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.

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.

This post has been edited by aeiou228: May 16 2016, 07:47 PM

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%

1. This topic is talking about putting money in PBB @ 5.6%. If you want to learn about other investment options with better returns, there are many other topics discussing about it in this forum.
2. Why do you have to uplift your FD knowing that the premature withdrawal penalty is going to cost more then 1.6% extra interest? You don't need rocket science to understand this.

Ops ! I just stepped on an angry toe.

1) Don't be silly, you will be getting bonus interest 5%p.a. effective on your incremental ADB from now till 31july. Prove me wrong if you know better.

2) From your second question. It makes me wonder, beside FD and other investments, you don't have any reserve fund parking in a temporary account for any contingency investment deployment ? Must uplift FD for contingency deployment ?
Well, my FD remain in FD and temporary fund in Maybank GIA-i @ 4%. Yes I just need to write a chq to move the fund from MBB GIA-I over to PBB for 5.x p.a. EFFECTIVE. It's that simple.
Again, please don't be so naive to uplift FD prematurely for this PBB campaign.


Why so offended with such small argument to the extend PMed me and displayed your ill-mannered behavior ?

You seriously need to go back to school to re-learn what Effective Annual Rate is all about before self inflicting more embarrassment in a public forum.

How can you compare a 2.5 months placement with a 12 months placement as a fair comparison and concluded that the extra gains from the 2.5 months placement is not worth it as compare to 12months placement ? That's incredibly silly ! Unless you came from stone-age era without any concept of TIME, it's common sense to re-invest your money in FD or other financial instruments after the first 2.5months placement completed.
The switch over from MBB @ 4%p.a. to PBB @ 5.6%p.a, i gain additional 1.6%p.a. interest.
1.6% p.a. is still 1.6% p.a. be it over 2.5 months or over 12 months, you understand ?
You can't simply stretch the 1.6% p.a. effective rate with 2.5/12 in order to tune down the gain to 0.xx% over 12 months period and use it as a comparison on a 2.5 month tenure. That's absurd and foolish comparison.
Look, stop twisting around with the silly 0.xx%, Lets talk real figures. With 300k ADB @ 1.6%p.a (bonus 5% + base 0.6%) @ 2.5 month. My extra interest gain is RM1000 within 2.5 months. Come on, prove me wrong.

First, you said "So in reality, you are getting an additional 0.29%, AND NOT 5%.", and you said this campaign not worth it and you demonstrated your ludicrous twisted logic, magically turned 5% to 0.29%.

2. You jumped to the conclusion that METALRAGE's FD withdrawal is "that's even sadder."

3. Without any provocation, you sent unsolicited PM to me with name calling message title.

4. You also formed premature judgment that one must uplift FD in order to participate in this campaign.

5. I challenged you twice to prove me wrong with actual calculated facts and figures but you beat around the bush without any direct answer. (As the matter of fact, you have no answer to my challenge)

When cornered and incapable to counter argue, you resorted to say I missed your point.

Ok, Smart Alec, let's look at your point:

"That if you don't invest for the full 12 months, you don't get the benefits of the 5% for the full 12 months."

You point is outrageously flawed and a far cry from what this topic is discussing about which is to earn 5.6% p.a. in 2.5 month.
Just incase you don't know, bank's deposit interest rate is always expressed in per annum, Eg. 5.6% p.a. (5+0.6) in this promotion campaign. You will earn 5.6% p.a. regardless of the any tenure you placed. Be it 1 month, 2.5 months, 6 months, 12 months etc, the interest that you are going to earn will remain at 5.6% p.a.
You don't need to invest for the full 12 months in order to get the benefit of 5%p.a.
Again, in case you don't know how to calculate, say you place RM10k in a 6 months FD @ 5% p.a. you will still earn 5% p.a. but interest will be pro-rated to 6 months and the calculation goes like this 10,000 x 5% x 6/12 months = RM250. You don't know what is PRO-RATE is it ?? Per annum means must die die invest 12 months is it ??

Perhaps you need a face-saving exit out of this losing argument, why not you just say you think RM1000 extra interest gain over 2.5 month in this promotion campaign is just a small money to you and not worth your while investing in it ?


This is your reply @ post #25 right after METALRAGE's reply @ post #24.
PS: And if you have prematurely uplifted your FD, transfer out/in and told it's not fresh funds, that's even sadder.
It was clearly meant for METALRAGE. Beat around the bush again ??

Yesterday, it was missing a point....today....public judgment...can you do better than these nonsense ?
The public can clearly see your lack of understanding on a bank's deposit interest rate which is always expressed in p.a. (Per Annum) and the need to pro rate for placement tenure lesser or longer than 12 months.

I quote METALRAGE again, DROP THE CONDESCENSION !!

Why are you afraid of other poster ? Why drag the public in then ? So this argument is between you and me, please counter my post #40 one by one.

That sound very familiar of a typical loser's face-saving exit t