What is the BSN SEDAR Account?
BSN SEDAR Account helps you to become a disciplined saver! Upon opening the BSN SEDAR Account, you have to commit a minimum monthly deposit of RM50, and earn attractive returns at the same time.
Who is eligible to apply for a BSN SEDAR Account?
Individuals who are 18 years old and above can open a personal or joint BSN SEDAR Account. Also, individuals who already own a BSN SEDAR Account can open yet another SEDAR Account!
What are the features of BSN SEDAR Account?
BSN SEDAR Account operates as a 24-month contract where customers deposit a minimum of RM50 every month until the contract matures. During this 24-months period, you are not allowed to withdraw from the SEDAR Account.
Another important reminder is that, you have to deposit at least RM50 into SEDAR Account before 8th of every month, or else you will not be entitled to any interest for that particular month.
What are the benefits of BSN SEDAR Account?
- Savings made easier - Saving into your BSN SEDAR Account can be done via Standing Instruction or OTC. Alternatively, if you want to skip the hassle or make sure that you save on time, you can always opt for automatic monthly salary deductions.
- Interest rates bonuses - All BSN SEDAR Account will be entitled to 2.5% p.a. interest, regardless of the account balance. The best part is, you will receive bonus interest on top of your total interest earned for the year - that's 15% for the first year, and a maximum of 30% for subsequent years!
Is there anything else I need to know before I apply for a BSN SEDAR Account?
At the end of the contract, you are not allowed to continue your savings in your SEDAR Account. If you wish to enjoy SEDAR Account's benefits, you may proceed to apply for a new SEDAR Account. At any time when you wish to terminate the contract and close your SEDAR Account, you will be charged RM5.