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%2.55% p.a.
    Foreign9 years90%3.15% p.a.
View product disclosure sheet.

Fees & Charges

There are always fees but how much are they?

Profit Rate for New Cars
from 2.55% p.a. to 3.15% 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% p.a. in arrears

*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
  • Government employee
  • Government-Linked Company employee
  • Professional
  • Public Listed Company employee
  • Salaried 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. BSN Hire Purchase-i doesn’t just give you the best rates,ou’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 or BSN MyAuto-i offers higher margin of financing up to 90% of the car’s value, with the minimum financing is RM25,000. You can borrow for a minimum of 3 years up to maximum 9 years. This facility is available for the purchase of new vehicles and selective imported used vehicles.

Malaysians aged 21 years and above and not exceeding 65 years old can apply for this car loan. This car loan is favorable for those with Biro Perkhidmatan Angkasa (BPA), with or without salary deduction facility.

Those in the private sector and professional line of works can also avail themselves to this hire purchase loan, subject to terms and conditions.

How will BSN determine 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. 

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.

How do I pay for my instalments?

There are two ways you can go about in making your instalment payment:

  • via salary deduction under Biro Perkhidmatan Angkasa or Jabatan Akauntan Negara, or
  • via other channels such as Standing Instructions, over-the-counter, online banking, ATM/CDM for non-salary deduction scheme.

What if I don't keep up with my repayments?

You are subject to pay a compensation charge (Ta'widh) of 1% when you are behind with your repayments. According to the Hire Purchase Act 1967, if you fail to make a payment for two (2) consecutive months the bank has the right to repossess your vehicle. So please make your car payments on time.

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

Applicants with BPA:

  • BSN MyAuto application form;
  • One (1) month latest Salary Slip;
  • Copy of NRIC (front and back);
  • Copy of Driving License;
  • BPA 1/79 Form or Arahan Potongan Gaji BSN 09-A (for SKAP Scheme); and
  • Confirmation Letter from employer.

Applicants without BPA:

  • BSN MyAuto application form;
  • Three (3) months latest Salary Slip;
  • Copy of NRIC (front and back);
  • Copy of Driving License;
  • Copy of Bank Passbook(or Bank Account Statement); and
  • EPF statement or EA form.

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