No record of an impaired loan in the last 12 months.

Purchase of first home and own occupancy.Individual or joint application is allowed.Maximum monthly gross income of RM5000 (individual).The existing BSN MyHome loan has lasted for at least 2 years or has reached the end of the lock-in period.Between 21 to 60 years old (not older than 70 years old at the end of the loan period).Who is eligible to apply for BSN home loans? Choose a bank where you are comfortable applying for a home loan. The bank you have chosen to apply for a home loan with, as different banks offer different loan amounts, terms, etc. The fees include legal fees, stamp duty charges, late payment fees, early settlement fees, and others. You must understand your margin of finance, which is the amount of money that a bank will allow you to borrow for your loan and how much cash/ upfront you must pay for the property. Knowing the lock-in period is crucial because it often occurs when there is a sudden need for full settlement, refinancing, or selling your property. In Malaysia, there are 3 types of loans offered: term loan, semi loan, or flexi loan. You must be aware of the interest rates that the bank will charge you, either fixed interest rates or variable rates. What should I know before applying for a home loan? So, keep in mind that each bank will have a different interest rate, and you should do some research before applying for a home loan. Each loan will be charged an interest rate determined by the loan amount and the repayment period. What is a home loan?Ī home loan is a sum of money that you apply for or borrow from a bank to assist you in purchasing your dream home. As a result, we can see that BSN continues to expand its services to meet the needs of its customers day by day. In 2014, BSN was listed in the Malaysia Book of Records as the Largest Network of Banking Agents and won the Best GreenTech Practice Award for Ejen Bank Berdaftar BSN, highlighting the company’s many years of success in this industry. BSN Home Loan About Bank Simpanan Nasional (BSN)īank Simpanan Nasional is a government-owned bank that took over the former Post Office Savings Bank on 1 December 1974.

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