Corp News

Maybank targets RM3.25 B increase in deposits in campaign

09 December 2009

4 min read

Maybank is targeting to increase deposits by RM3.25 billion during the current four-month period compared to the preceding period through its ‘Maybank Extra Rewards' Deposit Campaign which promises rewards for every single customer who has a RM500 increase in savings or current account each month.

The ‘Maybank Extra Rewards' Deposit Campaign is unlike other campaigns which offers prizes to selected winners only upon completion of the promotion period. It is the "first of its kind" deposit campaign to provide assured rewards to all qualified depositors.

In addition to special discount offers for the RM500 increase in deposits, it also offers all customers a chance to win attractive monthly prizes during the campaign.

Maybank Head of Consumer Banking, Lim Hong Tat said this new programme was in line with the bank's commitment to continuously offer innovative rewards to its customers as well as maintain its leadership in the loyalty programme segments. Maybank's TreatsPoints programme already scored a first in 2008 with the offer of rewards point for debit card spend in addition to credit card charges.

"We recognise that given the prevailing interest rate environment customers are continuously looking for extra returns from their savings," Lim said.

Under the promotion, customers who meet the respective deposit growth requirement in any Maybank conventional or Maybank Islamic (except Wadiah deposits) Current Account, Savings Account, Foreign Currency Account, Fixed Deposit Account and Gold Savings Passbook Account are assured of rewards.

These rewards comprise special discounts when purchasing items from renowned retailers for dining, entertainment, household products, fashion and travel. They also stand a chance to win monthly prizes of electronic products as well as Grand Prizes comprising cruise packages to Scandinavia & Russia, the Mediterranean and Alaska.


Lim said that the campaign was designed in response to customer feedback. "Customers prefer tangible rewards over campaigns that only offer prizes where chances of winning are restricted to a few prizes. The Grand Prizes are a bonus to those who save more and our way of rewarding customers for their continued support."

"Maybank Extra Rewards campaign period is paced to coincide with periods of the year where savings can be put to good use, such as for the start of the new school term and major festivities. It is one way of helping customers benefit more from their relationship with Maybank," said Lim.

Lim added that the previous four-month deposit campaign held from mid February to end June 2009, registered a positive growth of RM1.45 billion. "The last campaign was successful despite the challenging economic environment as well as issuance of Amanah Saham Malaysia, Amanah Saham Wawasan 2020, Bon Simpanan Merdeka and Sukuk Simpanan Rakyat totaling RM12.33 billion during that period.It shows that Maybank offers good value in traditional savings products, both in terms of its features as well as rewards."