You are on page 1of 4

PRODUCT DISCLOSURE SHEET

BANK SIMPANAN NASIONAL


(Read this Product Disclosure Sheet before you
decide to take out the BSN AN NAIM Home
Financing-i Packages Floating Rates.
Be sure to also read the terms and conditions in the
letter of offer.
Seek clarification from Bank Simpanan Nasional if
you do not understand any part of this document or
the general terms).

BSN AN NAIM Home Financing-i


Packages- Floating Rates
Date :
(To be completed in by Sales / Branch Personnel)

1. What is this product about?


This facility is offered for financing a purchase of property either completed/under construction, refinancing or sub-sale.
The selling price of the property shall be calculated at a Contracted Profit Rate (CPR) and repayable by deferred
payment. However you are eligible to enjoy rebate (Ibra).
The monthly installment of this facility will fluctuate and vary depending on the Effective Profit Rate (EPR) however the
instalment shall not exceed the selling price that has been agreed upon upfront.
Ibra will be given upon full settlement.
2. What is the Shariah concept applicable?
The Shariah concept applicable is Bai Bithaman Ajil (BBA).
This refers to the sale of goods on deferred payment basis or by periodic installments at a price that is agreed by both
parties. The sale price includes a profit margin agreed upon by the parties.
3. What do I get from this product?
The maximum facility is based on assessment of your financial standing provided that it matches with your eligibility or
repayment capability.
Profit rate
Effective Profit Rate (EPR)
No

Financing
Amount

Tenure

RM 100,000
and
below

Whole Tenure

> RM 100,000

Year 1 - 2

Under Construction

Zero Moving
Cost (ZMC)

Non Zero Moving


Cost (NZMC)

Zero Moving
Cost (ZMC)

Non Zero Moving


Cost (NZMC)

NIL

BR + 2.85%

NIL

BR + 2.85%

BR + 0.40%

BR + 0.30%

Thereafter

BR + 0.65%

BR + 0.55%

Year 1 - 2

BR + 0.30%

BR + 0.30%

BR + 0.60%

BR + 0.45%

until
< RM 300,000

Completed Property

BR + 0.65%

RM 300,000
and above

BR +0.60%
Thereafter

BR + 0.55%

BR-+ 0.45%

Minimum Financing tenure is 5 years and maximum 35 years (or age 65 years or age 70 years*, whichever is earlier).
Note: * Terms and conditions apply.
Your Tenure
:
years
Margin of financing

Total selling price

: RM

Contracted Profit Rate (CPR)

Current BSN Base Rate (BR) is 4.00%* (*subject to change)

4. What are my obligations?

Your monthly installments :


Year [
]-[
]
: RM [
] if any
Year [
]-[
]
: RM [
] if any
Thereafter
: RM [
]
Total repayment amount at the end of [
] years is RM [
]
If applicable , rebate may be granted to the customer for the difference between the Contracted Profit Rate (CPR) and
the Effective Profit Rate (EPR).

EPR Rate
Monthly instalment

Today (BR= 4.00%)


RM

Total profit at the end of


[
] years

RM

Total repayment amount at


the end of [
] years

RM

If BR goes up 1%

If BR goes 2%

Note: For property under constructions, monthly installment shall be subjected to the actual amount released to the
developer.
5. What other charges do I have to pay?
a)

Stamp Duties

As per the Stamp Act 1949 (Revised 1989)

b)

Disbursement Fee

c)

Legal Fees Pertaining to


Securities Documentations

Include but not limited to stamping fees, registration of charge, lodgement


and withdrawal of caveats and other related charges)
All legal fees and incidental expenses in connection with the preparation of
the security documents for Banking Facility.

d)

Valuation Fee

Valuer fees for preparation of formal valuation report (applicable to


completed property only)

e)

Processing Fees

Waived

6. What if I fail to fulfil my obligations?

Late Payment Charges which comprise of Tawidh (compensation) and Gharamah (penalty) will be imposed. Gharamah
shall be channeled by the Bank to the approved charitable organizations.
Within the Facility Period :
Overdue instalment(s) x Average Financing Rate (AFR*) x No. of overdue day(s)
365
After the Facility Period :
Outstanding principal x Average Financing Rate (AFR*) x No. of overdue day(s)
365
Note :
*AFR (Average Financing Rate) refers to the average rate as determined by the Bank and will subject to change from
time to time.

The Bank has the right to set-off any credit balance in your account(s) maintained with the Bank against any
outstanding balance in this financing account which the Bank will notify you in 7 calendar days in advance.

Legal action will be taken if you fail to respond to reminder notices and the legal cost will be borne by you.

Legal action against you may affect your credit rating leading to credit being more difficult or expensive to you.

7. What if I fully settle the financing during the lock in period/maturity date?

The Bank shall grant Ibra to you for early settlement in the following events :
i. Early settlement or early redemption of the Facility; or
ii. Settlement of the original financing contract due to financing restructuring exercise; or
iii. Settlement by Customer in the case of default; or
iv. Settlement by Customer in the event of termination or cancellation of financing before the maturity date.

Zero Moving Cost (ZMC) package is subject to lock-in period of 3 years or 5 years subject to financing package. In the
event the early settlement is made during the lock-in period, the early settlement charges shall comprises of the legal
costs and other expenses that were paid by the Bank under ZMC package would be levied.

The applicable formula for Ibra = Deferred Profit - Early Settlement Charges (if any).

8. Do I need any Takaful coverage?

Mortgage reducing term takaful (MRTT) is required to protect your interest in the event of death or permanent disability
during the financing tenure.
Houseowners / fire / Takaful Rumahku - Long Term (TRLT), if necessary.

9. What are the major risks?

Should the profit rates go up?


The Effective Profit Rate (EPR) might change according to changes in the Base Rate (BR) (if any). Your monthly
installment may change accordingly based on the movement of BFR. However the total amount to be collected shall not
exceed the selling price.

What if your financial circumstances change?


If you have problems meeting your financing obligations, while you are in service or after retirement, please contact us
early to discuss repayment alternatives.
If your financing tenure exceed your retirement age, you can reduce your monthly instalment by exercising partial
redemption using your EPF or saving account. Therefore, your monthly instalment can be reduced.

10. What do I need to do if there are changes to my contact details?

It is important that you inform us of any changes in your contact details to ensure that all correspondences reach you in
a timely manner.

11. Where can I get assistance and redress?

If you have difficulties in making monthly payments, you should contact us earliest possible to discuss payment
alternatives.You may contact us at:
Bank Simpanan Nasional
Address :____________________
____________________
____________________
Tel
:____________________
Fax
:____________________
E-mail
:____________________
(To be filled in by Sales / Branch Personnel)

Alternatively, you may seek the services of Agensi Kaunseling dan Pengurusan Kredit (AKPK), an agency established by
Bank Negara Malaysia to provide free services on money management, credit counselling and debt restructuring for
individuals. You can contact AKPK at :
Address : Tingkat 8, Maju Junction Mall,
1001, Jalan Sultan Ismail,
50250 Kuala Lumpur.
Tel
:1800 88 2575
E-mail : enquiry@akpk.org.my

If you wish to complaint on the products or services provided by us, you may contact us at :
Address : Customer Service Center
Bank Simpanan Nasional,.
Tel
:1300 88 1900 / 603-2613 1900 (Overseas)
Fax
: 03-2613 1888

E-mail

: servicemanager@bsn.com.my

If your query or complaint is not satisfactorily resolved by us, you may contact Bank Negara Malaysia LINK or TELELINK
at :
Address : Block D, Bank Negara Malaysia,
Jalan Dato Onn.
50480 Kuala Lumpur.
Tel
:1300 88 5465
Fax
: 03-2174 1515
E-mail : bnmtelelink@bnm.gov.my

12. Where can I get further information?


Should you require additional information on Islamic house financing, please refer to the bankinginfo booklet on House
Financing-i, available at all our branches and the www.bankinginfo.com.my website.
13. Other home financing packages available

Skim Khas Pembiayaan Rumah Pekerja Estet (SKRE - Islamic)


Hereby I have read and understand the terms and conditions above.

Signatures customer

IMPORTANT NOTE: YOUR HOUSE MAY BE FORECLOSED IF YOU DO NOT KEEP


UP REPAYMENTS ON YOUR HOME FINANCING-i.

The information provided in this Product Disclosure Sheet is valid as at or until ___________________