UOBM Wealth Premium Account Bonus Interest Campaign Terms and Conditions

Transcription

1 Campaign Period UOBM Wealth Premium Account Bonus Interest Campaign Terms and Conditions 1. The UOBM Wealth Premium Account Bonus Interest Campaign ( Campaign ) is organized by United Overseas Bank (Malaysia) Bhd (Company No K) ( UOBM ) and will run from 2 nd May 2016 to 31 st January 2017, both dates inclusive ( Campaign Period ). Eligibility 2. This Campaign is open to all new and existing UOBM individual customers who are Wealth Premium account holders ( Account Holders ) with valid and active account ( Participating Account ). 3. For the purpose of this Campaign, joint account holders of the Participating Account will be treated as one account holder. 4. The following persons/entities shall NOT be eligible to participate in this Campaign: a) sole proprietorship, partnership, charitable/non-profit organization/societies, corporate and commercial customers; b) UOBM Private Banking Customers; c) Flexi Mortgage account holders and all other accounts other than the Participating Account stated under Clause 2 above; d) any Participating Account held with UOBM that are delinquent or unsatisfactorily conducted as determined by UOBM at its sole and absolute discretion; and e) persons who are or have become insane, deceased, adjudicated bankrupt or have legal proceedings of any nature instituted against them. Campaign Mechanics and Conditions 5. The Account Holders will earn the current prevailing interest rate in their Participating Account based on their respective Asset Under Management ( AUM ) tiers. The prevailing interest will accrue on a daily basis and be credited to the Participating Account monthly at the end of the month. The current prevailing interest rates per annum ( p.a. ) based on the Account Holders AUM tiers are as below: Current Prevailing Interest Rate for Wealth Premium Account based on Asset Under Management Assets Under Management (AUM) Prevailing Interest Rate* (% p.a.) Up to RM 50, Up to RM 100, Up to RM 150, Up to RM 200, Up to RM 250, Above RM 250, *Interest rates are subject to changes in Overnight Policy Rate (OPR) Page 1 of 5

2 6. Apart from the current prevailing interest earned, the Account Holders can earn 2% p.a. Bonus Interest ( Bonus Interest ) during the Campaign Period, subject to the fulfillment of the requirements set out in these terms and conditions. 7. In order to be entitled to 2% p.a. Bonus Interest, the Account Holders must: (i) maintain a positive growth in their AUM (as defined in Clause 8) throughout the Campaign Period; and (ii) maintain a minimum Incremental Balance (as defined in Clause 9) of RM50,000 in the Participating Account for a particular participating month. For the avoidance of doubt, the requirements set out in Clause 7 hereof must be fulfilled within the same participating month for the Account Holders to be eligible to earn Bonus Interest for that particular participating month. 8. The AUM as stated in Clause 7 is defined as total account balances from all Current Accounts (excluding Flexi Mortgage Account), Savings Accounts, Fixed Deposit Accounts and total investments held by the Account Holders in UOBM as at 30 th April 2016 ( Baseline ). If the AUM decreases below the Baseline in any particular participating month during the Campaign Period, Bonus Interest will not be paid for that particular participating month. For Account Holders who open their Participating Account during any of the Participating Month, the Baseline for that month will be zero. In the subsequent months, the baseline will refer to the month end AUM balance of the opening month of the Participating Account. Account Holder Existing WPA (Opened WPA account before 30 th April 2016) New WPA (Opened WPA account after 30 th April 2016) Participating Month 1 Baseline Participating Month 2 and subsequent Months AUM as at 30 th April 2016 AUM as at 30 th April 2016 Zero AUM as at end of Participating Month 1 9. Incremental Balance means the Incremental Average Balance (as defined in the table below) of the Participating Account calculated based on the current month Daily Average Balance minus the previous month Daily Average Balance, more particularly described as follows: Previous Month Daily Average Balance ( DAB ) Current Month Daily Average Balance ( DAB ) Incremental Average Balance ( IAB ) Calculation Sum of daily end day balances for Base Period Number of days in the Base Period Sum of daily end day balances of the Participating Month Number of days of the Participating Month Current Month DAB Previous Month DAB 10. Bonus Interest is only payable on the incremental balance in the Participating Account per month throughout the Campaign Period and is subject to a maximum of RM500,000 monthly incremental balance. Page 2 of 5

3 11. The computation of Bonus Interest is as follows: Incremental Average Balance x Bonus Interest Rate x No. of days in the respective participating month 365 days 12. The Participating Months and their corresponding Base Period are as per the table below: Participating Month Base Period 2 May May April April June June May May July July June June August August July July September September August August October October September September November November October October December December November November January January December December The Account Holders may be eligible for Bonus Interest in one of the Participating Month within the Campaign Period, but may not be eligible for Bonus Interest in the following month, if the criteria set out in Clause 7 are not met within that Participating Month. 14. Bonus Interest will be credited into the Participating Account of the Account Holder on or before the following dates: Participating Month Bonus Interest Crediting Period (Not later than) 2 May May July June June August July July September August August October September September November October October December November November January December December February January January March 2017 Page 3 of 5

4 15. Monies derived from Bonus Interest will not be eligible for any other UOBM s campaigns, including but not limited to UOBM Savings Plus Bonus Interest Campaign and UOBM High Yield Account Bonus Interest Campaign. No other special, additional, preferential rates and/or gift shall be given to the Account Holders by UOBM under this Campaign. 16. In the event that the Participating Account is suspended or closed before the crediting of Bonus Interest into the Participating Account, UOBM reserves the right to forfeit the Bonus Interest payment. General Terms and Conditions 17. By participating in this Campaign, the Account Holders agree to be bound by these terms and conditions and the terms and conditions governing the Participating Account including any amendments and/or variations to it and the decisions of UOBM in connection with any matter relating to this Campaign shall be final, conclusive and binding on the Account Holders. No appeals and/or correspondence from any Account Holders will be entertained. 18. UOBM shall not be responsible nor shall accept any liabilities of any nature and however arising or suffered by the Account Holders resulting directly or indirectly from this Campaign. 19. UOBM shall not be liable for any misinterpretation or misrepresentation of facts by any unauthorized third party in respect of this Campaign which is published in any media, marketing or advertising materials. 20. To the fullest extent permitted by law, UOBM expressly excludes and disclaims any representations, warranties or endorsements, express or implied, written or oral, without limitation to those published in any mass media, marketing or advertising materials, including but not limited to, any warranty of quality, merchantability or fitness for a particular purpose in respect of this Campaign. 21. In the event of any inconsistency between these terms and conditions and any advertising, campaign, publicity and other materials relating to or in connection with this Campaign, these terms and conditions shall prevail. 22. UOBM reserves the right at its absolute discretion to cancel, withdraw, suspend, extend or terminate this Campaign prior to the expiry of the Campaign Period, wholly or in part, at any time with prior notice. For the avoidance of doubt, cancellation, withdrawal, suspension, extension or termination by UOBM of this Campaign shall not entitle the Account Holders to any claim or compensation against UOBM for any and all losses or damages suffered or incurred by the Account Holders whether as a direct or indirect result of such cancellation, withdrawal, suspension, extension or termination. 23. UOBM reserves the right to add, delete and/or vary these terms and conditions, from time to time, wholly or in part, at its absolute discretion, by providing prior notice to the Account Holders through posting on UOBM s website, displaying a notice at any of UOBM s branches, a statement insert in the Statement of Account, or any other manner as determined by UOBM from time to time. 24. By participating in this Campaign, the Account Holders consent to UOBM disclosing the personal data and photographs of the Account Holders for publishing in any mass media or marketing materials for advertising or publicity purposes in any manner as and when UOBM deems necessary with written consent from the Account Holders. Page 4 of 5

5 25. All placements by the Account Holders pursuant to this Campaign shall be eligible for protection by Perbadanan Insurans Deposit Malaysia ( PIDM ) subject to the terms & conditions of PIDM. 26. These terms and conditions shall be governed by and construed in accordance with the laws of Malaysia and the Account Holders agree to submit to the non-exclusive jurisdiction of the courts of Malaysia. [END] Page 5 of 5