KUALA LUMPUR: Public Bank Bhd and Public Islamic Bank Bhd have jointly launched the “PB Step Up FD” campaign, which offers promotional interest and profit rates of up to 3.80 per cent per year.
The campaign, which is open to all new and existing individual and non-individual customers of Public Bank and Public Islamic, started on July 1 and ends this month.
The group’s new endeavour will provide customers the flexibility to make short-term fixed-deposit or investment placement and to roll over their fixed-deposit or investment placement in order to earn higher interest or expected profit rates, depending on which banks they subscribe to.
In a statement, the bank said in order to enjoy the higher interest or expected profit rates, customers are required to place three-month fixed-deposit or investment placement into PLUS Fixed Deposit Account (conventional deposit account) or Istismar Account-i (Islamic investment account) during the campaign period.
Individual customers only need to deposit a minimum of RM20,000 to participate in the campaign, subject to a maximum placement of RM10 million.
A higher minimum and maximum placement amount of RM50,000 and RM20 million, respectively, is applicable to the non-individual customers.
“Customers will enjoy a promotional interest or expected profit rate of 3.40 per cent per year for the first three months. Should they roll over their placements for another three months, they will enjoy higher interest or expected profit rate of 3.60 per cent per year (first rollover) and 3.80 per cent per year (second rollover),” Public Bank said.
The “PB Step Up FD” campaign is part of the group’s ongoing initiatives to reward its customers for their continued support and loyal patronage.