A saving habit that rewards

They say the future is unpredictable, but here at Baiduri Bank, the future is where we envision successfully achieving our goals, big and small. All of it begins with what you can save today.

Whether it’s opening your first savings account, or taking full control of your finances, we’ll be there to guide you every step of the way.

From now until 30 September 2023, earn one chance in our monthly and grand draws for every BND500 increase in your total average daily balance.

Terms & Conditions
“A Saving Habit that Rewards” (this “Promotion”) Terms and Conditions

1. Promotion Eligibility

1.1 This Promotion begins on 1 April 2023 and ends on 30 September 2023, both dates inclusive (the “Promotion Period”).

1.2 This Promotion is open to all new and existing customers of Baiduri Bank and/or Baiduri Finance (collectively, “the Group”) who (i) open and maintain or (ii) maintained the following personal or joint accounts with the Group (“Eligible Accounts”) and such Eligible Accounts with the Group are in good standing during the Promotion Period (“Eligible Customers”):

Baiduri Bank Savings account (BND and any foreign currency)
Baiduri Bank Current account (BND and any foreign currency)
Baiduri Bank Fixed Deposit account (BND and any foreign currency)
Baiduri Finance Multi-tier savings account (BND and any foreign currency)
Baiduri Finance Multi-rate savings account (BND and any foreign currency)

1.3 Eligible Accounts which have been suspended, cancelled or terminated by the Group at any time during the Promotion Period will be disqualified from participating in this Promotion.

1.4 Employees of Baiduri Bank and its subsidiary companies are not eligible to participate in this Promotion.

2. Promotion Mechanics

2.1 For the purpose of allocating lucky draw chances, an Eligible Customer is defined as follows:

a) For single account: The accountholder who owns the account

b) For joint account: The group of accountholders who share joint ownership of the account. Each group of accountholders under the same customer identification number is considered a unique Eligible Customer, regardless of the number of joint accounts they own.

2.2 An Eligible Customer will receive one (1) lucky draw chance for every BND500 increase in their Total Average Daily Balance from the base month balance. Refer to table in clause 2.4 below for illustration.

2.3 Total Average Daily Balance is defined as the sum of Average Daily Balance for all Eligible Accounts held.

Average Daily Balance for an Eligible Account is defined as the sum of end of day balances for the month divided by the total number of days within the month.

Here is an example of how Total Average Daily Balance is calculated for an Eligible Customer with three Eligible Accounts:

Eligible Account
Average Daily Balance for March 2023
Total Average Daily Balance for March 2023
Baiduri Bank Savings Account
BND500

Baiduri Bank Current Account
BND3,000
BND5,350
Baiduri Finance Multi-tier Savings Account
BND1,850

2.4. Draw chances are calculated monthly by comparing the Total Average Daily Balance for the qualifying month with the base month balance.

For the purpose of calculating draw chances, base month is defined as March 2023. Refer to table below for illustration:

Qualifying month
Total Average Daily Balance
No. of chances earned
Remarks
March
BND500
(base month)
0

April
BND1,000
1
An increase of BND500 from base month balance
May
BND2,500
4
An increase of BND2,000 from base month balance
June
BND1,200
1
An increase of BND700 from base month balance
July
BND500
0
No chances earned as there is no increase from base month balance
August
BND300
0
No chances earned as balance falls below base month balance
September
BND600
0
No chances earned as the increase from base month balance is below BND500

Total accumulated draw chances
6

2.5 Draw chances earned by an Eligible Customer under joint accounts will be accumulated at the group level, and will not be added to or pooled together with any draw chances earned by the individual joint accountholders for Eligible Accounts that they personally own.

2.6 For the purpose of calculating the draw chances, deposits denominated in foreign currencies will be converted to Brunei Dollar at the prevailing exchange rates each end of month.

3. Lucky Draw

The lucky draw comprises of six (6) Monthly Draws and a Grand Draw.

3.1. Monthly Draws

3.1.1. Only draw chances earned in each respective Transaction Qualifying Period will be used for the monthly draw. Draw chances earned in previous Transaction Qualifying Period(s) will not be carried forward.
Five (5) winners will be selected at random in each Transaction Qualifying Period through a computerised draw to win the prizes as detailed in table below.

Transactions Qualifying Period
Monthly Prizes
Number of winners
Total Monthly Prizes
1 – 30 April 2023
BND1,000
5
BND5,000
1 – 31 May 2023
BND1,000
5
BND5,000
1 – 30 June 2023
BND1,000
5
BND5,000
1 – 31 July 2023
BND1,000
5
BND5,000
1 – 31 August 2023
BND1,000
5
BND5,000
1 – 30 September 2023
BND1,000
5
BND5,000
3.1.2. Winners for the monthly draws will still be eligible for the Grand Draw.

3.2. Grand Draw

3.2.1. A Grand Draw will be held at the end of the Promotion Period.

3.2.2. Total accumulated draw chances for each Eligible Customer will be used for the Grand Draw. In other words, draw chances earned in all Transaction Qualifying Periods will be pooled together.

3.2.2. Three (3) winners will be selected at random through a computerised draw to win the following prizes:

Prize
Monthly Prizes
Grand Prize
BND50,000
2nd Prize
BND20,000
3rd Prize
BND10,000
3.3. Winners’ accounts must be active on the date of the lucky draw. Accounts closed prior to the end of the Promotion Period will not be eligible.

3.4. All winners will be notified by phone based on their registered phone number(s) in the Group’s record.

3.5. The Group reserves the right to draw reserve winners to substitute any winner subsequently found to be disqualified. The Group’s determination of the winners shall be final, conclusive and binding. No correspondence or claims will be entertained.

3.6. Prizes must be collected in person or by an authorised representative at the prize presentation event as determined by the Group. The authorised representative must present the original authorisation letter from the winner and the said representative’s original identity card at point of collection.

3.7. Prizes will be credited into the winners’ accounts within fourteen (14) working days from the prize presentation date.

3.8. The Group shall be entitled to use the names, identification numbers and pictures/photographs of the winners and/or their authorised representatives for publicity materials; and may engage any winners and/or their authorised representatives for its publicity purposes without any compensation whatsoever and in such manner as it determines.

4. General

4.1 This Promotion is governed by Baiduri Bank’s and Baiduri Finance’s terms and conditions on the related products and any other documents forming the agreement.

4.2 The Group may, at any time and without prior notice or liability to any party, suspend or terminate this Promotion or vary these terms and conditions.

4.3 The Group reserves the right to determine at its sole and absolute discretion all matters arising out of or in connection with this Promotion. The Group’s determination of all matters relating to this Promotion shall be final and conclusive and no correspondence will be entertained.

4.4 In the event of any inconsistency between these terms and conditions and any advertising, promotional, publicity and other materials relating to or in connection with this Promotion, these terms and conditions shall prevail.

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