BSN Housing Loan

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Bank Simpanan Nasional (BSN) Housing Loan

BSN MYHome-i

BSN MyHome-i
95% financing available
35 years loan tenure
Zero Entry Cost
Malaysian Citizens only

BSN MyHome-i is catered for general purchase for residential properties. This loan is shariah compliant and is based on Murabahah commodity concept. One can expect to finance up to 95% of their property purchase via this home loan package. The maximum loan tenure choices is 35 years. This is a Zero Entro Cost which means that all the loan legal fees are absorb by the bank.

Requirements

This loan is only available to Malaysian Citizens from 21 years to 70 provided it falls in the loan tenure. One must have a stable employment to qualify for the loan

 

BSN Second Charge

BSN Second Charge is a home loan under BSN GIRO Home that suits for any government servants and other government agencies. This home loan mainly functions as an additional loan for the individual mentions received insufficient loan that they are entitled. Another BSN GIRO Home packages include the BSN 2 Generations which primarily work as a joint loan between two generations comprising a parent with a child who still studying at any level, age 21 years old and above that would graduate in three years time. This makes the BSN 2 Generations to have a longer loan period with the parents did not suffering from a bad income for a period of five years.

Moreover, BSN which is a wholly government owned can opt for the zero moving cost (ZEC). The ZEC works as an absorbent for the entry cost that has been made to the borrowers. Currently, these home loans offer a financial amount starting from RM 50,000 to RM 100,000 and above. The interest rates for the borrowers start from 6.95% per annum to 4.40% per annum with a financial margin up to 90% of the property value. There is also another 5% charges with the property value finance which include the MRTA. The loans tenure is up to 35 years or till borrowers is age 70 years old whichever comes first.

Requirement

The loan needs the borrowers to be at least 21 years old to 70 years old by the end of financing with a minimum annual income of RM 24,000 and is open to any nationalities.

Charges

BSN property loan requires a 1% per annum for any delayed payments, 1% for the late penalty fee from current outstanding amount, RM 50 for the redemption letter fee and RM 20 for the letter for EPF withdrawal fee.

Documents

These documents are needed to apply the loan

  • A copy of NRIC or Identity Card
  • A copy of sales and purchase, letter of offer or booking receipt from the developer
  • A copy of individual title deed
  • Property evaluation reports for built or subsale properties
  • A copy of letter of employment
  • Latest copy of 3 to 6 consecutive months salary slip
  • A copy of business registration Form 24 and Form 49
 

Pinjaman Tekun

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Everything You Need To Know About ‘Pinjaman Tekun’

Being an entrepreneur here in Malaysia is not easy especially in our current times. Many young and even old entrepreneurs turn to loan sharks for money to fund their business when they can actually apply for a loan from Yayasan TEKUN Nasional (YTN). What many businessmen might not know is that the Entrepreneur Fund (TEKUN) has already given out up to more than a hundred thousand small loans to more than 100,000 entrepreneurs here in Malaysia.

TEKUN Nasional – Main Objective

Back in the old days, TEKUN Nasional Foundation which is now only known as TEKUN Nasional has been established in Malaysia ever since the 9th of November 1998. The main objective of actually establishing TEKUN Nasional was to serve as a fund which would provide quick financing to bumiputeras here in Malaysia to jump start and even expand their businesses.

Over the years, TEKUN Nasional has been improving itself in not only becoming an organization that only provides finances to businesses in need of capital to expand their operations but they have now also started to cater to the current trends in becoming a strategic entrepreneur development partner for other businesses as well. To summarize what TEKUN Nasional aim is, they are now also known as an institution as helps to provide business opportunities, capital to fund new and existing businesses and most importantly, they are now provide a platform for entrepreneurs to network and build their businesses.

The Goal

There is of course hopes that TEKUN Nasional will one day be a much more effective and dynamic organization whereby they will be able to fully support and finance all bumiputera owned businesses and create a more stabilized economy in the country.

Types Of TEKUN Financing

TEKUN Start-Up

This mode of financing is available to you if you are an entrepreneur who is new and if you are in need of capital for your business services regardless if it involves

TEKUN Business Venture

This type of funding is mainly if you are having a joint venture business package with TEKUN Nasional involving a tuition centre, beauty products or even frozen food.

TEKUN Business

Through TEKUN Business funding, you will be able to gain more working capital and this is mainly for mobile stalls and business which may be in need of capital for their manufacturing and transportation operations.

TEKUN Short Term Financing Package

A short term financing package which ranges within RM 500 to RM 2000 that comes with a weekly repayment method is also available for day to day businesses such as night markets, Ramadhan Bazaars and other businesses involving smaller sales transactions.

 

TEKUN Agriculture

Those who are in the agricultural business can now also apply for financing via TEKUN Agriculture as long as they are involved in vegetation and also planting.

TEKUN Tourism

Anyone who is in need to capital to grow and expand their tourism business can also apply for this particular financing. You will also be able to use this for financing for other activities such as homestay programmes and agro-tourism activities as well.

TEKUN Animal Husbandry

This financing model serves more to business owners who are planning to start or expand their business in animal husbandry such as rearing animals like goats and cows and breeding fishes, prawns and birds as well.

An Overall View

As a business owner and entrepreneur, TEKUN Nasional has definitely been of great help in business expansions as it covers all the major business sectors in Malaysia. With that being said, if you are a business owner who is aged between 18 to 60 years old with a valid business registration who is need of funding to get your business up and running, TEKUN Nasional is just what you might need to get things started off with.

 

Berjaya Sompo Travel Insurance

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During traveling, it is difficult to predict how things will go and if you end up spending a lot more than you’d like due to unforseen mishaps. Fortunately, whether in any case the plane is delayed or cancelled, if you slip on that giant snowball in London or injured yourself while mountain biking in Thailand, the Berjaya Sompo Insurance Berhad offers a travel insurance care that help with such matters. The policy provides coverage for those traveling abroad (including West to East Malaysia) and vice versa in case of any bodily injuries, disability or death from the result of violent, accidental, external or detectable incidents during the trip. Expenses from tragedies on the travel can be reimbursed through the policy. Any Malaysians, Permanent Residents, and legally employed individuals with permits in Malaysia or their spouses and children qualify for this policy.

Policy

The policy is in force starting from the date stated in the schedule. It is not possible to extend cover after departure to destination or during the trip. The total premium you need to pay depends on the geographical area, sum insured, benefit option, duration of trip and underwriting requirements of the company. There will be a 6% service tax charge and RM10.00 stamp duty for each policy. There are individual and family plans that includes you, your spouse and children.

You have a choice of selecting either the elite, basic or family plan when traveling with your family. The basic plan covers only medical related benefits while the elite includes medical plus travel inconveniences or damages such as loss baggage, travel and luggage delay, missed departure, travel curtailment and more. Claims must be made within 30 days of the day of injury or event. It is mandatory to write to the company fully stating all particular regarding the accident, loss or damage that incures claimable expenses with all original bills and receipts.