permanent and contract officers and staff who have a minimum of three years of working experience.

The Executive-1 personal loan is exclusively available to employees of selected organizations, including Premier Developer Panel, Private Hospitals, Telecommunication Companies, Licensed Financial Institutions, Multinational Companies, PETRONAS Group of Companies, Selected Private Universities & Colleges, Statutory Bodies, Government Link Companies, and Selected Public Listed Companies in Main Market Bursa Malaysia (specific sectors only). Additionally, professionals such as doctors, architects, lawyers, accountants, and other certified professionals are eligible to apply.

To qualify for the Executive-1 loan, applicants must have a minimum gross income of RM3,000 per month for permanent staff and RM10,000 per month for contract staff. Applicants must also hold a BSN GIRO or GIRO-i account.

Applicants are required to submit several documents, including copies of the latest three months’ salary slips, a copy of their NRIC (both sides), the latest EPF statement, and a confirmation letter from their employer. The confirmation letter should include details such as the applicant’s name and NRIC, designation and employment status, monthly salary, and date of employment. Alternatively, applicants can provide their latest EA/EC statement and e-filing form or any verified documents by the Inland Revenue Board (LHDN).

The Executive-1 personal loan offers various features to borrowers. The mode of payment is via standing instruction from other financial institutions where the customer’s salary account is credited. Customers can also make payments using BSN Standing Instruction, ATM/CDM, and IBG (Interbank Giro).

It’s important to note that the eligibility criteria, required documents, and product features are subject to the current terms and conditions set by BSN. Applicants are advised to carefully review all requirements before applying for the Executive-1 personal loan to ensure a smooth application process.

Note: *Subject to the current Terms & Conditions.

Product Features

Mode of payment is via standing Instruction from other Financial Institutions where the customer salary account is credited. BSN Standing Instruction. ATM/CDM and IBG (Interbank Giro).

Personal Loan BSN Limit / Rate

NoIncomeInterest RateLoan LimitTenure
1RM3,000 to RM5,0007.50%Five (5) times of monthly gross income

Minimum: 2 years

Maximum: 10 years

2> RM5,000 to RM10,0006.50%Seven (7) times of monthly gross income
3> RM10,0005.50%Ten (10) times of monthly gross income / maximum RM200,000 whichever is lower

Minimum Loan: RM10,000

Late Payment Charge

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

Personal Financing Facilities: ASB Loan (SPD ASB) With Floating Rate

Get the funds you need quickly with a personal loan from BSN, also known as Bank Simpanan Nasional. Our personal loans are affordable and flexible, specially tailored to your needs. Additionally, BSN offers the ASB Loan, another form of term loan designed for purchasing ASB unit trust.

To be eligible for these loans, applicants must meet certain criteria:

  1. Product Eligibility:
    • All qualified ASB investors under the ASNB guidelines.
    • Aged between 18 to 60 years old at the end of the loan tenure.
    • Can be either a permanent employee or self-employed.
  2. Documents Required: For Permanent Employees:
    • One (1) copy of NRIC (front and back).
    • One (1) copy of ASB passbook.
    • One (1) copy of the latest two (2) months’ pay slip.

    For Self-Employed Individuals:

    • One (1) copy of NRIC (front and back).
    • One (1) copy of ASB passbook.
    • One (1) copy of the latest three (3) months’ bank statement.

Please note that all document copies must be certified by BSN’s officer. By meeting these requirements and submitting the necessary documents, applicants can quickly access the funds they need through BSN’s personal loans or ASB Loan.

Personal Loan BSN Limit/ Amounts

Loan amount will be in multiple of RM1, 000 and subject to the following limit :

MinimumMaximum
RM10,000RM200,000 Excluding other charges)

Financing Rates

TenureInterest Rate
5 – 30 years or subject to the maximum age of 60 years whichever is earlier.
  • BLR -1.65% Government’s servant who owns BSN’s salary account. (Installment through Standing Instruction)
  • BLR – 1.60%Other categories of customer (Private or Government sector)

Late Payment Charge

Monthly installments in Arrears × 1% × Number of Days Overdue/ 365

BSN Exec-1 with Floating Rate

BSN offers an exclusive personal loan package tailored specifically for executives, providing exceptional benefits and privileges. This package is exclusively available to employees of various reputable organizations, including Premier Developer Panel, Private Hospitals, Telecommunication Companies, Licensed Financial Institutions, Multinational Companies, PETRONAS Group of Companies, selected Private Universities & Colleges, Statutory Bodies, Government Link Companies, and selected Public Listed Companies in Main Market Bursa Malaysia across various sectors such as Financial, Plantation, Property, Technology, Trading/Service, Industrial Products, and Consumer Sectors.

Additionally, it is open to professionals like Doctors, Architects, Lawyers, Accountants, and other certified Professionals.

This executive loan package offers unparalleled advantages and is the ideal choice for executives seeking financial assistance. Applicants can enjoy numerous benefits, but all applications must undergo employer confirmation. To be eligible, applicants must meet the following criteria:

  • Malaysian citizenship.
  • Aged between 21 to 55/60 years old, subject to the retirement age policy.
  • Open to Executives and above who have been employed for at least one year.
  • Minimum Gross Income requirement:
    • RM3,000 and above for Permanent Employees.
    • RM10,000 and above for Contract Employees.
    • Applicants must also be BSN GIRO/GIRO-i account holders.

By meeting these eligibility criteria, executives can access this exclusive personal loan package from BSN, ensuring they receive the financial support they need with attractive benefits and convenient terms.

Note: *Subject to employer confirmation.

Documents Required

One (1) copy of NRIC (front and back);

  • One (1) copy of latest three (3) months’ pay slip.
  • Latest EPF statement; AND» Confirmation Letter by Employer stating info: Name- NRIC- Designation- monthly Salary- Date of Employment OR
  • Latest one (1) year EA / EC statement and e-filing form or any verified documents by the Inland Revenue Board (LHDN).

Note:» All document copies to be certified by BSN’s officer.

Personal Loan BSN Limit (Minimum and Maximum)

Minimum: RM5,000

Maximum:

No.IncomeLoan Limit
1.RM3,000 to ≤ RM5,000Five (5) times of monthly gross income
2.> RM5,000 to ≤ RM10,000Seven (7) times of monthly gross income
3.> RM10,000Ten (10) times of monthly gross income / maximum RM200,000 whichever is lower

Financing Rates

TenureInterest Rate

Minimum: 2 years Maximum: 10 years

subject to: i. The retirement age, whichever is earlier. ii. Customer qualification

BLR + 2% (monthly basis)Current BLR: 6.85% (effective as at 22nd July 2014)

Late Payment Charge

»Monthly installments in Arrears × 1% × Number of Days Overdue / 365.

SPD ATM (BSN Personal Loan for Army)

This personal loan BSN offer exclusively to Malaysian Armed Force Personnel. Malaysian citizen. Aged 21 to ≤ 60 years old (subject to retirement age during completion of the loan). Malaysian Armed Force (MAF) staff- Lieutenant or equivalent and above only. Permanent employee who has been employed for ≥3 months. Minimum gross income (basic salary + fixed allowance) of RM3,000 per month. Monthly salary payment MUST be through BSN e-Payment System. BSN GIRO/ GIRO-i account holder. Document required:

  • A certified copy of latest 2 months’ salary slips.
  • A certified copy of your NRIC (both sides).
  • Confirmation letter from your employer with the details: Name/ NRIC No.- Designation / Status- Monthly Gross Income- Date of Employment- Date of Retirement / Tarikh Tamat Perkhidmatan (TTP).
  • Letter of Consent and Undertaking for Salary Account Deduction.
  • Proof of having GIRO / GIRO-i account.

Loan Limit Min. and Max.

Min. 5k and max is RM200,000

Interest Rate

1 to 10 years: 4.5%

The rate on the principal balance of the Facility shall be changed to the Default Rate (6.50%) if you commit any of the following events: – early retirement from MAF services;– quit or resign from MAF services;– terminated by MAF;– change BSN Salary Account to other bank or financial institutions;– fail to pay any of the Instalments in accordance with the repayment schedule as stipulated by the Bank.»Default Rate (6.50%) will remain unchanged until end of the loan tenure.

Frequently Asked Questions (FAQ) about Bank Simpanan Nasional Berhad (BSN)

Curious about Bank Simpanan Nasional Berhad (BSN)? Explore our FAQ section for answers to common questions. Find out more about our services, policies, and how we can meet your needs. Dive into our FAQ to discover everything you need to know before getting started. Start exploring now!

What are the best personal loan offers provided by BSN?

Bank Simpanan Nasional (BSN), a prominent bank in Malaysia, extends various personal financing options to cater to diverse needs. Some of the notable options include:

  1. Executive-1 Loan
  2. ASB Loan with Floating Rate
  3. Exec-1 with Floating Rate
  4. Financing tailored for armed forces or “Tentera” members

Why do so many people opt for BSN personal loans?

BSN personal loans are favored by many individuals due to several compelling reasons. Firstly, Bank Simpanan Nasional (BSN) is a trusted financial institution in Malaysia with a long-standing reputation for reliability and integrity. This instills confidence among borrowers, knowing that they are dealing with a reputable bank.

Secondly, BSN offers a diverse range of personal loan products tailored to suit different needs and preferences. Whether it’s the Executive-1 Loan, ASB Loan with Floating Rate, Exec-1 with Floating Rate, or specialized financing options for armed forces personnel, BSN provides flexibility and choice to borrowers.

Moreover, BSN personal loans come with competitive interest rates and favorable terms, making them attractive to individuals seeking affordable financing solutions. The bank also offers convenient application processes and efficient customer service, ensuring a hassle-free experience for borrowers.

Additionally, BSN’s widespread presence across Malaysia with numerous branches and digital banking channels makes it easily accessible to borrowers nationwide. This accessibility, coupled with the bank’s commitment to customer satisfaction, contributes to the popularity of BSN personal loans.

Overall, the combination of trustworthiness, product variety, competitive terms, and accessibility makes BSN a preferred choice for individuals seeking personal financing solutions in Malaysia.

Article Related to Personal Financing from Banks

*Source: mybsn.com.my

Hashtag / Keywords

#personalloan #Bank #BSN

BSN- Bank Simpanan Nasional Reviews

Customer Reviews about BSN- Bank Simpanan Nasional

BSN, or Bank Simpanan Nasional, offers excellent personal loan products that cater to various needs, including those of government employees like myself. One of the standout features is the convenience of the application process. As a government employee, I found it incredibly easy to walk into their branch and apply for the loan. The straightforward application process saved me time and hassle.

Moreover, BSN's personal loan products require minimal documentation, which further streamlined the application process. As someone with a busy schedule, this was a huge relief. I didn't have to gather a mountain of paperwork; instead, I could focus on providing the essential documents required.

Additionally, I appreciate that BSN offers a range of financing options, including hire purchase loans. This versatility allowed me to explore various financial solutions tailored to my needs. Whether I needed funds for personal expenses or a vehicle purchase, BSN had suitable loan options available.

Overall, my experience with BSN's personal loan products has been highly satisfactory. The convenience, minimal documentation requirements, and range of financing options make them a top choice for individuals like myself. I would recommend BSN to anyone seeking a hassle-free loan application process with competitive terms and excellent customer service.

Saifuddin Bin Nordin

Penjawat Awam

Contact BSN (Bank Simpanan Nasional)

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