QUOTE(METALRAGE @ May 16 2016, 06:58 PM)
Thank you good sir.
My funds were never in my CASA. But they were in PB FD, which i instant transferred out to another bnkvia IBG over the counter (Never passed my PBB CASA). In this case, the bank manager said money transferred back in won't be considered. I have to top up beyond what I transferred out today.
I called up their general hotline and the person over the phone confirmed this is her understanding as well.
For all the effort and foregone premature upliftment of FD, I am quite unhappy. I had done something similar with Hong Leong and Alliance in the past and it was fine (Transfer out and in the next day).
PBB should really clarify this in their T&Cs. I wonder who the product manager is.
If that is the case, I think should be considered as fresh fund as it did not affect your SA's balance. If the money entered your SA first before being transferred out and stayed there for a day or two, then you will not be eligible for the promo rate unless you top up more money because of the IAB. Just my thoughts, I could be wrong.
QUOTE(aeiou228 @ May 16 2016, 07:13 PM)
You made the right decision to stay away from this campaign because you probably violated TnC clause 2.6
2.6 The funds used to participate in this Campaign must be from fresh funds.
“Fresh funds” refer to funds that do not originate from any existing deposit
account(s) of the Eligible Participant maintained with PBB or PIBB.
Below are definition of
ADB and
Incremental ADB copied from the TnC
ADB @ 31 July 2016 = Sum of day end balances from the date of SMS registration until 31 July 2016 divide by Total number of days from the date of SMS registration until 31 July 2016
Incremental ADB = ADB @ 31 July 2016 minus Day end balance on the previous day of SMS Registration (i.e. day end balance @ 4 May 2016)
Based on my understanding from the above TnC, E.g. one can sms register today and open a new BSA and place RM1 million today, then withdraw RM1 million 19 days later on 4th June, he will still earn 5% + 0.5% on a incremental ADB of RM250K for 76 days.
Please share your thought.
How do you get the +0.5%? Do you mean the BSA base interest? It is 0.6%. Your calculation is correct except for the part on + 0.5%. The base interest, 0.6% is calculated daily & credited every six months. So the customer would earn 5% on incremental ADB of RM250K for 76 days & 0.6% on the end-day balances of the account (RM 1 million) for 19 days. Do note however that only customers who do not have an existing savings account with PBB can open the new account. Else, the new account would not be eligible for the promotion.
QUOTE(aeiou228 @ May 17 2016, 11:29 AM)
For extra 1.5% over the next 2.5 months, the extra interest gained on 300k ADB is RM937.50 over FD placement.
The only effort one need to put up is just write a chq and pop into the chq deposit machine. Free and easy money, why not?
BTW it's 5.5% (5+0.5) not 5%.
I'm comparing the best short term interest (profit sharing actually) bearing account with flexibility to withdraw, Maybank GIA-i @ 4%
PBB Savings account is protected by PIDM while GIA-I is not (even the profit & principal is not guaranteed). Since, it is a savings account, it is very flexible indeed. One can take out money anytime & still not affect the placement. You don't even need to uplift it. Just withdraw as usual. In order not to lose out on the promo rate, one needs to top-up the amount after that, so that the average balance increases back to the desired level. If not, one will get a lower bonus rate or none at all depending on the amount withdrawn. One can still earn the base interest although the rate is low.
May 7 2016, 12:04 PM
Quote
0.0208sec
0.83
7 queries
GZIP Disabled