RHB Bank has come up with a new promotion on Term Deposit (TD), Fixed Deposit (FD), and Commodity Murabahah Deposit-i placements. Choose the promotion you think gives a better return based on the tenure, deposit amount, and other factors. Read through to know more about these promotions.
RHB Bank FD Promotion Mechanics
Invest in ASNB VP or Unit Trust (UT) when you place your TD to earn high promotional rates of up to 22.88% p.a. You can choose a tenure based on your convenience—1 month or 3 months. The promotional rates vary based on the tenure chosen as given in the table below:
|Minimum Deposit Amount||Minimum Investment Amount||Promotional Rates for 1-month Tenure||Promotional Rates for 3-month Tenure|
|RM10,000||RM10,000 (ASNB VP)||22.88% p.a.||9.88% p.a.|
|RM10,000||RM10,000 (Unit Trust)||15% p.a.||6% p.a.|
Get returns of up to 7.88% p.a. on your Fixed Deposit account when you sign-up for selected RHB Life Protection Plan. The promotional benefit is available for 3- and 6-month tenures.
The details of the scheme are summarised in the table below:
|Minimum Annual Premium for Year 1||Fixed Deposit Placement||Deposit Tenure||Interest Rate|
|RM5,000||Up to RM20,000 (Ratio 1:1)||3 months||7.88% p.a.|
|Up to RM30,000 (Ratio 1:1)||6 months||4.88% p.a.|
The FD promotion lets you save money and get high returns so that you can realise your child’s dreams. The tenures available vary based on the mode of application—over-the-counter and online. Similarly, the minimum deposit amount, tenure, and the promotional rates also vary based on the mode of application.
The table below gives a brief summary of the promotion:
|Participating Products||Mode of Application||Minimum Deposit Amount||Deposit Tenure||Promotional Rate|
|FD/CMD-i||Over-the-Counter||RM10,000.||15 months.||4.38% p.a.|
|FD/CMD-i||Over-the-Counter||RM10,000.||10 months.||4.25% p.a.|
|e-FD/e-CMDi||RHB Now Internet Banking via FPX Transfer||RM5,000.||7 months.||4.10% p.a.|
FD Promotion Start & End Date
The promotion is available until 30 August 2018.
Promotion 2:The promotion is valid from 1 July 2018 until 30 September 2018.
Promotion 3:The promotion is available until 30 September 2018.
Promotion Terms & Conditions
- You have to invest in ASNB VP or Unit Trust on the same day as opening a TD Account.
- The amount you invest in ASNB VP/UT must be more than or equal to the amount placed in the TD account.
- The TD account holder and the investment account holder must be the same person.
- In the case of a joint account, the primary account holder of the TD and investment accounts must be the same person.
- The FD placement must not be more than the annual first-year premium.
- You must place a minimum amount of RM5,000 in the deposit account.
- You must sign the Declaration and Authorisation Form before you place the deposit.
- You must open an FD account and sign the proposal form for Bancassurance on the same day.
- FD placement must be made in fresh funds only.
- Each “Banca” product subscribed can be associated with only one FD account throughout the promotion period.
- The e-FD/e-CMDi placement is valid only if the funds are placed via an FPX transaction.
- For over-the-counter transactions, you cannot deposit an amount above RM10 million.
Hurry and place funds in the deposit account of your choice before the promotion expires. Do not miss the opportunity to earn higher returns on the amount you deposit. Also, go through the terms and conditions carefully to avoid any sort of confusion.
Q. Which are the participating “Banca” products for scheme 2?
A. The participating “Banca” products under Promotion 2 are:
- Essential PremierLink (EPL).
- Essential PrimeBuilder (EPB).
- Prime VantageLife (PVL).
Q. Are the TD and investment accounts protected by Perbadanan Insurans Deposit Malaysia (PIDM)?
A. The funds placed in the TD account are protected by PIDM. However, the funds in the investment account are not insured by PIDM.
Q. Should I pay any fees and charges to invest in ASNB VP and Unit Trust?
A. Yes. You have to pay a sales charge of 5% when you invest in ASNB VP and 3% when you invest in UT.
Q. What is the maximum amount that can be placed in a TD Account?
A. You can place a maximum of RM5 million in a TD Account under the promotion.
Q. Can I withdraw funds from my TD account?
A. RHB Bank advises that you do not uplift/withdraw from the TD account before maturity. If you do so, you would not receive any interest on the deposit amount.
Q. How should I open an e-FD/e-CMDi account?
A. You can follow the following steps to open an e-FD/e-CMDi account:
- Log on to your RHB Now Internet Banking account.
- Click on the “Investment/Fixed Deposit” option.
- Choose the “Transfer fund from Other Bank” option.
- Carry out the fund transfer procedure by logging into your other bank’s account.
- Once you get a confirmation on the fund transfer, you will be redirected to the RHB site again.