Affin Bank FD promotion offers you high interest rates of up to 5.18% p.a. on a deposit amount of RM10,000. The offer is available for both new and existing individual customers. Even the employees of Affin Bank and Affin Islamic Bank can take advantage of the promotion.
FD Promotion Interest Rates
You can get the promotional offer on Fixed Deposit when you apply for ASNB Variable Funds, Unit Trust or Current Account/Savings Account (CASA). It is recommended to invest fresh funds into a new deposit account. Alternately, you can add fresh funds to an existing deposit account.
The bank offers three different packages from which you can choose one. Package 1 is applicable when you choose to invest with a CASA. The package offers three tenures and different interest rates on each tenure as shown in the table below:
|FD Term||Interest Rates (% p.a.)|
In Package 2, you will have to invest in ASNB Variable Funds along with the FD account. The three tenures and their respective interest rates are given below:
|FD Term||Interest Rates (% p.a.)|
Under Package 3, you will have to invest in Unit Trust along with the FD account. On a 9 months’ tenure, you will earn 5% p.a. as interest.
Promotion Start & End Date
The promotion has begun on 1 August 2017. Affin Bank has extended the end date of the promotion until 28 February 2018.
Affin Bank Fixed Deposit Promotion Terms & Conditions
Affin Bank has framed the following terms and conditions for the promotion:
- If you are investing fresh funds in a new FD account, it must be a minimum of RM10,000.
- If you are investing fresh funds in an existing FD account, then the total of new and existing fund must not be less than RM10,000.
- Partial withdrawal of FD is not allowed.
- Premature withdrawal within 3 months from the date of deposit will not fetch any interest.
- Premature withdrawal after 3 months from the date of deposit and before maturity will fetch you half of the interest as per FD Board rates up to the completed month.
- You can ignore the promotion and choose to go with the board rates if you wish to.
- PIDM does not cover Unit Trust.
- If you cancel your ASNB Variable Funds/Unit Trust within the cooling-off period, the promotion will no longer stay active and will be terminated. Eventually, the board rates will be applied.
Q. What is a fresh fund or new fund?
A. A fresh fund or a new fund is a certain amount that is credited to your account via cash or a cleared cheque or a telegraphic transfer from another bank, not more than a week ago from the date of opening of the FD account.
Q. Can I transfer fund from a different Affin Bank account of mine? Is this valid as a fresh fund?
A. No. Transferring fund within Affin Bank accounts of the same name is not considered to be a fresh fund.
Q. Are there any restrictions on the amount that can be invested as fresh funds on an existing fund?
A. Yes. Affin Bank has defined the percentage of fresh funds to be invested in an existing fund. They are given below:
Existing Funds Minimum Percentage of Fresh Funds < RM100,000 10 RM100,000-RM499,999.99 20 > RM500,000 30
Q. What are the effective rates of interest under Package 1?
A. The effective rates of interest under Package 1 are:
- For a 15 months’ tenure, the rate varies between 4.10% p.a. and 4.20% p.a.
- For an 18 months’ tenure, the rate varies between 4.19% p.a. and 4.25% p.a.
- For a 24 months’ tenure, the rate varies between 4.28% p.a. and 4.30% p.a.
Q. What are the promotional conditions for each of the three packages?
A. The promotional condition for Package 1 is that 90% of the fund will be utilised for FD and 10% of the fund will be utilised for your CASA. The condition for Package 2 is that the ratio of FD versus ASNB Variable Funds will be 1:1. When it comes to Package 3, you can choose the ratio of 1:2 or 1:1 for Unit Trust and FD respectively.