Monday, 28 September 2020,   09 Safar 1442H
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BSN MyAuto-i UsedCar 

Own your dream car with our attractive Hire Purchase facility.
Shariah Contract
Based on the Shariah contract Al-Ijarah Thumma Al-Bai' (AITAB), which refers to two contracts; Ijarah and Bai' contracts, which are undertaken separately and consequentially. Under the first contract, the hirer leases the vehicle from the owner at an agreed rental over a specified period. Upon expiry of the lease period, the hirer may enter into a second contract to purchase the goods from the owner at an agreed price.

Features & Benefits

» Competitive profit rates.
» Convenient payment 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.


» Employee of Government and Government Linked Companies.
» 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 (permanent/ 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.

Profit Rate*

» Ranges from *3.00% p.a. to 3.80% p.a.
*Individual Profit Rate may vary due subject to the BSN valuation credit.

Late Payment Charges (LPC)

Late Payment Charges based on Ta'widh (compensation) will be charged on overdue monthly rental, calculated on a daily basis from the due date of the rental payment until one day prior to the payment date.
The calculation of LPC is based on the formula below:

During financing


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

After the
completion of
financing period


Outstanding principal x IIMM* x  No. of overdue day(s)
Note :
*IIMM (Islamic Interbank Money Market) refer to the rate as may be determined by Bank Negara Malaysia (BNM) from time to time.

Early Settlement

Customer is entitled for Ibra' (rebate), which is refund of the term charges for the remaining 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-i Agreement.
» RM10 for Guarantor's copy of agreement (if applicable).
» RM10 for Service Agency Agreement.

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 website.