Sunday, 11 December 2016,   10 Rabiulawal 1438H
Home > Islamic Banking Financing > BSN MyHome-i (Residential Property)


BSN MyHome-i (Residential Property)

 

Get the home of your dreams with BSN MyHome-i (Residential Property).
 
Shariah Concept
The Shariah concept used is Commodity Murabahah (Tawarruq) which refers to buying and selling of the commodities as the underlying asset on the deferred basis by way of Murabahah (Sale contract with the disclosure of the asset cost price and profit margin), then selling it to a third party to obtain cash.

 

Features & Benefits

» Financing tenure up to 35 years or not more than 70 years old* at the end of the financing period (whichever first).
» Up to 95% financing (subject to Terms & Condition) depending on purchase price from the developer (inclusive of MRTT).
» Zero Entry Cost (ZEC) / Non Zero Entry Cost (NZEC).
» Easy to apply - provided at all BSN Main Branches nationwide.
» Convenient payment channels:
 
- BSN Branches nationwide
- Standing Instructions / Savings Account
- Interbank GIRO (IBG)

 

Financing options:

» For residential property still under construction
» For completed property purchased from owner (sub-sale)
» For purchase of bungalow lot and building the house thereon.
» For purchase of shophouse or commercial lot.
»
Mortgage Refinancing 
Mortgage Refinancing 

 


Packages Offered

»   BSN MyHome-i (Residential Property)
»   BSN MyHome-i (CES Packages)
»   Mortgage Refinancing-i Package

 


Eligibility

For Individual / Joint Applicants
» Malaysian citizen aged 21 years old and above (not exceeding 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 MF 6¹ and above areas
» Under Construction and Completed  Property

 

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.


Documents Required 

 For Individual / Joint Applicant
» Copy of NRIC (applicant's / joint applicant's)
» Pay Slip - original copy and copies of latest three (3) months »  Latest 3 months’ Bank Statement
»  Latest 6 months’ Bank Statement (other income)
» Latest EPF Statement
» Employer Confirmation Letter
» J Form / Latest Income Tax Declaration
» Copy of Sale and Purchase Agreement and / or property documents
» Copy of Evaluation Report (for property purchase) from panel valuer 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
» B/BE Form & LHDN Receipt
» Business Registration Certificate (SSM)
» Memorandum & Articles of Association (M&A) / Form 24, Form 44 & Form 49
» Board of Director Resolution
*Guarantor: If required, mandatory documents are similar to applicant.
 
Packages Offered:
Package Details
Second Charge Package »  Especially for Government Servants and other
    Government Agencies entitled for a home financing 
»  As an additional financing, in case the existing
    financing is insufficient 
2 Generations Package »  Joint financing consisting of 2 generations parent(s)
    and child (still in a learning institution and aged 21
    years and above)
»  Enjoy a longer financing period
»  Children pursuing studies at Diploma level and above
    and would graduate in three (3) years time
»  Parent still have steady/fix income for a period of
    five(5) years. 

 

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. 


Profit Rate

No

Financing Amount

Tenure

Effective Profit Rate (EPR)

Completed Property

Under Construction

Zero Entry Cost (ZEC)

Non Zero Entry Cost (NZEC)

Zero Entry Cost (ZEC)

Non Zero Entry Cost (NZEC)

1

RM 100,000 and
below

Whole Tenure

NIL

BR  + 3.00%

NIL

BR  + 3.00%

2

> RM 100,000
until
< RM 300,000

Year 1 - 2

BR + 1.10%

BR + 0.70%

 

BR + 0.85%

BR + 0.45%

Thereafter

BR + 1.10%

BR + 0.70%

3

RM 300,000 and above

Year 1 - 2

 

BR + 1.00%

 

BR + 0.60%

BR + 0.85%

BR + 0.45%

Thereafter

 

BR + 1.00%

 

BR + 0.60%

 

Notes:

» For financing amount of RM350,000 and above with 30 years of financing tenure and no lock-in period,
   the indicative profit rate is BR + 0.60%*. (applicable for NZEC package only).
» Current BSN Base Rate (BR) is 3.95% (with effect from 21st July 2016).

*Subject to terms and conditions

 

Early Settlement

» You may settle your financing at any time by submitting a written notice to the Bank.
»

In the event that the early settlement is made during the lock-in period, the early settlement charges, comprising legal costs and other expenses paid by the Bank under ZEC package, would be levied. 

 

Late Payment Charges 


»
   Within the Facility Period

Overdue instalment(s) x 1% x No. of overdue day(s)
                                      365

»   After the Facility Period

Outstanding principal x IIMM* x  No. of overdue day(s)
                                      365

 

Note:

»

Islamic Interbank Money Market (IIMM) is subject to change from time to time. 

 

Stamp Duty

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