BSN

BSN Hire Purchase-i

Shariah-approved vehicle financing to help you own the car you want. Applicants with Biro Perkhidmatan Angkasa facility get to enjoy special low rates!

    • Up to 9 years tenure
    • Fixed Islamic financing
    • Flat profit rate
    • Up to 90% margin of finance
  • ConditionOriginMaximum YearsMargin of FinanceProfit Rate
    NewLocal9 years90%2.8% p.a.
    Foreign9 years90%2.15% p.a.

Fees & Charges

There are always fees but how much are they?

Profit Rate for New Cars
from 2.15% p.a. to 2.8% p.a., depending on car brand, borrowing amount, and period.
Stamp Duty
RM10
Early Settlement Fee
depends on agreed terms with the bank
Late Penalty Fee
1% is chargeable on overdue payment upon expiry of financing period

*inclusive of 6% GST

Requirements

Do you qualify for this financing?

Minimum annual income
RM24000
Minimum age
21 years old
Maximum age
60 years old
Who can Apply
  • Malaysians
  • Salaried employee
  • Government employee
  • Government-Linked Company employee
  • Professional
  • Public Listed Company employee

Frequently Asked Questions about BSN Hire Purchase-i

Things you might want to know

Found a car that you love? Next you’ll want to find the best way to finance it with the best profit rates possible, so you don’t pay more than you have to!

BSN Hire Purchase-i doesn’t just give you the best rates. You’ll get financing which is Shariah compliant, according to two Islamic contracts of Ijarah and Bai.

What are the features of BSN Hire Purchase-i?

BSN Hire Purchase-i offers financing up to 90% of the car’s value. The financing must be at least RM25,000 and a minimum of 3 years tenure, while the maximum duration is 9 years.

This special low profit rate hire purchase loan is only offered for select brand new and reconditioned vehicles. This plan is not applicable if you plan to get a used car.

How will the bank determined the profit rates?

Your car financing from BSN is not different from any other Islamic bank. While credit rating will affect your approval and the rates you get, to a certain degree, the main factor is the car in question. Pay lower profit rates when you get a new foreign car, compared to a new local car.

Employee in the public sector, statutory bodies, co-operatives and unions, and GLC companies that are registered for BIRO Perkhidmatan Angkasa will also get the special low rates shown above. Otherwise the profit rates will be as follows:

New Local 3.05 – 3.60%
New Foreign 2.40 – 3.00%

How do my monthly repayments work?

If you register for BIRO Perkhidmatan Angakasa, you will be required to fill up Borang Arahan 1/79 and Borang Kebenaran Potongan Gaji (SKAP09-A) to authorise auto-deductions from your salary each month to repay your BSN Hire Purchase-i.

Otherwise you will be required to make timely payment in full each month to BSN directly, according to the agreement with the bank.

What documents to I need to apply for BSN Hire Purchase-i?

To sign up for BSN Hire Purchase-i you’ll need to provide the following documents to the bank:

  • BSN Hire Purchase-i Application Form
  • Letter of authorisation to perform credit check
  • Certified copy of NRIC
  • Certified copy of driving license
  • Latest 3 months’ salary slips
  • Confirmation letter from employer that states:
    - Name
    - NRIC
    - Job Designation
    - Employment status
    - Date of employment
    - Retirement date
    - Salary and monthly allowances

Read More