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BSN MyRinggit
ATM (Salary Deduction)
Here’s helping to make life easier for those who help keep our country safe. This loan plan is specially designed and exclusive only to Malaysian Armed Forces Personnel.
Eligibility
Apply for BSN MyRinggit.
Can you afford the monthly payments? Let's try and calculate.
View BSN MyRinggit ATM Product Disclosure Sheet - salary deduction.
» Malaysian citizen aged 21 to ≤60 years old (subject to retirement age during completion of the loan)*.
» Open to all rank of Malaysian Armed Forces (MAF) staff.
» Permanent employee who has been employed for 3 months and above.
» Minimum gross income (basic salary +fixed allowance) of RM3,000 per month -Lieutenant or equivalent and above.
» Minimum basic salary of RM3,000 per month – Second Lieutenant or equivalent and below.
» Monthly salary payment MUST be through BSN e-Payment System.
» BSN GIRO/i account holder.
*Note: For rank of Second Lieutenant or equivalent and below, the age upon application MUST not less than 5 years from the date of retirement.
Document Required
» A certified copy of latest 2 months salary slips.
» A certified copy of your NRIC (both sides).
» Confirmation letter from your employer with the below details:
- Name / NRIC No.
- Designation / Status
- Monthly Gross Income
- Date of Employment
- Date of Retirement / Tarikh Tamat Perkhidmatan (TTP).
» Letter of Consent and Undertaking for Salary Account Deduction.
» Proof of having BSN GIRO/i account.
» A copy of form / application letter for salary account transfer to UGAT.
Loan Limit
| Rank | Minimum | Maximum |
|---|---|---|
| For rank of Lieutenant or equivalent and above | RM5,000 | RM200,000 |
| For rank of Second Lieutenant or equivalent and below | 35 x of monthly gross income / up to RM200,000 (whichever is lower)* |
*Subject to monthly salary deduction limit of not more than 60%.
Rates
| Rank | Loan Period | Interest Rate |
|---|---|---|
| For rank of Lieutenant or equivalent and above | 1-10 years | 4.99% |
| For rank of Second Lieutenant or equivalent and below | 5.29% |
| Note: Additional 1% from the above interest rate for Loan without Insurance. |
» The rate on the principal balance of the Facility shall be changed to the Default Rate (6.50%) if you commit any of
the following events :
– early retirement from MAF services;
– quit or resign from MAF services;
– terminated by MAF;
– change BSN Salary Account to other bank or financial institutions;
– fail to pay any of the Instalments in accordance with the repayment schedule as stipulated by the Bank.
» Default Rate (6.50%) will remain unchanged until end of the loan tenure.
» Calculate your monthly repayment. Click here.
Charge (Late Payment)
» Monthly Installments in Arrears × 1% × Number Of Days Overdue ⁄ 365.
