Special loan rates in BSN campaign

KUALA LUMPUR: Bank Simpanan Nasional (BSN) is offering a special rate of 5.99 percent for residential property loans under its “Islamic Month” campaign from Aug 1 to Oct 31 this year.

Its deputy general manager of consumer banking and business development, Norazian Ahmad, said the campaign was aimed at encouraging the public to consider and understand the advantages of Islamic banking.

“BSN offers various promotions under Islamic banking products, including Giro-I savings account, Islamic Al-Bai’ Bithaman Ajil home loan, personal loan scheme and Al-Aiman credit card,” she told Bernama in a recent interview.

During the campaign, the first 50,000 customers to take up the Giro-I savings account will be given the Matrix-i card free instead of paying the RM8 fee and the minimum amount for opening an account has been reduced to RM10 from RM50.

The card can also be used like a credit card.

BSN is also offering the Al-Aiman credit card based on Syariah principles with the finance charge as low as one percent monthly for government staff.

The bank is imposing competitive finance charges from 5.05 percent for loans of RM5,000 minimum for repayment period from one to 10 years.

Norazian said BSN was studying a proposal to extend the repayment period to 15 years and an announcement would be made soon.