Besides being prominent for being the first and the longest-running bank in Malaysia, BSN encourages Malaysians to have good saving and/ or investment habits as their top goals. BSN offers conventional and Islamic banking and other financial services such as wealth management, loans, and deposits.
Fixed deposit (FD) is a type of short-term investment where you can put your money and agree not to take it out for a set length. When the terms are over, investors will get higher interest rates than they would on regular savings accounts! The government insures it, so there is not much risk involved in this choice.
You should know the interest rates upon maturity to ensure you gain a great amount of return. Interest rates differ from bank to bank and tenure to tenure.
Different banks offer different tenures, ranging from 1 month to a few years. Choose the one that suits your needs and financial goals.
It is crucial to identify all costs incurred to avoid spending more than expected.
You should be informed of the penalty amount to know what to expect if you need to withdraw the money before maturity.
Being aware of the customer service and the reputation of the bank you are planning to apply your fixed deposit account is an important step! Do thorough research before deciding on a bank.
BSN offers 1 type of fixed deposit, which is BSN Term Deposit. The Islamic equivalent is also available here.
You are eligible to apply for BSN Term Deposit if you are:
It is applicable for individual, joint, and trust accounts.
Among other reasons, you should choose BSN Term Deposit because:
Your identification card is the only document needed to apply for BSN Term Deposit.
1 to 60 months.
A minimum deposit of RM5,000 is needed for optional monthly interest crediting.
*Non-individual minimum amount
The interest rates depend on your tenure (**1.5% – 2.1% p.a.). To learn more about the interest rates, click here.
**As of 25 March 2022
If you place your deposit or renew after 1 January 2019, no interest will be paid to you.
You can contact BSN through these channels:
It stands for per annum or each year.
The amount of return earned by depositors.
The amount of time the money is locked in a fixed deposit account.
The amount of money locked in a fixed deposit account to earn interest.
The additional charge from the bank for withdrawals before maturity (or premature withdrawal).
The end of a set time when an investment becomes due, and the principal and interest are repaid.
The money withdrawal in a fixed deposit account before maturity.
The withdrawal of part of the amount in a fixed deposit account before maturity.