CIMB BANK Earn 3% p.a. bonus interest with Prime Current Account from 1 May 2016 to 31 July 2016
T&C http://www.cimbbank.com.my/content/dam/cim...tnc-may2016.pdf
1. This campaign is opened exclusively only to existing Prime Banking customers ( who receive the campaign invitation via Electronic Direct Mailer (“eDM”) or, Short Message Service (“SMS”).





Public bank from 3 May 2016 to 31 July 2016

To participate in this Campaign, an Eligible Participant is required to register
his/her participation via a ONE (1) time Short Message Service (SMS) during
the Campaign Period and send to 63633 in the following manner.
Key in
“PBSR <space> 12-digit NRIC number” and send to 63633
(e.g. PBSR 750315145894)
Important: Messages received in any other format will NOT be accepted.

T&C

https://www.pbebank.com/pdf/Promotions/tc-50thanisave.aspx

This post has been edited by poor man: May 18 2016, 09:51 PM


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just hated it...too many t&c....

this Campaign for big amount 3 mth ...

Everyday bank in 5k minimum for 3 mths period ?

PB used to be a pretty good, reliable, solid, predictable and sensible bank.

For some reason, their marketing department has been taken over by a bunch of clowns who conjure up all sort of gimmicky promotions and turn banking into a circus where you need to participate by SMS.

Why can't I just go to the bank (or visit online) and deposit funds into my account because it gives the best rates without having to fxxx around with the unnecessary calculations, or worry about a typo in my SMS?

This post has been edited by howszat: May 3 2016, 08:57 PM

You don't need to bank in 5K everyday, you can put a big lump sum one shot as well, it takes everyday balance then divided number of day.

5K ADB only get 1.5%, not something attractive
To get 5%, you need to put in 250K and max 300K.

Banks ...Beginning to Feel Shortage in Funds ? Or Raising Capital ?

well said

Ya, I don't understand why the need to register with SMS, somemore the SMS is managed by a third party company.
By sending IC number to a 3rd company that managed the SMS, isn't the company can collect plenty of data of customer already?

Why just can't do it like ordinary FD or any banks deposit promotion.

What is the effective rate if I deposit a lum sum of rm300k?

5%

Thanks. The rate of 5% is really good but only for very short period. I read the tnc and seems the promo is only less than 3 months period. Not worth to switch my current FD to this...

It's actually bloody good 5% p.a. It's even higher than my housing loan interest.

Gonna give it a go. But mafan abit la. Thanks!

This post has been edited by METALRAGE: May 5 2016, 03:30 PM

For the past 2 days, I have been trying to register using “PBSR <space> 12-digit NRIC number” and send to 63633.
I receive a SMS reply "[RM0.00] the service is not available. Please try again later. ***"

Has anyone succesfully regisitered ?

Indicating banks are short of deposit, interest rate rise could be near.

Because they are getting a cut from the sms fees.

More than 5% actually, if you take the base interest into account as well. For e.g., for Basic Savings Account, the rate is 0.6%, so total would be 5+0.6 = 5.6%.


I managed to register on 5/5. First time I tried, I did not receive the confirmation SMS. So, I called CS and was told to try again as there were some problems with the system. Need to receive the confirmation SMS, otherwise not considered as successful, I was told. I managed to register a few hours later. Probably the system cannot handle the traffic as too many people are registering.

SMS Registered successfully on Friday 13 May and this morning (16 May) went to the branch to make a placement to my SA.

The branch CS and her senior officer were not very sure about the basis of the INCREMENTAL AVERAGE DAILY BALANCE (ADB) and they gave me wrong info a couple of times. So they called HQ for further clarification and only to find out that the ADB calculation date starts from the date of SMS registration. My balance on the date of sms registration till 15 May was RM30 only, so to qualify for 5% bonus interest, I must have RM260k or more from today till 31 July in order to derive a minimum ADB of 250K. So Please take note, ONLY SMS REGISTER on the day of placement.

The bonus 5% interest has a maximum cap of RM300k ADB. If one have RM300k OR MORE temporary fund, it is highly recommended to dump in to this PBB campaign because you still can withdraw and deposit without penalty as long as you maintain the ABD @RM250k from the sms register date to 31 July 2016.

I SMS registered on 15 May 2016 (Sun). Today, 16 May, I transferred out my funds from my PB FD to another bank via OTC IBG so that I can transfer back in the funds to PBB tomorrow. Because 5% interest rate is even higher than my refinance housing loan.

While waiting, I casually checked with the branch manager, they said money transferred out and in again will not be counted, because PBB knows I took money out from PBB to put it back into the SA. And that will be tracked across all my accounts I maintain with PBB, not just the SA in question.

This, I'm not pleased to hear because it wasn't stated clearly inside their product disclosure sheet. It just said fresh funds. And in previous banks, I had done this before and it works.

I guess being Chinaman (don't even have an FB page), PBB is just a bit too clever. But they did not consider how pissed off a customer like me would be for wasting effort and foregone interest to find out at the end of the campaign period i got a big fat zero. It's a good thing I checked!

I think I'll keep my money out of PBB for now. Perhaps for good.

Those thinking to do the same thing I did, be warned.