BSN MyRinggit (Public Sector)

Islamic Financing Low Income Government Servant
  • Profit Rate
    2.53% p.a. ~ 8.85% p.a.
  • Max. Financing Amount
    RM 400,000
  • Approval Duration
    Up to 5 working days

BSN Loan Calculator

RM
year(s)
RM
You Pay
RM 89 /mth
Profit Rate
Total Profit Payable
RM 70
Total Payment
RM 1,070
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*Terms and Conditions

More details

  • icon Features Features

    Approval Duration
    Up to 5 working days
    Min. Financing Amount
    RM 5,000
    Max. Financing Amount
    RM 400,000

  • icon Eligibility & Required Documents Eligibility & Required Documents

    Age Requirement
    18 - 60 years old
    Min. Monthly Salary
    RM 1,500

    Other eligibility requirements

    Employment Letter
    Confirmation letter from employer
    Salary Slip
    Latest 2 months' salary slip
    Others
    Works in government sector / GLA / GLC / organizations which has the facility of salary deduction through BPA
    Bank Account Requirement
    BSN GIRO/i account holder
    NRIC
    A copy of NRIC (both sides)
    Employment Requirement
    Permanent employee who has been employed for 3 months and above
    Employment Requirement
    Contract / temporary employee (over 12 months' service)

  • icon Fees and charges Fees and charges

    Processing Fees
    No processing fees
    Stamp Duty
    As per the Stamp Duty Act 1949 (Revised 1989)

    Other fees and charges

    Will Fee (if any)
    RM500
    Perlindungan Tunai-i (optional)
    RM318
    Wakalah Fee
    RM30
    Request of certified true copy (CTC) of security documents
    RM45 (per request) *Note: Mandated product is exempted
    Issuance of yearly financing statement
    RM10 (per request)*Note: Mandated product is exempted
    Late Payment Charges (LPC)
    Late Payment Charges will be charged based on Ta’widh (Compensation).
Last updated: Dec 2, 2024

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Step 1

Use our personal financing calculator to find the best personal financing based on your requirements and eligibility.

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Select the best product that fits your requirements from the list of recommended personal financing products listed and click on the Apply button.

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Fill in a form with your details to be submitted for application, and a representative from iMoney or the bank will call you to process the application.

More details about the product

BSN MyRinggit (Public Sector) is a personal loan offered by Bank Simpanan Nasional (BSN) specifically designed for individuals working in the public sector. This loan product provides financial assistance to public sector employees who require funds for various purposes, such as debt consolidation, home renovation, education expenses, or emergency situations.

It is a personal financing facility based on the Shariah concept of Tawarruq. With a high financing amount of up to RM400,000, it is only open to full-time executive employees in the public sector.

You can go through the frequently asked questions below for more information.

  • Eligibility criteria for BSN MyRinggit (Public Sector) personal loan are:

    1. Works in the government sector, agency or GLC which has the facility of salary deduction through BPA.
    2. Malaysian citizen
    3. Aged between 18 to 60 years old, or retirement age, whichever is earlier.
    4. Minimum monthly income of RM1,500.
    5. Tenure of service: Permanently employed applicants should have a minimum tenure of service of 3 months, while a contract / temporary employee should have over 12 months of service.
    6. BSN GIRO/i account holder.

  • The table below shows the loan information for the BSN MyRinggit (Public Sector) personal loan:

    Loan Information

    Fixed Rate

    Floating Rate

    Interest Rate

    4.60% to 5.30%

    SBR + 2.60% to SBR + 4.62%

    Interest Rate without Insurance

    Additional 1% from the above interest rate

    Loan Limit

    Minimum: RM5,000

    Maximum: RM400,000

    Loan Tenure

    1 year up to 10 years

  • The charges associated with the BSN MyRinggit (Public Sector) personal loan are:

    Stamp Duty

    As per the Stamp Act 1949 (Revised 1989)

    Insurance (optional)

    Varies based on loan amount and borrower’s age

    Advance payment

    Maximum equivalent to two (2) months of monthly instalment

    Wasiat Fee (if any)

    RM500

  • To apply for a BSN MyRinggit personal loan you will need:
    1. Copy of your National Identity Card (IC) or passport.
    2. Latest 2 months' salary slip.
    3. A letter from your employer confirming your employment status.

  • Yes, you can apply for the BSN MyRinggit (Public Sector) personal loan online directly with iMoney using our online application form.

  • The BSN MyRinggit (Public Sector) personal loan offers several special features and benefits tailored specifically for individuals working in the public sector. This loan product is designed to provide financial assistance and flexibility to meet the unique needs of public sector employees.

    This loan offers quick approval and disbursement processes with minimal documentation requirements. Overall, the BSN MyRinggit (Public Sector) personal loan stands out with its competitive interest rates, flexible repayment options, high financing limits, and streamlined application procedures.

  • You can reach out directly to Bank Simpanan Nasional (BSN) for more information.

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