Alliance Bank offers a high-interest rate Fixed Deposit (FD) campaign with a special validity period. The campaign requires you to make a certain minimum deposit in a Fixed Deposit account and CASA maintained with the bank in a specified ratio. Read on to know the further details of the campaign.
Alliance Bank Fixed Deposit Promotion
Make a minimum deposit of RM30,000 in an Alliance Bank FD account for a period of 3 months. Simultaneously, you must deposit a minimum of RM10,000 in your CASA. The CASA balance will be earmarked for the same tenure as FD account. The funds to be deposited must be in a ratio of 3:1 for FD and CASA. When you fulfil these criteria, you can get a preferential rate of 5.00% p.a.
|Minimum FD Amount||Minimum CASA Amount||FD Tenure/Earmarking Period||Placement Ratio||Promotional Rate|
|RM30,000||RM10,000||3 months||3:1||5% p.a.|
Alliance Bank FD Promotion Start and End Date
The promotion is valid on 4, 11, 18, 25, and 31 January 2019.
Terms and Conditions
- The deposit must be placed in fresh funds only.
- The funds must be transferred to an Alliance Bank account not more than 7 days before the FD placement.
- Upon maturity, the deposit account will be automatically renewed at the prevailing FD board rates.
Visit the nearest branch to enquire about the further details of the promotion. You need to know that the campaign is valid only on the specified dates. Many other banks in Malaysia provide similar FD campaigns. You can look at all the current campaigns before you decide on where to invest.
Q. Are all CASA eligible for the promotional purposes?
A. No. There are a few savings/current accounts that are not eligible for the promotion. They are given below:
- Alliance High Yield Account.
- Alliance Elite Account.
- Alliance Buddy Account.
- AllianceSave Pendidikan.
- AllianceSave Pendidikan (School Adoption Program).
- Savelink Account.
- Junior Smart Savers-i.
- Alliance SavePlus Account.
- Alliance SavePlus Account-i.
- Foreign Currency Account.
- Share Margin Account.
Q. What are fresh funds under the campaign?
A. Fresh funds can be defined as:
- The funds not taken from any existing accounts maintained with the bank or its subsidiaries.
- They must not be transferred from an existing savings/current/fixed deposit/foreign currency account via a cheque or demand draft issued by the bank.
Q. Can I deposit any amount above the minimum sum stated?
A. No. You must deposit funds in FD and CASA in the ratio of 3:1. That means, you can place any amount above RM10,000 in CASA. However, the amount deposited in the FD account must be 3 times more than the amount earmarked in the CASA. A minimum total deposit of RM40,000 is mandatory to get the benefits of the promotion.
Q. What are the applicable board rates for a 3-month tenure?
A. You can get an FD board rate of 3.25% p.a. over the counter for an FD account with 3-month tenure. For non-residents, a board rate of 3.05% p.a. for the same tenure.