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Wednesday, January 10, 2007

Bank Cash Awards - Getting Paid for Studying Hard

Posted by Chong

Did the title catch your attention? Do you need a new motivation to study hard? Believe it or not, I did get paid for studying hard! Now I am going to tell you how to do so in this post with the hope that the cash awards offered by a few banks would motivate you to study harder and get better results.

Some of you might have known that there are a few banks in Malaysia depositing money to the account holders who score well in major examinations, namely Ujian Penilaian Sekolah Rendah (UPSR), Penilaian Menengah Rendah (PMR), Sijil Pelajaran Malaysia (SPM) and Sijil Tinggi Persekolahan Malaysia (STPM). These banks give “free money” in order to attract new teenage customers. You lose nothing other than a few hours and RM10.00 for opening a new account in these banks. Please bear in mind that the minimum initial deposit for new accounts for most of the banks is RM250.00. Meanwhile, you will receive free money in terms of a few hundred ringgits if you score well in the major examinations.

I did not realize the existence of such opportunities and have missed them for my excellent UPSR and PMR exam results. Otherwise, I will have a few more hundred ringgits in my bank accounts now. I still sigh for this big loss today. :( Few hundred ringgits are something very big to me due to my family’s poor financial background. Laments aside, let us move on.

Basically you need to open a correct type of bank account and be the account holder for more than a year at the official date of the announcement of the exam result to be eligible for the “free money” offer. In addition, you must maintain a minimum amount of money in your bank account throughout the year. For instance, to be eligible for Maybank cash award, I must maintain at least RM500.00 in my Yippie Club Savings account which has been opened for at least a year. In other words, to qualify for these cash awards with your SPM or STPM 2007 examination results, you should have opened the correct type of bank accounts before March this year since the exam results are often announced in March every year.

How to be Eligible for Cash Award?
Bank Acct. Type Min. Deposit (RM) Exam Result Comment
EON Bank Berhad Smart Junior 250.00 Straight As (9A1s or above for SPM) Cash award is eligible once only. If you have won the award for your PMR, you will not be eligible for SPM cash award. SPM - RM400.
Malayan Banking Berhad (Maybank) Yippie Club Savings
500.00 Straight As The account holders for Kelab Yippie account must be your parent and you. SPM - RM300.
Hong Leong Bank Berhad Junior Savings 250.00 Straight As Update: Cash award is no longer offered. SPM - RM300.

Some banks that I have confirmed for not offering such cash incentives are Public Bank Berhad, CIMB (formerly Bumiputra-Commerce Bank Berhad) and Bank Simpanan Nasional. Please check with the person at the customer service counter before opening a new account. If you find other bank offering such cash incentives but not listed in this post, please share it with us by leaving a comment on this post. Help us help others; this is how Malaysia Students blog works.

Besides the cash incentives by the local banks, I believe your school and state government will pay you for scoring well in the major examinations. Moreover, you might be rewarded by your parents and relatives if you pass these examinations with flying colours. Furthermore, more award and scholarship opportunities such as KUOK Foundation Undergraduate Awards and JPA scholarships will open up to you when your exam results are good. So, start preparing yourselves for the examinations today!
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Comments
9 Comments

9 comments:

  1. dear chong...i am a member of the Yippe Club Savings and i recently get my SPM result..just wanna ask whether i need to go into somewhere to get the application form or just sit at home and wait for the money to be deposited into my account by itself...?...i'll be gratefull if you can help me with this ^^

    ReplyDelete
  2. Yes, you need to go Maybank to fill the form. Otherwise, how could Maybank know that you got the good SPM result? Keep it up!

    ReplyDelete
  3. Hello,do we need to get band 6 for MUET besides getting straight A's in stpm in order to get the cash reward?

    ReplyDelete
  4. No, as long as you get straight A for STPM, you are eligible for the cash reward. MUET result is not the requirement.

    ReplyDelete
  5. it's me..i have gone to Maybank and filled up the form and sent it in with my photo copied result slip,ic...ect.
    but i just wondering when will i get the money or will they contact me to notify whether i m given the award or not.the kerani ask me to give her 1 week,it is 3 days left.so i m still waiting..
    anyway, thank you for your reply^^

    ReplyDelete
  6. hello.. may i know how to apply for the state governtment award? I'm spm leavers who scored straight As

    ReplyDelete
  7. Academic Excellence Award for UPSR, PMR, SPM, STPM.
    -bank simpanan malaysia-Chess Acount

    -Public Bank-Bright Star Savings Account

    ReplyDelete
  8. My daughter got 8As in PMR 2011 and got the rewards from Maybank (RM100-00)in a few days time after I submitted all the necessary form. My son just got 11As in SPM 2011 and I just went to Maybank to submit all the necessary forms, expected to receive RM200-00 in a few day time too. FYI, for STPM is RM300-00.

    ReplyDelete
  9. hi,my daughter got UPSR 7As , but i unable to see further or application site of ACADEMY EXCELLENCE REWARD as for Public Bank i could go in easily.

    ReplyDelete

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