Open to all Malaysian residents, plan for your children's future with this long term deposit account, with increasing interest rates as the years go by.

Interest Rate
2.5% p.a.
Min. Deposit
Account Statement

Interest Rate

What you earn based on the amount that you have in your account

Min. AmountMax. AmountInterest Rate
RM50No maximum2.5% p.a.


What would make it different?

Fees & Charges

Early Closure Fee
Inactive Account Fee


Minimum Age
  • 12 to 18 years old
Minimum Initial Deposit
Minimum Balance
Who can apply
  • Malaysians
  • Foreigners

More Information

What is BSN CHESS Account?

Rising education costs are parents' nightmare. BSN CHESS Account, also known as BSN Child Higher Education Savings Scheme Account is specifically designed for parents to save for their child's higher education in the future.

Who is eligible to apply for a BSN CHESS Account?

BSN CHESS Account is open to everyone! Be it Malaysian citizens, permanent residents or even foreigner, provided that you have a valid permanent address in Malaysia.

What are the types of account available?

BSN CHESS Account has the following 3 types of account:
Individual account
For children between the age 12 to 18. However, children below the age of 16 shall obtain consent from their parents or guardians prior to application of BSN CHESS Account.
Joint account
This account is open to children above the age of 12, where primary and supplementary account holder must fulfill the age requirement of 18 or above and 18 or below, respectively.
Trust account
Parents or guardians can held BSN CHESS Account in trust for their children who are between the age of 1 day to 18 years old.

What are the features and benefits of BSN CHESS Account?

Rates and Bonuses - BSN CHESS Account offers attractive rates and bonuses. You will be entitle to 2.5% interest irregardless of your deposited amount. Best of all, BSN reward its loyal customers. Account holders are entitle to bonus upon interest up to 30%! The longer you stay with BSN, the more bonus you can earn.

  • Awards - If your children aced their public examinations (UPSR, PMR, SPM & STPM), you can claim for BSN Academic Excellence Award!
  • Protection - Account holders are protected through complimentary Personal Accident Insurance Coverage. The coverage can go up to 3 times of your savings, up to a maximum of RM20,000. Just save up to RM6,700 to enjoy maximum protection!
  • Savings - BSN CHESS Account designed added features to encourage savings for future. Parents must save minimum RM50 per month into CHESS Account, via salary deduction, cash deposits, and other fund transfer facilities. All monthly deposit must be made on the first 7 days of the month or else no interest is credited. Furthermore, you can only withdraw from CHESS Account once a year, with withdrawal amount less than 20% of total balance. To reward regular savers who deposit monthly and do not withdraw, BSN reward them with free Sijil Simpanan Premium every year!

Is there anything else I need to know before I apply for a BSN CHESS Account?

CHESS Account will mature when your child reach 21 years old, irregardless of types of account opened. Upon maturity, you can opt for one of the below 3 options:

  1. Close CHESS Account and withdrawal all balance
  2. Close CHESS Account and transfer all balance to another BSN account
  3. Where no instruction is received, BSN will convert CHESS Account into normal basic savings account where all CHESS Account's benefits shall cease.
Search Icon

Get the financial support you need


We’ll guide you through your application for this financial product