Bugger it! How can I refuse such an offer. Much better than the free toaster Bank of Hawaii gave me
SCIB offers amulets to depositors DARANA CHUDASRI
Nakhon Si Thammarat _ Siam City Bank is tapping Jatukarm Ramathep fever by offering amulets to new depositors.
The bank is investing five million baht to give away 130,000 free Thanasap edition amulets to new account owners. It is part of a policy to lift deposit accounts by 40% to help reduce funding costs and increase net interest margins, according to president Chaiwat Utaiwan.
A total of 150,000 amulets will be produced to mark the bank's 66th anniversary this year, with 20,000 distributed to employees and the rest to new customers opening accounts of at least 30,000 baht, or buyers of the Max 10/6 and Max 20/10 insurance products.
Cheard Suppana, a SCIB executive vice-president, played down suggestions that the bank was taking advantage of the huge popularity of Jatukarm amulets to boost its profits.
''We look at it differently. Every single day, the bank presses its customers to use our services, to buy our bancassurance products. Now we're inviting our customers to join us and make merit.''
The bank hopes to attract 500,000 Savings Buffet customers this year, with a deposit target of 25 billion baht. Some 220,000 accounts have already been opened to date, with deposit funds of 23 billion baht.
The Savings Buffet accounts offer annual interest rates of 1%, compared with standard rates of 0.75%.