I just noticed BSN has got this new product called BSN SSP Platinum. It's a limited promotion savings campaign until end of 2023. This is an enhanced version of the current BSN SSP (Sijil Simpanan Premium).
The highest profit rate is 2.4% but need to put in minimum of RM50,000. The minimum amount of deposit on the other hand is RM3,000. BSN SSP product had always been having lower profit rate than bank fixed deposits. Partly because there are monthly million ringgit worth lucky draws for BSN SSP depositors.
Note that the normal BSN SSP needs only a minimum RM10 to deposit can get lower interest rates.
BSN SSP Platinum can be transacted on BSN electronic banking page. The standard monthly SSP lucky draw applies to SSP Platinum also.
BSN SSP results are announced via Facebook live streaming on Bank Simpanan's page.
The strategy that I am currently using for SSP is to put all my spare cash under RM100 in other banks into BSN SSP. I treat BSN SSP on the lowest priority of my savings and investments, only put in the spare cash after savings, investments. This way my money is working hard for me and I might have a chance to win in the lucky draw. I would say winning would be a bonus but is at the lowest priority of my investments. There is no strategy for winning the lucky draws except maybe to spread out the purchases to that the SSP numbers purchased is more spread out instead of 1 sequence of numbers (1 single purchase).
I previously wrote about the BSN SSPN here.
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