Sunday, 20 October 2019,   20 Safar 1441H

Personal Banking

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BSN MyAuto UsedCar 

 
Own your dream car with our attractive Hire Purchase facility.
 
Based on the Shariah concept of Tawarruq which comprises of Bai Murabahah and Wakalah contracts using the commodity (underlying asset) provided by the approved commodity provider.

Features & Benefits

» Competitive interest rates.
» Convenient repayment mode via various BSN channels.
» Margin of Financing:
  - Minimum : RM20,000.
  - Maximum: up to 90% from the selling price.
» Tenure of Financing:
  - Minimum: 3 years (36 months).
  - Maximum: 9 years (108 months), subject to retirement age.
» Age of Vehicle:
  - Maximum : 15 years (refer to year made) at the end of the financing tenure.
» Open to all used vehicles acceptable to BSN only.
   
   

Eligibility

» Employee of Government and Government Linked Companies (GLCs).
» Malaysian citizen aged 21 years and above at the time of application and NOT exceeding 60 years old upon completion of financing.
» Employed for the latest 6 months (with status permanent or contract).
» Not a bankrupt.
» Total deduction should NOT exceed 60% of the monthly salary, including this installment.
   
   

Documents Required (Applicant)

» Application form duly signed by applicant;
» Copy of NRIC (both sides);
» Copy of valid Driving License;
» Copy of three (3) month latest Pay Slip;
» Authorize letter to perform credit checking; and
» Photocopy of salary account statement / passbook or EPF statement or latest Income Tax returns; and
» Other related documents acceptable by BSN (if required).
   
   

Guarantor, If applicable

» Copy of NRIC (both sides);
» Copy of three (3) months latest pay slip;
» Copy of bank statement or latest EPF statement or EA form.
   
   

Interest Rate*

» Ranges from *3.00% p.a. to 3.80% p.a.
   
Final rate may vary depending on customer's individual credit evaluation.
   

Late Payment Charges

Overdue instalment interest of 8% per annum, will be charged on the amount in arrears calculated on a daily basis, from the due date of the instalment payment until one day prior to the payment date.
   

Early Settlement

Customer is entitled to a rebate which is the refund of the term charges for the unused tenure.
   
The calculation is based on the formula below:

 

Rebate =   n (n+1)     X   TC
    N (N+1)

 

n    =  Remaining Rental Period in Months
N   =  Original Rental Period in Months
TC =  Term Charges

Stamp Duties

» RM10 for Hirer's copy of the Hire Purchase Agreement.
» RM10 for Guarantor's copy of agreement (if applicable).
   
Note:

All payments are one-off payment only. Any change in fees and charges will be notified by 21 days' notice in advance from effective date with notification to be sent / posted at the BSN's branches or uploaded in www.mybsn.com.my website.