The advent of Savings bank service in Malaysia dates back to the late 19th century. The first banks, namely the Perak and the Selangor Savings Bank were started in 1888 and 1893 respectively and were administered by the respective State Treasuries until they were taken over by the Postal Department. In 1907 the Perak and Selangor Savings Banks were dissolved and brought under the Federated Malay States Post Office Savings Banks which also provided services in the states of Negeri Sembilan and Pahang. It had then 3,320 depositors with just over RM340,000 standing to their credit.
Separate Savings Bank services under the Straits Settlement Post Office Savings Bank were in existence in Penang, Malacca and Singapore as early as 1902 while the Unfederated Malay States had their own Post Office Savings Banks in the years prior to the Second World War. For more visit mybsn.com.my
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