How much money can I borrow?
With the BSN STT personal loan, you can borrow from a minimum of RM5,000 to a maximum of 95% of the amount held in your BSN Term Deposit. The repayment period run between two (2) and ten (10) years, which many conventional personal loans in the market will only allow a maximum of 7 years.
How much does the BSN STT loan cost?
No extra processing fees are charged when you apply for a BSN STT. You will just need to pay a Government Stamp Duty, which is calculated at 0.50% of the total amount you borrow.
What do I need to apply for BSN STT personal loan?
This is a personal loan secured against your BSN Term Deposit, so you will not need to provide a down payment or guarantor. To make an application you must provide supporting documents:
- Copy of MyKad (front and back;
- Original certificate of BSN Term Deposit; and
- Copy of GIRO/GIRO-i Passbook / Statement
How do I get my hands on the money?
Your application for a BSN STT loan may take a few business days to process. Once your loan is approved the money you are borrowing will be transferred to the account of your choice.
How do I pay the money back?
Loan repayments start one month after you’ve received the money you are borrowing. You are required to set up a Standing Instruction on your monthly instalments until the total amount of the loan is repaid.
Can I pay my BSN STT personal loan off early?
You can finish paying for your loan whenever you want. There are no penalties for early repayment.
Is there anything else I need to know?
The BSN STT personal loan calculates interest at monthly rest, and is pegged to the Base Rate ( BR). This means that the Effective Interest Rate that you pay is greater than the advertised interest amount.