Saturday, 10 October 2015,   25 Zulhijjah 1436H

Islamic Banking

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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
»   Mortgage Refinancing-i Package


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.
»   Under Construction Property – limited only to selected ²Premier Developers.
»   Completed Property – open to all.


»  *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
»  A copy of NRIC (applicant's / joint applicant's)
»  Pay Slip - original copy and latest three (3) months copies
»  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.

Features & Benefits

»  Financing tenure up to 35 years or not more than 70 years old* at the end of the financing period (whichever first).
»  Margin of financing could reach up to 95% (subject to Terms & Condition) upon the purchase price from the developer
    (inclusive of MRTT)
»  Smart choice - with Zero Moving Cost / Zero Entry Cost that offers a lower rate from the market
»  Easy to apply - provided at all BSN Main Branch nationwide

»  Convenient payment channels:
    -  BSN Branches nationwide
    -  Standing Instruction / Savings Account
    -  Interbank GIRO (IBG)

»  Financing options:
    -  Financing for property still under construction
    -  Financing for completed property
    -  Refinancing 

»  Packages offered:

Package Details
Second Charge Package »  Especially for Government Servants and other Government Agencies entitled for
    a home financing 
»  As an additional loan, 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. 


»  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.


»  Cost inclusive of legal fees, stamp duty, charge cost and property evaluation cost. 
»  Current BR at 4.10% (subject to change). 

Profit Rate

No  Financing Amount Tenure  Completed  Under Construction
 Non Zero Moving Cost (NZMC)
1 RM 100,000
and below
BR + 2.85%

> RM 100,000
< RM 300,000

Year 1 - 2 Zero Moving
Cost (ZMC)
Non Zero Moving
Cost (NZMC)
Zero Moving
Cost (ZMC)
Non Zero Moving
Cost (NZMC)
BR + 0.65% BR + 0.55% BR + 0.40% BR + 0.30%
Thereafter BR + 0.65% BR + 0.55%
3 RM 300,000
and above
Year 1 - 2 BR + 0.60% BR + 0.45% BR + 0.30% BR + 0.30%
Thereafter BR + 0.60% BR + 0.45%

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)

»   After the Facility Period

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

»   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