Who can apply for BSN Term Deposit-i?
Any individuals aged 15 years old and above, Malaysian citizens or non-residents with a permanent address in Malaysia, can apply for BSN Term Deposit-i.
This fixed deposit account is also open to non-individuals.
All you need to prepare when applying for this fixed deposit account is a minimum deposit of RM1,000 for 1 month, or RM500 for 3 months and above.
How high is the profit rate?
The profit rate is based on the amount of your fixed deposit and the period of placement.
Can I withdraw my money before the tenure is completed?
Effective from January 2019, when you withdraw the money in your fixed deposit account before its tenure is completed, you will no longer receive profit payment on the withdrawn amount.
In case the interest rate has been credited into your account prior to cash withdrawal, the bank will deduct some portion of your savings account to recover it.
It is highly encouraged that you keep the savings until they reach maturity. The same terms and conditions apply when you renew your fixed deposit account.
Does BSN Term Deposit-i have an auto-renewal feature?
BSN Term Deposit-i comes with an auto-renewal feature for up to 7 years.
Your fixed deposit account will continue to invest in the same tenure and at the current prevailing rate at the time of renewal.
Is my money in this fixed deposit account safe?
Yes, it is. This term deposit account is guaranteed by the Malaysian government and PIDM for up to RM250,000 per person.
