(TRUE SA/TRUE SA-I) Bonus Rate Campaign
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Terms and Conditions TRUE Savers Account/TRUE Savers Account-i (TRUE SA/TRUE SA-i) Bonus Rate Campaign This Amended Terms and Conditions for AmBank (M) Berhad and AmBank Islamic Berhad: TRUE Savers Account/TRUE Savers Account-i (TRUE SA/TRUE SA-i) Bonus Rate Campaign will supersede the existing Terms and Conditions with effect from 12 July 2021. 1. Clause 4.4 (B) Spend (a) has been added in blue font to reflect the changes in Campaign Mechanics. 2. Clause 4.4 (B) Spend (d) has been added in blue font to reflect the changes in Campaign Mechanics REMINDER: The Eligible Customers (as defined below) are hereby reminded to read and understand the terms and conditions below which are available at www.ambank.com.my/TnC. If the Eligible Customers do not understand any of the terms and conditions and the updated terms and conditions (if any), the Eligible Customers are advised to discuss with any of the Bank’s staff, representative or agent. 1 Definition 1.1 For the purpose of these terms and conditions, the following words and expressions shall have the meanings assigned to them except where the context otherwise requires: “AmBank Group” refers to all the Related Corporations and Associate Corporations of the Bank whether incorporated within or outside of Malaysia, existing now or in the future and reference to ‘AmBank Group’ in these terms and conditions herein, shall include all or any entity within AmBank Group. “AmOnline” refers to the internet banking services offered by AmBank Group to its customers to perform banking transactions via the Internet in accordance with the terms and conditions stipulated at http://ambank.amonline.com.my “Bank” refers to both AmBank (M) Berhad (‘AmBank’) [Company No.: 196901000166 (8515-D)] and AmBank Islamic Berhad (‘AmBank Islamic’) [Company No.: 199401009897 (295576-U)], companies incorporated in Malaysia under the Companies Act 1965 (repealed by Companies Act 2016) and having their registered address at Level 22, Bangunan AmBank Group, No. 55, Jalan Raja Chulan, 50200 Kuala Lumpur. “Campaign” refers to “TRUE Savers Account/TRUE Savers Account-i (TRUE SA/TRUE SA-i) Bonus Rate Campaign” organised by the Bank in accordance with the terms and conditions stipulated herein. “Fresh Funds” refer to monies or funds that are: (a) not transferred from any of the Bank’s existing Fixed Deposit/Term Deposit-i or Current Account & Savings Account/Current Account-i & Savings Account-i (CASA/CASA-i); and (b) transferred from another bank/financial institution into the Eligible Customer’s CASA/CASA-i not more than seven (7) calendar days prior to deposit placement. Deposit placements made by way of cheque(s) are subject to their clearance and will only be considered as deposit placements by the eligible customers after the cheques are paid or cleared and will only be considered good if not returned or dishonoured. “Deposit Amount” means the amount of Fresh Funds that the Eligible Customers must maintain in the TRUE SA/TRUE SA-i in order to be entitled for the Bonus Rate indicated in Clause 4.1 Table 1. “Minimum Deposit” means the minimum amount of Fresh Funds the Eligible Customer(s) are required to deposit in TRUE SA/TRUE SA-i (as stipulated in Clause 4.1 Table 1) in order to qualify for the Campaign’s bonus rate. 1 Terms and Conditions TRUE Savers Account/TRUE Savers Account-i (TRUE SA/TRUE SA-i) Bonus Rate Campaign “Monthly Average Balance (MAB)” is defined as the sum of all the daily closing balance of the deposits in Eligible Customer’s TRUE SA/TRUE SA-i, divided by the number of days in the same month. “Prior Notice” means notice by the Bank of certain facts or of a particular state of affairs of at least seven (7) calendar days on the Bank’s website at www.ambank.com.my. “Retail Banking” refers to consumer banking that caters to individual customers. “Retail Individual Customers” refer to individual customers of the Bank under Retail Banking. Words denoting person shall include living persons and, if and where applicable, body or persons incorporated or unincorporated. Words importing the singular shall also include the plural and vice-versa. Words importing the masculine gender shall include the feminine and neuter gender. 1.2 The term ‘Associate Corporations’ shall have the same meaning assigned to it under Section 2(1) of the Financial Services Act 2013 or the Islamic Financial Services Act 2013, where applicable. The term ‘Related Corporations’ shall have the same meaning assigned to it under Section 7 of the Companies Act 2016. 2 Campaign Period 2.1 The Campaign shall run from 1 September 2020 and ends on 30 September 2021, both dates are inclusive (“Campaign Period”). The Bank reserves the right to vary or amend the duration of the Campaign Period at its discretion with Prior Notice. 3 Eligibility 3.1 The Campaign is open to all new and existing Retail Individual Customers who meets all the following criteria listed below, herein referred to as the “Eligible Customers”:- a) Primary Accountholder of TRUE SA/TRUE SA-i (herein referred to as “Participating Accountholder”); and b) Register as an AmOnline user; and c) holds at least one AmBank Debit card 3.2 Employees of AmBank Group are not eligible to participate in this Campaign. 3.3 This Campaign is only applicable to the following products (herein referred to as the “Participating Account”): a. TRUE Savers Account b. TRUE Savers Account-i 4 Campaign Mechanics 4.1 Subject to meeting the Campaign Criteria as stipulated in Clause 4.4 and the terms and conditions herein, Eligible Customer will be entitled to receive the corresponding Bonus Rate as shown in Table 1 below: 2 Terms and Conditions TRUE Savers Account/TRUE Savers Account-i (TRUE SA/TRUE SA-i) Bonus Rate Campaign Table 1 Summarized Criteria MAB Cap Campaign Bonus Bonus Rate for Bonus Rate Prerequisite to enjoy Category Rate (p.a.) Crediting Month Entitlement Bonus Rate Minimum deposit of Bonus rate will be RM3,000 fresh funds credited on monthly in one single basis to Eligible (A) Deposit transaction on a 1.00% p.a. Customer’s monthly basis into Participating TRUE SA / TRUE Account within four SA-i. (4) weeks after the Perform a minimum end of every of 3 transactions transaction month (applicable to bill during the RM100,000 payments/Retail Eligible Campaign Period. Transactions/eWallet Customer(s) must top-up only) via meet the criteria e.g: If deposit is 1 AmOnline/ AmBank under Category made in September, (B) Spend 0.50% p.a. Debit Card/ AmBank “(A) Deposit” in the Bonus Rate will Credit Card / AmBank order to enjoy be paid within four Islamic Credit Card-i. bonus rate under (4) weeks from 31 Category “(B) September based 1 Note : Eligible Customer Spend” and “(C) on September’s must meet minimum Invest or MAB. cumulative spend of RM1,000 monthly. Insure/Takaful”. Purchase Selected Bonus rate will be Unit Trust/Shariah- credited to Eligible compliant Unit Trust Customer’s (“UT”) with a participating account minimum RM5,000 within four (4) weeks (C) Invest investment OR; from the or Insure/ commencement of RM 30,000 2.00% p.a. Takaful Purchase selected EACH UT Insurance/Takaful investment or Policy with a insurance/Takaful minimum annual signed up premium/contribution value of RM2,400. 3 Terms and Conditions TRUE Savers Account/TRUE Savers Account-i (TRUE SA/TRUE SA-i) Bonus Rate Campaign Purchase Selected throughout the Unit Trust/Shariah- Campaign Period. compliant Unit Trust (“UT”) with a e.g: If the UT minimum RM12,000 investment/purchase investment OR; of insurance is settled on 15th Purchase Selected 4.00% p.a. September (after Insurance/Takaful cooling-off period), Policy with a the Bonus Rate will minimum annual be paid within four premium/contribution th value of RM3,600 (4) weeks from 15 September based on September MAB. 4.2 Bonus rate for Category (A) and (B) will be calculated based on the MAB of the Participating Account on a monthly basis throughout the Campaign Period. MAB capping of Ringgit Malaysia One Hundred Thousand (RM100,000) shall apply for the bonus rate calculation for Category A & B and Ringgit Malaysia Thirty Thousand (RM30,000) for Category (C). 4.3 The Eligible Customer may be awarded up to 6.25%p.a. in the participating account based on total interest/profit earned from the Account Base Rate and total Bonus Rates on all Campaign Categories as stated above in Table 1. The Bonus Rate offered in this Campaign will be subjected to immediate revision should there be any changes to the Overnight Policy Rate (OPR). 4.4 Criteria for Bonus Rate Entitlement A. Deposit Eligible Customer(s) is entitled to 1.00%p.a. Bonus Rate provided that they place a minimum deposit amount of Ringgit Malaysia Three Thousand (RM3,000) fresh fund in one single transaction on a monthly basis into the Participating Account. The deposits made under this Campaign are protected by Perbadanan Insurans Deposit Malaysia up to RM250,000 for each depositor. B. Spend a) Eligible Customer(s) is entitled to 0.50%p.a. Bonus Rate provided they perform a minimum of three (3) transactions (applicable to bill payments (billers listed on AmOnline Bill Payment webpage or JomPAY billers), all retail transactions (FPX Direct Debit registeres merchants/billers) for the purchase of any goods or services (local and international) and eWallet top-up only) via AmOnline/ AmBank Debit Card/ AmBank Credit Card/ AmBank Islamic Credit Card-i and meet the minimum cumulative spend requirement of Ringgit Malaysia One Thousand (RM1,000) each calendar month.