RHB’s Cash Your Dreams Deposit Contest
Lately, banks are getting more generous with their money. They do not hesitate to throw out free money to you as long as in return, you willing to depart your money with them. The only up shot is, their generosity does not mean a higher and for sure interest rate for your money, instead, is in a form of “luck” i.e. contest cash prizes.
The latest cash contest campaign, RHB bank’s Cash Your Dreams contest , is another increasingly common deposit contest that entice consumers with cash prizes. If any, like the earlier Am Bank’s Mad Gold Rush contest, you can bet that more cash contests like this that used to be reserved for credit card related promotions, will became more and more frequent.
Contest overview
The basic contest mechanism of Cash Your Dreams contest is similar with others where winners will be randomly selected based on pre-determined sequence of order for a series of monthly and final prizes. But what sets this contest apart is it stretches over a period of 9 months - from April to December. The contest is then divided into 3 rounds of equal number of months and each round of contest comes with 24 cash prizes ranging from the grand prize of RM99,999 to consolation prize of RM3,999.
Main terms & conditions
To enter the contest, you have to purchase a ‘ticket’ in the form of opening or having a saving, current or multi currency account with at least an incremental amount of RM5,000 (for business account, RM10,000). In addition, you would also agree to hold that amount of money for a minimum 3 months. All this will earn you one entry ticket. You can enter as many as you want, as long as you met the requirements.
To continue participate in the 2nd, 3rd round, you have to hold the money for 6 & 9 months respectively. A standard p.a interest rate will be given if you deposited the money under the saving account.
Conclusion
Interestingly, the name of the contest says it all about this latest promotion by RHB – keep dreaming. There is no doubt that few lucky fellows will win these cash prizes but most will not -there are altogether 102 chances of winning any of those prizes. Called me old fashion and conservative, personally, I would rather get a FD for the RM5,000 and knowing for sure I will get my 3% p.a returns at the end of the day. But if you have big dream and believed you have all the luck, go for it.
Contest detail
- Contest period: 1st round – 1 Apr to 30 Jun; 2nd round – 1 Jul to 30 Sept; 3rd round – 1 Oct to 31 Dec.
- Prices for each round: Grand prize RM99,999 x 1; 1st prize RM33,999 x 1; 2nd prize RM22,999 x 1; 3rd prize RM11,999 x 1; Consolation prize RM3,999 x 20 and monthly prize RM999 x 10.
- To participate: To have a deposit or top up existing deposit of RM5,000 and hold that amount for a minimum 3 months, and fill up a contest form. To be eligible for the 1st round, customers must meet the required amount (incremental of RM5,000) and hold the money at least 3 months by 30 June. For the 2nd & 3rd round, customers must agree to hold their money for a minimum of 3 months by 30 September and 31 December respectively.
- To win: selected randomly based on predetermined sequence and answered all questions correctly.
Last Note
Again I was very disappointed on the quality of the call center service I received when I call up to get more detail of the contest. The call center does not know this promotions well and was giving conflicting info on the contest as compared to the printed materials.