BSN Fixed Deposit

About BSN

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.

What is a fixed deposit?

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.

What should I know before applying for fixed deposits?

  • Interest rates

    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.

  • Tenure

    Different banks offer different tenures, ranging from 1 month to a few years. Choose the one that suits your needs and financial goals.

  • Hidden fees

    It is crucial to identify all costs incurred to avoid spending more than expected.

  • Penalty

    You should be informed of the penalty amount to know what to expect if you need to withdraw the money before maturity.

  • Banks

    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.

What are the types of fixed deposits offered by BSN?

BSN offers 1 type of fixed deposit, which is BSN Term Deposit. The Islamic equivalent is also available here.

Who can apply for BSN Term Deposit?

You are eligible to apply for BSN Term Deposit if you are:

  • At least 7 years old, and
  • A Malaysian or a permanent resident of Malaysia, and/ or
  • A business owner operating in Malaysia

It is applicable for individual, joint, and trust accounts.

Why should I choose BSN Term Deposit?

Among other reasons, you should choose BSN Term Deposit because:

  • Low minimum deposit (from RM500)
  • Flexible tenure (1 to 60 months)
  • Protection by PIDM (up to RM250,000)
  • Option to have your interest credited monthly
  • Available for individual, joint, and trust account

What are the documents required to apply for BSN Term Deposit?

Your identification card is the only document needed to apply for BSN Term Deposit.

What is the tenure of BSN Term Deposit?

1 to 60 months.

What is the minimum amount to deposit into BSN Term Deposit?

  • 1 month: RM1,000
  • 3 months and above: RM500 / *RM1,000

A minimum deposit of RM5,000 is needed for optional monthly interest crediting.

*Non-individual minimum amount

What are the fees for BSN Term Deposit?

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

What happens if I withdraw my money before maturity?

If you place your deposit or renew after 1 January 2019, no interest will be paid to you.

How do I contact BSN for further information about BSN Term Deposit?

You can contact BSN through these channels:

  • Phone: 1-300-88-1900
  • Online form: Visit here
  • Email:
  • Branch visit: Click here to locate the nearest branch

What are the common terms of fixed deposit?

  • “p.a.”

    It stands for per annum or each year.

  • “Interest rate”

    The amount of return earned by depositors.

  • “Tenure”

    The amount of time the money is locked in a fixed deposit account.

  • “Deposit”

    The amount of money locked in a fixed deposit account to earn interest.

  • “Penalty”

    The additional charge from the bank for withdrawals before maturity (or premature withdrawal).

  • “Maturity”

    The end of a set time when an investment becomes due, and the principal and interest are repaid.

  • “Premature withdrawal”

    The money withdrawal in a fixed deposit account before maturity.

  • “Partial withdrawal”

    The withdrawal of part of the amount in a fixed deposit account before maturity.