Sunday, 15 December 2019,   17 Rabiulakhir 1441H

Home Islamic Banking Financing > BSN MyAuto-i High Ranking Officials Scheme

BSN MyAuto-i High Ranking Officials Scheme

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

» Attractive financing rates.
» Enjoys Green Lane processing priority.
» Convenient payment network via various BSN channels.
» Margin of Financing:
  - Minimum of RM50,000 ad up to 90% from the selling price
» Tenure of Financing:
  - Minimum 36 months and Maximum 108 months (subject to retirement age).
» Opened to selected brand new national, non-national & unregistered reconditioned vehicles only.


» Malaysian Citizens.
» High Ranking Officials of:
  a. Government Sector;
  b. Government Link Company (GLC);
  c. Government Link Agency (GLA); and
  d. Government Statutory Body.
» High ranking officials are classified as management level starting from Grade 52 (or equivalent) and above subject to monthly income of RM10,000 and above.

Documents Required (Applicant)

» Application form duly signed by applicant
» Copy of NRIC (both sides);
» Copy of one (1) month latest pay slip; and
» Business/Contact Card

Profit Rates


Financing Tenure

Vehicles Category

Non-National & Unregistered Reconditioned


3 – 4 years

2.53% p.a.

2.85% p.a.

5 – 9 years

2.63% p.a.

2.95% p.a.

Late Payment Charges

Ta'widh (compensation on late payment), 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 to an 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 sewa beli-i Agreement.
» RM10 for Guarantor's copy of agreement (if applicable).
» RM10 for Service Agency Agreement.
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