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.
| 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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