Bank Rakyat. The staff said that the starting date will be according to today's date, but I will check the cert on Tuesday to make sure it is correct.

The only proof I have for the FD deposit is a normal deposit slip stating the amount, FD period and date.

Non commercial banks like Bank Rakyat doesn't follow the norm... Understandable. BTW, This should be in the FD thread.

my budget is 20k
can i go for as1m

AS1M should be under PND funds, no more FD:
http://forum.lowyat.net/topic/2256158

The return (30k IAB to get rm300cashback) is 4% pa (3.98% to be exact) +1.5% (supersalary casa ) = 5.5% pa.
Assumed 366 days and 92 days for 3 months (May - July). Also neglected 0% for the first rm1000 in supersalary casa.

This post has been edited by ascend: May 4 2012, 09:17 PM

Which SCB CASA enjoy the best interest? Is it the SuperSalary acc?
Then can ask my wife, mother in law to open new account to enjoy the benefits of this promo?

After going thru SCB website looks like SuperSalary gives the best interest.

But also found this:
General
9. CASA of Eligible Customers who are entitled to CashBack Rewards or Contest Prizes will not be eligible for any other SCBMB and SCSB campaigns and promotions during the respective Tracking Periods.

With this condition, does it affects our money in the StepUp FD promo?

This post has been edited by MGM: May 5 2012, 10:36 PM

I still a bit blur after read through all sifu comment.

I do not have SCB acc.
What is the Idea (min) amount to deposit into CASA (Including any annual fee/cost when open account)?
What type of account should I open to maximize my return?

After I perform debit card trasaction e.g. RM5 (after 10days open acc). Do I need to top up any amount?

Thank you very much!

This post has been edited by tay: May 4 2012, 11:32 PM

Me too

Example 2:
Ms B is an Eligible Customer who is a New CASA Customer. She opens an e$aver account on 9 May 2012 and her AB in that account in May 2012 is RM20,000, which satisfies the May minimum AB requirement.
As Ms B is a New CASA Customer, her Baseline is zero, and her Tracking Period runs from 9 May 2012 to 31 July 2012 (83 days).
Ms B pays her telephone bill from her e$aver account via Standard Chartered Online Banking, which means she qualifies for CashBack Rewards.
The total of day-end balances in her e$aver account during the Tracking Period is RM1,200,000.
Her e$aver AB during the Tracking Period = RM1,200,000/ 83 days = RM14,457.83, which means Ms B is eligible for RM100 CashBack Rewards, which will be credited to her e$aver account.

Above taken from SCB website.
Does that mean if a New SCB customer open a new SuperSalary account and bank in rm30k on 31-may, he will qualify for the rm300 cash rebate?
The AB for May would still be rm30000 even for one day right? If that is the case, the returns(rebate+int) is rm300+rm75 ie 7.5%.

This post has been edited by MGM: May 4 2012, 11:46 PM

Assume you take out RM16500 funds on 3-May
1-May : Day End Balance = RM36500
2-May : Day End Balance = RM36500
3-May : Day End Balance = RM30000
4-May : Day End Balance = RM30000


Should be RM6500 not RM16500?

If RM 16500, balance is RM20000

No need to wait for cheque to clear. FD will start on the day you give them the cheque

According to the explanation from SCB site, if opening an account on 31 May, bank in RM30,000 and on the same day you perform an online billing transaction, or use debit card or do a withdrawal from ATM, you would meet their criteria and eligible for the offer. Since you started on 31 May, your tracking period will be 62 days instead of 92 days. At the end of the tracking period, your AB for the entire 62 days tracking period will be RM30,000, thus will be rewarded RM300. This really sound good.

This is according to their term written in their site, but to confirm it, I think it is better to walk in and talk to their officer.

If I open a CASA account on 31-May(Thurs), get an ATM card and bank in rm30k by other bank's cheque which will take a few days to clear, then the ADB for May would not be rm30K? Then must do a Rentas in the morning of 31-may.

BTW does one need to be employed to open a SuperSalary acc? What about fulltime housewife? Can't find the requirement on their website.

This post has been edited by MGM: May 5 2012, 09:34 AM

If you use banker cheque, you need to bank in on 29th May before 2.00pm so the cheque will clear on 31 May. It is not like the usual FD where your FD period started at the time when you give the bank cheque to the bank staff. If you decide to use ATM card, you need to make a withdrawal to meet the criteria. But I still think it is better to ask SCB to confirm if you will get RM300 for putting in RM30,000 on May 31 though their example told us so.

Not so sure about this Supersalary account but I know that the eSaver account can be opened by anyone.

This post has been edited by lkcheng: May 5 2012, 10:14 AM

If open acc on 29-may with initial deposit of rm30 then must bank in cheque of rm31970 (which will only cleared on 31-may), your ADB for May would be rm10667 and ADB for tracking period from 29-May to 31-July(64 days) would be >rm30000, hence will qualify for rm300 cash rebate. Someone pls reconfirm.

Supersalary enjoys better interest rate than e$aver.

The ADB and cash back is really complicated and confusing sometimes.

Why not make it more simpler?

I think you are right, the tracking period will be started from the date your account created. But it is still good to put in RM31,970 for RM300 interest for 64 days. It is equal to 5.63% pa. I did some calculation, I think you need RM31,000 only if you create acc on 29th and cheque clears on 31 May.

Haha, whenever I see INCREAMENTAL word, I lazy to read on liao. But since this topic is so actively debated and it slowly arouse my curiosity to find out what's this deal is all about. After reading the tnc, I think this promo gives good return but the downside is the return is capped at rm300 only.

How long do we need to keep the 30k in the account, till 31 July (64 days from May 29)? Thereafter we can request the banker cheque and open a new FD in another bank?

It's seem complicated.

In a lay man term, how much should I deposit let's say today until July in order to get the RM300 cash back?