Quarterly Merchandise Redemption:
Calculating Your Average Quarterly Balance &
CIMB YOUth Points
1.
How is the 'Quarter' defined?
The Quarter is always defined as follows:
Quarter
Quarter 1
Months
Jan, Feb & Mar
Redemption Period
From 9am of 2nd Saturday of
April onwards
Quarter 2
Apr, May & Jun
From 9am of 2nd Saturday of
July onwards
Quarter 3
Jul, Aug & Sep
From 9am of 2nd Saturday of
October onwards
Quarter 4
Oct, Nov & Dec
From 9am of 2nd Saturday of
January onwards
2.
How is the 'CIMB YOUth Points' calculated?
The CIMB YOUth Points is calculated by having your Average Quarterly Balance
divided by RM500, and rounding the result to the lower integer.
3.
How is the 'Average Quarterly Balance' calculated?
The Average Quarterly Balance is calculated by taking the sum of Average
Monthly Balances of the 3 months in the quarter and dividing them by 3 (the
number of months in the quarter).
4.
How is the 'Average Monthly Balance' calculated?
The Average Monthly Balance is calculated by taking the sum of Daily Balances
of each days in the month and dividing them by the number of days in that month.
5.
How is the 'Daily Balance' calculated?.
The Daily Balance is taken as the total amount of savings you have in your
account each day.
Please refer below to the below table for examples of Average Quarterly Balance &
CIMB YOUth Points calculation.
Scenario 1:
Let's assume that you have recently opened the account on the 14th of June, with
RM4,000 initial deposit. You then subsequently deposited another RM1,000 on the 24th
of June.
This is how your Average Quarterly Balance & CIMB YOUth Points will be calculated.
Scenario 2:
Let's assume that you are an existing CIMB YOUth customer and have a balance of
RM500 in your account as at 31st of March. You save regularly by depositing RM1,000
on 17th of May, RM1,500 on the 5th of June, and RM2,500 on the 23rd of June. You
also have made a withdrawal of RM1,500 on the 25th of June.
This is how your Average Quarterly Balance & CIMB YOUth Points will be calculated.