Recently, Public Bank wrest its muscle to attracts depositors to place their money with them. This has becomes an annual promotional event to get as much deposits after Chinese New Year. The reason was simple: CNY Ang Pow money... What is so exciting this round? The campaign is open to all new and existing Public Bank individual customers from 28 Jan till 30 June 2014. All you need to do by placing a minimum RM30,000 deposit . Then, it will be separated into 2 portions, 80% in Special Fixed Deposit (FD) and 20% in Saving Account (SA). Yes. Depositors can get up to 8.88% p.a. interest on a step-up basis on the 12th month. Can you get it? It's 8.88% p.a. on the 12th month ONLY, not the whole tenure. So, what's the EFFECTIVE rate that I can get? Please refer to the below picture... Not bad what... Wait... This is only on the 80% FD portion. If you add in the 20% SA portion to the whole principal that you have placed, it's lower than 4.33% p.a . actually. Anyway, it's
