BSN Hire Purchase

A simple and straightforward car loan from BSN - pay a deposit you can afford - then pay the balance over the next few years

    • Up to 9 years tenure
    • Fixed loan
    • Flat interest rate
    • Up to 90% margin of finance
  • ConditionOriginMaximum YearsMargin of FinanceInterest Rate
    NewLocal9 years90%2.8% p.a.
    Foreign9 years90%2.15% p.a.

Fees & Charges

There are always fees but how much are they?

Interest Rate for New Cars
from 2.15% p.a. to 2.8% p.a., depending on car brand, borrowing amount, and period.
Stamp Duty
Early Settlement Fee
depends on agreed terms with the bank
Late Penalty Fee
8% p.a. of the outstanding amount

*inclusive of 6% GST


Do you qualify for this loan?

Minimum annual income
Minimum age
21 years old
Maximum age
65 years old
Who can Apply
  • Malaysians

Frequently Asked Questions about BSN Hire Purchase

Things you might want to know

Who is eligible for a BSN Hire Purchase car loan?

Malaysians aged 21 years or over can apply for this car loan. What's the catch? This car loan is favourable for those with Biro Perkhidmatan Angkasa, which you will find out why soon enough.

What are my car loan repayments?

I'll be happy to explain. Your monthly repayments will be based on BSN's Risk Based Pricing (RBP) computation and the nationality of your car. If you are eligible for the Biro Perkhidmatan Angkasa, you will receive a lower interest rate.

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

You may have to pay a late penalty if you are late making a repayments. According to the Hire Purchase Act 1967,  if you fail to make a payment for two consecutive months the bank has the right to repossess your vehicle. So please make your car payments on time.

What if I decide to make an early settlement?

You can pay off your car loan in full anytime you like. You will even receive a rebate on the interest from the remaining finance period.

Before I apply, what documents do I need to get together?

Applicants with BPA:

  One month latest Salary Slip;
   A copy of NRIC (front and back);
   A copy of Driving License;
   BPA 1/79 Form; and
   Confirmation Letter from employer

Applicants without BPA:

  Three months latest Salary Slip;
  A copy of NRIC (front and back);
  A copy of Driving License;
  A copy of Bank Passbook(or Bank Account Statement) and
  EPF statement or EA form.

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