BSN MyRinggit-i Solar Panel is an Islamic financing option published by Bank Simpanan Nasional for eligible homeowners who plan to purchase and install a Solar PV System for residential property. It is positioned as a financing route for sustainable homes and solar energy adoption in Malaysia.
Based on BSN’s official page, the purchase and installation of the Solar PV System must be from a Solar PV Panel Provider appointed by BSN only. The page lists ERS Energy Sdn. Bhd., SOLS Energy Sdn. Bhd. and ITRAMAS Corporation Sdn Bhd as BSN Solar PV Panel Provider Partners.
Before choosing any financing route, homeowners should still compare the solar quotation, estimated TNB savings, system size, roof suitability, warranty and long-term ROI. A financing package can reduce upfront cash pressure, but the solar system itself must still make practical financial sense.
| Bank | Bank Simpanan Nasional (BSN) |
| Product | BSN MyRinggit-i (Solar Panel). |
| Financing Type | Islamic financing based on Tawarruq concept. |
| Purpose | Purchase and installation of Solar PV System for eligible residential properties. |
| Financing Amount | Minimum RM10,000 and maximum RM150,000, based on BSN’s official page. |
| Financing Tenure | Minimum 1 year and maximum 10 years, subject to BSN’s latest terms and approval. |
| Profit Rate Reference | SBR + 2.62% to SBR + 3.12%, based on BSN’s official page. Profit rate without Takaful is stated as an additional 0.50% from the above profit rate. |
| Citizenship | Malaysia citizen. |
| Age Reference | 18 years old to 55 / 60 years old, subject to retirement age at the end of the financing tenure. |
| Property Type | Residential properties, other than residential properties with strata title status. |
| Provider Requirement | The Solar PV System must be purchased and installed through a Solar PV Panel Provider appointed by BSN only. |
| Provider Partners Listed | ERS Energy Sdn. Bhd., SOLS Energy Sdn. Bhd. and ITRAMAS Corporation Sdn Bhd. |
| NRIC | Copy of NRIC, both sides. |
| Employer Confirmation | Confirmation letter from employer. |
| Income Document | Latest salary slip. |
| Solar Quotation | Quotation of solar panel pricing and installation cost addressed to the applicant, based on the site visit by the Solar PV Panel Provider. |
BSN’s official page outlines a step-by-step process. Homeowners first select a preferred BSN Solar PV Panel Provider Partner, confirm consultation and site visit, and receive a quotation of solar panel pricing and installation cost after the site visit.
With the quotation and supporting documents, the homeowner may then visit a BSN branch to submit the financing application. After approval and installation, payment is made to the Solar PV Panel Provider’s account based on the invoice.
BSN states that the Shariah concept for this financing is Tawarruq. In general, Tawarruq consists of two sale and purchase contracts, where an asset is first sold on a deferred basis and then sold to a third party on a cash and spot basis.
Homeowners who prefer Islamic financing should review the latest product disclosure sheet, terms and conditions, fees, charges and payment obligations directly with BSN before applying.
Before applying for BSN MyRinggit-i Solar Panel, homeowners should compare the estimated monthly instalment with expected TNB savings. A solar financing package may help reduce upfront payment pressure, but the quotation amount, system size, panel brand, inverter brand, roof suitability, warranty and installer support remain important.
The financing amount of up to RM150,000 may cover many residential solar packages, but homeowners should still avoid over-sizing the system purely because financing is available. The solar package should match actual electricity usage, roof space, shading condition and expected long-term return.
Solar100 can help homeowners compare solar quotation, estimated TNB savings, ROI and installer options. Financing eligibility, profit rate, approval, required documents and payment obligations should be checked directly with BSN.
BSN MyRinggit-i Solar Panel may be relevant for homeowners who prefer an Islamic financing route and are comfortable using BSN-appointed Solar PV Panel Provider Partners. The practical decision should be based on both financing suitability and the quality of the solar quotation.
A good comparison should include monthly TNB bill, expected system size, roof condition, solar panel and inverter brands, warranty coverage, installation workmanship, after-sales support and estimated payback period.
BSN MyRinggit-i Solar Panel is an Islamic financing option by BSN for the purchase and installation of a Solar PV System for eligible residential properties.
Based on BSN’s official page, the financing amount is from RM10,000 to RM150,000, subject to BSN’s latest eligibility, assessment and approval.
BSN’s official page states a financing tenure from 1 year to 10 years, subject to the latest terms and approval.
BSN’s official page lists ERS Energy Sdn. Bhd., SOLS Energy Sdn. Bhd. and ITRAMAS Corporation Sdn Bhd as Solar PV Panel Provider Partners.
BSN’s official page states that the purchase and installation of the Solar PV System must be from a Solar PV Panel Provider appointed by BSN only.
The official page lists copy of NRIC, confirmation letter from employer and latest salary slip. Homeowners should check with BSN for the latest full document requirements before applying.
Yes. Before choosing any solar financing option, homeowners should compare estimated monthly instalment with expected TNB savings, quotation amount, system size, roof suitability, warranty and long-term ROI.
Solar100 can help homeowners compare solar quotation, estimated TNB savings, ROI and installer options. Financing application, eligibility, approval and profit rate confirmation should be handled directly with BSN.
This page is prepared as a homeowner reference based on publicly available information. Solar100 helps homeowners compare solar quotation, estimated TNB savings, ROI and installer options. Financing eligibility, profit rate, approval, fees, charges, required documents, provider requirements and final terms are subject to BSN’s latest official information. Homeowners should contact BSN directly before applying for BSN MyRinggit-i Solar Panel or making any financing decision.
Malaysia
