March 26, 2010

AFFINBANK's new AffinFDPLUS² targets savvy customers

KUALA LUMPUR, Friday (March 26, 2010): Affin Bank Berhad (AFFINBANK) today launched its latest fixed deposit product, Affin Fixed Deposit PLUS² (AffinFDPLUS²), with competitive features that will benefit customers who seek higher interest returns and the convenience of converting to Foreign Currencies (FCY).

AffinFDPLUS² allow customers with local currency fixed deposit (MYR FD) accounts to gain higher interest by converting their MYR FD into any FCY at prevailing published rates. Customers' MYR FD must be converted into any of the Bank's six chosen international currencies i.e. USD, GBP, Euro, NZD, AUD, and SGD within the 3-month tenure*. Through the conversion into FCY, customers can gain extra spread of up to 1.01% on top of their current MYR FD interest.

This conversion will be useful for customers who owns foreign currency account (FCA) investments or for those who wish to remit funds abroad for education or other purposes, which are allowed within the foreign exchange administrative rules.

AFFINBANK Director of Consumer Banking En. Idris Abd Hamid says, "As the global economy improves, we see customers seeking ways to maximise their returns. Many of our customers have children studying, or business interests, overseas. The AffinFDPLUS² will benefit customers looking for highest interest returns in the interim to remit/ convert to Foreign Currency."

Idris further adds, "This new product is part of AFFINBANK's ongoing efforts to offer creative and innovative products with tangible value to consumers to support their financial needs. The extra spread gained provides our customers a greater incentive to place their FDs with AFFINBANK because customers will now get a higher return for their deposits."

Other key features of AffinFDPLUS² include:

Affin FD PLUS² is one of the AFFINBANK's new initiatives to complement the Bank's existing deposit product, AffinFDPLUS. For further information on these products mentioned, please call 03-5522 3000.

 *Rates valid until 26 April 2010
 *Terms and Conditions Apply

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