| 1. | Who is eligible for the BSM? |
| | - Malaysian citizens who are 56 years old and above
- Malaysian citizens who are retired on medical grounds regardless of age.
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| 2. | When is the offer period for the BSM? |
| | - The BSM is offered to the public from 18 February to 17 March 2009 and from 4 May to 3 June 2009 for the second series.
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| 3. | What is the basis of the allocation of the BSM? |
| | - The allocation of BSM to the applicant is based on "first come first basis" and is subject to such terms and conditions as specified by Bank Negara Malaysia.
- The payment for the BSM applied on the application date does not imply that the applicant would be successful in the allocation of the BSM.
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| 4. | What is the frequency of issuance for the BSM? |
| | - There will be two issuances for the BSM; i.e. 18 March 2009 and 4 June 2009.
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| 5. | What is the tenure of the BSM? |
| | - The BSM will have a maturity of three years.
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| 6. | What will be the minimum and maximum amount of subscription? |
| | - The minimum amount of holding per BSM holder is RM1,000 per application and in multiples of RM100, e.g. RM1,100, RM1,200, etc.
- The maximum aggregate holding per BSM holder for the two series is RM50,000 at any one point of time for the duration of the BSM, i.e. 2009 to 2012.
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| 7. | Why is the maximum holding per BSM holder fixed at RM50,000 instead of RM100,000 as in the Bon Simpanan Merdeka 2004 and 2005? |
| | - The maximum holding of RM50,000 per BSM holder is to allow a wider distribution of the BSM, so that more citizens can benefit from it.
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| 8. | Would profit be paid on applicants' investments from the date of application to the date of issuance of BSM? |
| | - The agent banks will pay the BSM holder the prevailing savings account rate for the period between the date of application and the date of issuance.
- For example, if you apply for the BSM on 18 February 2009, you will receive the savings account rate from 18 February to 17 March 2009.
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| 9. | What is the profit for the BSM? |
| | - The profit for the BSM is 5% p.a. This means the profit is approximately 0.42% (5% divided by 12), of the holding amount at the end of each month.
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| 10. | How often will profit be paid to the BSM holder? |
| | - Profit will be paid on a monthly basis.
- The profit from the BSM will be credited directly into the BSM holders' deposit accounts maintained with agent banks.
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| 11. | Will the returns on BSM be subject to tax? |
| | - No, returns on the BSM are exempted from tax.
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| 12. | Can the BSM holder exercise early and partial redemption of the BSM? |
| | - The BSM can be redeemed early at the nominal value and including the profit amount due before the maturity date but after the first profit payment.
- The profit payment will be apportioned based on the number of days the BSM is held.
- Minimum redemption amount allowed is RM100.
- BSM holder may redeem his BSM in multiples of RM100.
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| 13. | When and how can BSM holder redeem the BSM at maturity? |
| | - Redemption proceeds (including the last profit payment) will automatically be paid by crediting directly into the BSM holder's account maintained with his agent bank at maturity.
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| 14. | Is the BSM transferable? |
| | - The BSM is non-negotiable, non-transferable and non-assignable.
- In the event of the demise of a BSM holder, the BSM held by the deceased BSM holder shall form part of his estate.
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| 15. | What documentation is required when applying for subscription of the BSM? |
| | - An original or a certified photocopy of the Identity Card (I.C.).
- For those who retired on medical grounds, original and / or certified photocopies of supporting documents from the relevant parties.
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| 16. | Where can the BSM be subscribed? |
| | - The BSM can be subscribed at all commercial banks, including Islamic banks, Bank Kerjasama Rakyat Malaysia Berhad, Bank Simpanan Nasional and Bank Pertanian Malaysia Berhad.
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