Here’s How BSN Gives Back To The Communities That Need It The Most
BSN helps small businesses through micro-financing.
By Jeremy Ng — 30 Dec 2019, 02:15 PM
Ever since being established in 1974, Bank Simpanan Nasional (BSN) has been providing its services to Malaysians - especially to un-served and under-served communities
BSN was incorporated on 1 December 1974, with a mission to help Malaysians save, invest, and make smart financial decisions for better quality of life. What sets BSN apart from other financial institutions is their commitment of having "No Malaysian Left Behind".
That's why when BSN first started, they provided banking services to small savers, reaching communities in rural and remote areas. This is where BSN taught school children to start saving from young. BSN then reached out to communities in un-served areas by providing them with convenient banking access.
One way that BSN helps these communities is through agent
banks - that provide BSN's services in rural areas
Previously, communities in less urban areas would have to travel all the way to the nearest town centre if they needed to do their banking. However, thanks to BSN's 4,276 agent banks, more Malaysians have convenient access to banking services.
According to BSN Chief Executive Datuk Yunos Abd Ghani, the cool thing about these agent banks is that they go beyond basic banking service provision and money deposit services. In fact, BSN agent banks are the only ones where Malaysians can open a bank account without filling any forms, just using their MyKad.
BSN also lends a helping hand to entrepreneurs and small businesses with their micro-financing services
BSN partnering with CGC to provide RM50 million worth of financing to micro entreprises.
Image via Focus MalaysiaThanks to BSN's micro-financing services, many Malaysians have been able to kickstart, expand, and grow their businesses successfully. For instance, one customer who used to sell car spare parts out of his van now owns a full-fledged car accessories and spare parts shop - that's just one of the many success stories.
The main criteria needed to be eligible for micro-financing is having an operational business for at least two years and the capacity to repay. These financing services can range from RM5,000 to RM50,000.
Besides this, what every BSN Sijil Simpanan Premium (SSP) holder looks forward to is their amazing monthly giveaways, ranging from RM2 million cash to a brand new BMW!
BSN SSP is the bank's flagship savings account, whereby Malaysians can save and stand the chance to win lucrative prizes each month. From attractive cash prizes, to luxury cars and brand new iPhones, these rewards can literally change someone's life!
Ultimately, BSN has been fulfilling the mandate of helping Malaysians save and make smart financial decisions for 45 years
And they're not gonna stop any time soon!
