BSN SSP is based on the following Shariah concepts, depending on the placement type made:

Shariah concept of Mudarabah

Mudarabah is a contract between a capital provider (Customer or third party, as the case may be) and an entrepreneur (Bank) under which the Customer or third party (as the case may be) provides capital to be managed by the Bank and any profit generated from the capital is shared between the Customer and the Bank according to a mutually agreed Profit Sharing Ratio (PSR) whilst financial losses are borne by the Customer provided that such losses are not due to the Bank’s misconduct (ta`addi), negligence (taqsir) or breach of specified terms (mukhalafah al-shurut).

Shariah concept of Tawarruq (Commodity Murabahah)

Tawarruq consists of two sale and purchase contracts. The first involves the sale of an asset by a seller to a purchaser on a deferred basis. Subsequently, the purchaser of the first sale will sell the same asset to a third party on a cash and spot basis.

• Open to Malaysian Citizens, permanent residents and Non-Malaysian Citizen with permanent address in Malaysia.
• Applicable for Individuals aged 12 years old and above.
• Required document for over the counter transaction:
  • Identification document
• Eligible account holders must have a BSN savings or current account for the purpose of profit crediting.
• Deposit savings & shariah concept applicable:

NOTES:

• ¹Depending on the BSN SSP draw categories and eligibilities. View BSN SSP - Draw & Prizes.
• ²View All banking rates for further information.
• ³BSN SSP savings under Tawarruq, the automatic renewal comprises principal plus profit for a similar tenure, subject to terms & conditions.

View the Frequent Asked Questions (FAQ).

View all banking rates.

View all fees & charges.

Terms & conditions apply.

View the Product Disclosure Sheet.

Profit calculation for SSP (Mudarabah):

Scenario: Profit crediting after 1 year - Savings at an indicative rate of 0.11% p.a. Saved in January on a non-leap year with profit crediting in January of the following year.

16 January 2025: Saving date of RM100,000
15 January 2026: Profit payment

Formula: Principal Deposit Amount x Indicative Rate x (Tenure in days / 365 or 366 days) For BSN SSP (Mudarabah), profit accrual is monthly based on the minimum balance in the respective month and paid annually in January.

Daily profit accrued as follows:
RM100,000 x 0.11% x (1/365) = RM0.30

For the 1 month, total profit accrued is as follows:
RM0.30 x 31 days = RM9.30

For the full year profit accrued as follows:
RM0.30 x 365 days = RM109.50

Therefore, RM100 (equivalent to 10 units) will be credited to the customer’s BSN SSP, and the remaining RM9.50 will be credited to the savings or current account maintained with BSN.

Profit calculation for BSN SSP (Tawarruq):

Scenario: Profit crediting at maturity - 12 month BSN SSP (Tawarruq) savings @2.50% p.a. placed in January on a non-leap year with profit crediting at maturity.

12 January 2025: Savings date of RM100,000
12 January 2026: Maturity

Formula: Principal Deposit Amount x Indicative Rate x (Tenure in days / 365 or 366 days) For BSN SSP (Tawarruq), profit accrual is daily and paid at maturity.

Daily profit accrued as follows:
RM100,000 x 2.50% x (1/365) = RM6.85

For the 12 month placement, total profit is as follows:
RM6.85 x 365 days = RM2,500.25

Hence, at maturity the customer receives principal plus profit as follows:
Principal + Profit = RM100,000 + RM2,500.25 = RM102,500.25

Therefore, RM2,500 (equivalent to 250 units) will be credited to the customer’s BSN SSP (Tawarruq) upon maturity and will be automatically renewed, and the remaining RM0.25 will be credited to the savings or current account maintained with BSN.

Note: Illustration figures are rounded to the nearest cent.

Disclaimer:
This illustration is intended as a guide, and all information contained herein is for estimation and illustration purposes only. BSN shall not be held responsible or liable for any losses that may arise from decisions that you make based on the calculator usage.