Wednesday, 21 October 2020,   03 Rabiulawal 1442H

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Home Personal Banking > Deposits BSN CHESS 


Give your child a brighter future with BSN CHESS. In addition to savings, the account comes complete with achievement awards, free Sijil Simpanan Premium and free insurance coverage!

Features & Benefits

»  Attractive rates and bonus.
»  Academic Excellence Award for UPSR, PMR, SPM, STPM.
»  Account Holders who regularly credit their savings each month and do not withdraw from their account is entitled for 1 FREE unit of Sijil Simpanan Premium, for each year of savings.
»  CHESS Account holders are entitled for a free Personal Accident Insurance Coverage, up to three (3) times their savings amount or a maximum of RM20,000, (whichever is lower).
»  Monthly savings must be credited to CHESS Account within the first seven (7) days of each month to be entitled for the interest rate for the said month. Each savings will receive an interest rate that is calculated on the minimum monthly balance. Interests will be credited to holder's account twice a year in January and July respectively. 

Types of Account

Individual Account Aged 12 - 18 years. 
(Students between the age of 12-16 should obtain consent for parents/Legal Guardian).
Joint Account Account can be opened by individuals aged 12 and above, where the Primary Account Holder should be 18 years old and above Supplementary Account holder should not be more than 18 years old.
Trust Account Parents / Legal Guardian as the Trust Holder for the Trustee. The child must be aged between 1 day and 18 years.


Features of CHESS AccountDetails
Account Statement Twice a year (January and July).
Account Card Issued to Account Holder.
Savings Minimum savings of RM50 every month, continuously up to 21 years or until the Account Holder / child attains 21 years old.
Mode of Savings Via BSN GIRO Standing Instruction (Auto Debit), Salary Deduction, Cash / Cheque deposits at BSN Counter.
Withdrawal 20% of the savings amount balance in the beginning of the year. Only once a year
Maturity of CHESS Account

Individual Account - Until the Account Holder attains 21 years old.

Joint Account - Until the child attains 21 years old.

Trust Account - Until the child attains 21 years old.

Close and withdraw your savings balance; or 

Close and transfer your balance to another BSN account; or 

If there is no instruction, your CHESS Account will be converted to the basic account and all benefits will cease.
Dormant CHESS Account Dormant BSN CHESS Accounts for 7 years will be closed in accordance to Unclaimed Money Act 1965.



»  BSN CHESS is open to all Malaysian citizens, permanent residents and foreigners with a permanent address in Malaysia.
»  Monthly savings must be credited to CHESS Account within the first seven (7) days of each month to be entitled to the interest rate of the said month.
»  Interest rates will be calculated on the minimum monthly balance and credited to holder's account twice a year, in January and July respectively
»  BSN reserves the right to amend any Terms & Conditions from time to time.

View all banking Rates & Charges.