Cash deposit and Fixed deposit contest and campaign - Comparison between Maybank, EON, RHB and HLB

Hi,

Noticed now few banks are offering various incentive for people to put their money to bank ? Perhaps that's a cheap way too raise capital than issuing bond ? Anyway it's a boon for the consumer.



Maybank

Weekly prize 2000 X 2 winners
Weekly consolation Swatch watch X 3 winners
Grand prize BMW 320i X 1 winner

Important things to know
1. Contest period from 1st March 2008 - 31 August 2009
2. You need to deposit 1000 (Savings/Current) or 10 000 (Fixed Deposit) to qualify for 1 entry
3. Contest winner is determined by Matrix concept
4. Weekly prize winner can only win 1 prize within a month and eligible for grand prize draw and winner have to sustain the amount throughout the Campaign period and that your name has been picked as a Winner based on the Terms and Conditions of the Campaign.
5. No entry form are required



EON
Monthly price
1st prize - 20 000 X 1 winner
2nd prize - 5 000 X 1 winner
Consolation - 1 000 X 100 winners
Grand prize - 500 000 X 1 winner

Important things to know
1. Contest period from 1 June 2008 - 31 January 2009
2. You need to maintain minimum monthly incremental average balance (Formula = [date of opening]/[No of days in a month]) of 1000 (Personal) or 5000 (Business)
3. Contest winner is determined by Spin the Ball method
4. Monthly winner are eligible for grand prize if monthly balance and monthly average balance are maintained from the day the winner are announced.
5. Contestant are required to register their mobile phone and will received SMS notification if eligible for this month contest


RHB
Weekly prize (Capped to 5000)
Free Petrol Voucher X 1 winner
Free Grocery Voucher X 1 winner
Free Electricity for 1 year X 1 winner

Important things to know
1. Contest run from 1 July 2008 until 31 August 2008 or until a total of 200 million in MaxFD deposits is received
2. Deposit 10 000 in a 24-month MaxFD (Type of Fixed Deposit) to get 1 entry
3. The MaxFD had the following rates
First 6 months – 3.70% p.a.
Next 7th month to 12th month – 3.80% p.a.
Subsequent 13th month to 18th month – 4.00% p.a.
Remaining 19th month to 24th month – 4.50% p.a.
4. Winner will be determined by random pick and short listed candidate are required to have a question and answer session
5. For early withdrawal of FD, interest will be paid based on 50% of the rate contracted at the point of withdrawal for the completed months subject to the completion of 3 months from the date of placement


HLB

Consolation prize X 48 winners
Grand price up to 3333 X 3 winners

Important things to know
1. Contest run from 1 July 2008 until 30 September 2008
2. Open via 500 for Junior/Senior savings or deposit 1000 for other deposit accounts. Sign up for a Savings Multiplier Plan (SMP) to get additional 20 entries. Every subsequent top up of 150 entitles you to 1 entry. Qualified deposit accounts must also maintain a min balance of 500 till 15 th Nov 2008 and the account must remain open at the point of draw.
3. The incremental deposit growth will be used to calculate their daily average balance for contest entries.
4. Grand prize winner are required to answer 2 questions correctly to win
5. Contestant must fill in the contest entry form by providing their Name, IC Number, e-mail address and hand phone number.

All in all, the contest above have various advantages and disadvantages depending how much money you have, period and the contest price

List of award
Most lucrative cash grand prize - RM 500 000 by EON Bank
Most lucrative non cash grand prize - BMW 320i by Maybank
Furthest closing date - 31st January 2009 by EON Bank
Shortest contest duration - 2 months by RHB Bank
Most attractive weekly prize - RM 5000 by RHB Bank
Most attractive prize winner - RM 20000 by EON Bank
Most number of prizes - 813 prizes by EON Bank
Most number of prizes in a month - 102 pries by EON Bank
Least amount required to participate - 150 for Savings Multiplier Plan by HLB Bank


Strategy to maximize the contest winning
1. Participate for Maybank, HLB for contest that closed between 31st August and 30th September
2. Withdraw all the money from Maybank and HLB if didn't win the contest
3. Put your money by 1st day of the month to EON Bank in the multiple of 1000 beginning from October 2008 till January 2009
4. Pray hard that you're one of the winner