Friday, 18 April 2014,   16 Jamadilakhir 1435H

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BSN AN NAIM Home Financing-i


BSN AN NAIM Home Financing-i is a financing facility to purchase property based on Shariah principle of Bai' Bithaman Ajil (BBA).


Shariah Contract

Shariah contract applicable is Bai’ Bithaman Ajil (BBA). BBA contract refers to the sale and purchase transaction for the financing of an asset on a deferred and installment basis with a pre-agreed payment period. The sale price will include a profit margin agreed upon by both parties.


Financing Benefits

»   For purchase of new residential house or residential house under construction.
»   For purchase of completed new residential house purchased from its owner. 
»   Mortgage refinancing.
»   For purchase of bungalow lot and building the house thereon.
»   For purchase of shophouse or commercial lot. 


Packages Offered

»   BSN AN NAIM Home Financing-i
»   Corporate Staff Home Financing-i Package
»   Mortgage Refinancing-i Package


Requirements


For Individual / Joint Applicant

»   Malaysian citizen aged 21 years old and above (must not exceed 70* years old at the
     end of financing period).
»   With regular income and capable of making repayment.
»   With proof of property purchase or owns a property.
»   Property located in ¹MF 6 and above areas.
»   For Financing Amount of RM300,000 and above only.
»   Under Construction Property – limited only to selected ²Premier Developers.
»   Completed Property – open to all.

Notes:

»  *Eligibility for age limit of 70 years old is subject to Bank's Terms & Conditions.
»  ¹MF: Marketability Factor.
»  ²Terms and Conditions apply.


For Organisation

»   Organisations; either sole proprietor, partnership, private company or public company 
     owned by Malaysian citizen (under the Partnership Act 1961 or Company Act 1965).

»   Operated for at least two (2) years.
»   Stable financial record.

Required Documents

 For Individual / Joint Applicant
» Pay Slip - original copy and latest three (3) months copies.
» A copy of NRIC (applicant's / joint applicant's).
» J Form / Latest Income Tax Declaration.
» Copy of Sale and Purchase Agreement and / or property documents.
» Copy of Evaluation Report (for property purchase) from evaluation panel registered with the Bank.


For Organisation 

»   Organisation Bank Statement for the period of six (6) months.
»   Organisation Financial Statement for last two (2) years) approved by authorised Audit Body.
»   Memorandum of Association.
»   Board of Director Resolution.
»   Form 24 and Form 49 of Company Act 1965.
*Guarantor: If required; mandatory documents are similar to applicant.


Features


Margin of Financing 

Margin of financing could reach up to 95% (subject to to Terms and Conditions) upon purchase price from the developer / vendor.


Financing Period 
Minimum: 5 years 
Maximum: 35 years (subject to age limit of not more than 70* years old at the end of the financing period).


Note:

»  *Eligibility for age limit of 70 years old is subject to Bank's Terms & Conditions.

 

Corporate Staff Home Financing-i Package

This financing plan is a cooperation between BSN and Employers which provides staff amenities. 

Mortgage Refinancing Package

You may get cash extra in between the current housing financing and current property value, with a cost-free transfer.

Notes:

»  Cost inclusive of legal fees, stamp duty, charge cost and property evaluation cost. 
»  Current BFR at 6.60% (subject to change). 


Profit Rate

No  Loan Amount Tenure Profit Rate
 Completed  Under Construction
 Zero Moving Cost (ZMC)  Non Zero Moving  Cost (NZMC)  Zero Moving Cost (ZMC)  Non Zero Moving  Cost (NZMC)
1 RM 100,000
and below
Whole
Tenure
NIL BLR + 0% NIL BLR  + 0%
2

> RM 100,000
to
< RM 300,000

Year 1 - 2
BLR - 2.20%
BLR - 2.30% BLR - 2.45% BLR - 2.55%
Thereafter BLR - 2.20% BLR - 2.30%
3 RM 300,000
and above
Year 1 - 2
BLR - 2.25%
BLR - 2.40% BLR - 2.55% BLR - 2.55%
Thereafter BLR- 2.25% BLR - 2.40%


Early Settlement

»  You can settle your loan at any time by submitting written notice to the Bank.
»  In the event that the early settlement is made during the lock-in period, the early settlement charges shall comprises the legal costs and
    other expenses that were paid by the Bank under ZMC package would be levied.


Late Payment Charges 


»
   Within the Facility Period

Overdue instalment(s) x Average Financing Rate (AFR) x No. of overdue day(s)
                                                             365

»   After the Facility Period

Outstanding principal x Average Financing Rate (AFR) x  No. of overdue day(s)
                                                             365

»   Late payment charges consist of Ta’widh (compensation) and Gharamah (penalty). Gharamah shall be channeled by the
     Bank to the approved charity organisations.

»   Average Financing Rate (AFR) refers to the rate as may be determined by the Bank and subject to change from time to time.


Stamp Duty

»  Principal Documents - Will be charged on ad valorem basis.
»  Other Documents – RM 10