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How to apply for Sukuk Simpanan Rakyat (SSR)

The application for Sukuk Simpanan Rakyat (SSR) is quite simple. The whole application process took me less than 30 minutes. First, what you need to do is to print out the application form or you can get the form from any of the agent bank. It is a pretty straight forward form which requires you to fill in your information such as name, IC, address, tel and etc.

If you choose to pay in cash, you will need to open an account with the agent bank (where you apply for the SSR). If you choose to withdraw from your account, all you need to do is to fill in your bank account no. I ticked the ‘debit account’ and filled in my bank account no but the customer service officer told me they can’t withdraw from the ‘debit account’(not sure why). So the only option left is the ‘Cash’, luckily I brought my passbook along therefore I have no problem in withdrawing my money from the account.

The profit for the SSR is 5% per annum and we will be paid at the end of each quarter(5% divided by 4). Our money (including the last profit payment) will be automatically credited into our account maintained with the agent bank upon maturity (on 14 May 2012). You are also allowed to request for an early redemption (but not earlier than the first profit payment) and the profit payments will be apportioned based on the number of days held.

You will get an acknowledge slip from the bank officer to prove that you’ve submitted your application. Although the SSR is on a first come first serve basis, the bank officer told me normally our application will not be rejected.

I feel that saving in SSR is way better than in FD, so do consider this.

Tags: Bank, FD, Savings, SSR, Sukuk Simpanan Rakyat