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Make 10% in a Year with MBSB Ang Pow Savings Account

Posted in Malaysia Investment, Malaysia Personal Finance |

Yes, that’s right, and the offer is valid till 31st May 2010.

If you haven’t heard about it, the Malaysia Building Society Berhad (MBSB) launched the Ang Pow Savings account in 14th February that gives depositors up to RM50 (Ang Pow Bonus) for every RM500 they saved in an Ang Pow Savings account.

mbsb-angpow-savings-account

The Ang Pow Savings account will basically give you 10% bonus of your savings up to the maximum amount of RM50.00. For example, if you open an account of RM250, you will only get RM25. Likewise, if you open account of RM10,000, you would only still enjoy RM50.00 of bonus.

Hence, the trick is to open as many RM500 accounts as you possibly can. For instance, you can open a joint-accout of RM500 with Dad, one RM500 joint-account with Mum and one more joint-account RM500 with your spouse. Well, you get the idea. All these accounts will each get RM50 immediately. Imagine you have 20 joint-accounts, that would be RM10,000 in total, plus another RM1,000 of extra Ang Pow. Just be sure you can trust these people ;-)

However, you must ensure that the RM500 deposit is not withdrawn within the first year and that the account is active with transactions throughout the saving period. I did not ask how would an account be considered dormant though.

To reactivate a dormant account, the fee would be RM10.00. I think this fee is applicable to most savings account across major banks in Malaysia.

Also, if you are to terminate the account after one year of savings, you will need to pay a termination fee of RM5.00.

You are also entitled for some free gifts for opening a new account with MBSB.

The minimum deposit is only RM100.

If you want to understand in details about the terms and conditions of the account, visit your nearest MBSB branch.

I think this is a great deal that you should not miss!





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  • I did't know that MBSB allow us to open saving account with them. I thought they only giving loans. Thanks for the info.
  • simon
    how many account you have openned...
  • simon
    Will the bank so stupid to let you have multiple account?
    is there any restriction?
  • Simon, all unique accounts are entitled for the bonus.

    Simon's own single account is entitled for the bonus.

    Simon and Dad's account is entitled for another bonus.

    Simon and Mum's account is entitled for another bonus.

    Mum & Dad's account is entitled for another bonus.

    If Simon opens a second account, he is not entitled for the bonus.
  • Thank you for sharing this info. Plus you are kindly enough to remind us of the small prints, the termination of accounts and the reactivation of dormant account; and teach us how to maximise the profit, by creating many accounts.
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