SUNWAY COLLEGE JOHOR BAHRU

MPU 3312
BANKING & FINANCE
GROUP ASSIGNMENT 1
FEBRUARY 2017 TO JUNE 2017

Instructions:

 Type your assignment.

 Marks will be awarded for points and good presentation.
 NO marks will be awarded if any part of this assignment is found to be copied directly from
printed materials or from another student.
 Complete this cover sheet and attach it to your assignment.

Students’ Name Students’ ID

1. LEE QIAO SI 13024773

2. TIEN XUE LI 13038880
3. BRIAN PHANG EE WEI 16055980
4. PHANG SHER TING 15104920
5. ONG GIA SHENG 14045652
6. LAU CIN YIN 14069215
7. LOH ZI QI 14006167
8. LEE SHU XIN 14023634
9. GOH CHANG HUI 13043138

Lecturer’s Name
Mr. John Ng Tuan Peng

Marks
Write-Up

Presentation

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 Table Contents
A) Product features ............................................................................................... 3

B) Interest rates ..................................................................................................... 3

C) E-payment ........................................................................................................ 5

D) Fees imposed.................................................................................................... 5

E) Existing branch network .................................................................................. 6

F) Existing internet infrastructure ......................................................................... 7

G) Customer service & after sales service ............................................................ 8

H) Branch’s location ........................................................................................... 10

I) Comparison between Maybank & Hong Leong Bank .................................... 10

J) Recommendations ........................................................................................... 14

Appendices .......................................................................................................... 14

References ........................................................................................................... 17

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A) What are its Product Features? You are clearly specific what are the criteria involved in
the placement/opening of this product with Bank that you have selected. In your presentation,
you have to state the comparative advantages that the bank possesses if compare to its
competitors?

After the group having their own with its group members, they have decided to choose
Maybank Banking Berhad. Maybank is the top five banks in South East Asia. The total assets
of Maybank are USD165 billion. Maybank had expanded their business to 20 countries with
2,400 branches and offices while employing 45,000 employees approximately (Malayan
Banking Berhad 2016 k). Maybank not only just provide basic saving account, they also offer
other types of saving account which based on customers’ demand such as Maybank2u Savers,
Golden Savers Savings Account, Imteen Account, Yippie Savings Account and many more
(Malayan Banking Berhad 2016 m).

Among all these saving accounts, the group have decided to choose Kawanku
Savings Account. However, customers have to follow some requirements in order to open a
Kawanku Savings Account. First of all, customers are required to provide their original Identity
Card (IC) as to prove that they are a Malaysian whereas foreigner are required to provide their
passport and some other supporting documents such as valid visa, student or working permit
in order to register the account. Every saving accounts in Maybank must have a minimum
deposit of RM 20 but for Kawanku Savings Account, it has divided into two categories. Firstly,
customers have to deposit for RM 50 with letter of employment and then deposit for another
RM 250 for individual purpose, which eventually formed a joint and minor account (Malayan
Banking Berhad 2016 h).

Furthermore, there are some features after registered this Kawanku Savings Account. Kawanku
Savings Account is split-tier interest rates. This means that, customers will get paid in an
increasingly higher interest rates as the account balance increases (Investopedia, LLC 2017 b).
Besides, it will have credited half-yearly in June and December. Other than that, Maybank also
offered the convenience of an Automated Teller Machine (ATM) card or Debit Card instead of
a passbook and online banking via Maybank2u. Kawanku Savings Account allow to ATM
access and cashless shopping which mean that customers will no need to carry a lot of cash
when they shop. In fact, they just have to present their ATM card and customer’s bank account
will have debited for the payment immediately (BancNet 2017). Through auto debit service

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provided by Maybank, customers have no worries about the late payment. In addition, there is
no limit for transactions as long as the account balance is sufficient enough to pay the bill
(Malayan Banking Berhad 2016 c).

This Kawanku Savings Account can be applied by individuals, clubs, societies or association.
For the joint account, maximum person is up to four persons.

B) What are the interest rates quoted for this product? Is there a minimum balance imposed
to qualify for this interst rate? Is the Bank offering single tier or multi- tier interest rates and
what is the amount to be deposited to enjoy the interest rates and what is the period imposed?

Maybank had provided two types of interest rate for Kawanku Savings Account, which are
nominal and effective rates. Nominal interest rates are referring to the interest rate before
considering inflation. In order words, it can also refer to as stated interest rate on a loan, without
taking into account of any expenses or compounding of interest (Investopedia, LLC 2017 a).
While, effective interest rates are the actual interest that customers will pay on a loan or receive
from the deposit account. However, the interest rates are depending on frequency of
compounding the effect of the inflation (WebFinance Inc 2017). In Kawanku Savings Account,
the nominal rates and effective rates are both multi-tiered interest rates which calculated daily
and credited half-yearly in June and December.

In this report the group will only focus on nominal interest rates. The reason we choose nominal
interest rates is because effective interest rate cannot be accurate without understand the
compounding frequency and the rate (Prof.G.Elias). The highest nominal interest rates in
Kawanku Savings Account are up to 1.2 percent per annum (p.a.) and required bank account
balance with at least RM500,000 and above. Due to the Kawanku Savings Account is a multi-
tiered interest rates account, therefore it divided into eight groups. The balance amount that is
below than RM1, 000 and the amount is within RM1, 000 to RM10, 000, then the nominal
rates are the same which is 0.30 percent p.a. If the amount is between RM10, 000 to RM25,
000, then the nominal rates that Maybank will provide are 0.35 percent p.a. If the amount is
within RM25, 000 to RM50, 000, then the nominal rates will be 0.40 percent p.a. If the amount
is in between from RM50, 000 to RM100, 000, then the provided nominal rates will be 0.65
percent p.a. If the amount is more than RM100, 000 but is below than RM200, 000, then the

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nominal rates are 1.10 percent p.a. The second highest nominal rates are 1.15% percent p.a.,
which required the balance amount above is within RM200, 000 to RM500, 000 (Malayan
Banking Berhad 2016 h). All these nominal interest rates distribution are effective from 16
August 2016. Besides that, Maybank have the right to change all the interest and dividend rates
quoted may change without any notice (Malayan Banking Berhad 2016 h).

C) Does this product allow E-payment facility? Name some of the end-users that are listed by
the Bank that would allow the customer to make payment. (E.g. TNB, Astro, Credit Card
Companies, etc.).

Maybank Kawanku Savings Account also allow for e-payment facility to customer. The
Maybank2u.com that is an online banking website that allow customers to make payment
through online via their ATM or debit card. There are several end-users listed by the Maybank
which allow the customer to make payment, for example ASTRO, Celcom, Dewan Bandaraya
Kuala Lumpur - Cukai Taksiran, Indah Water Konsortium Sdn Bhd, MAXIS, Syarikat Bekalan
Air Selangor Sdn Bhd (SYABAS), Telekom - Tel and Multimedia, Telekom – UniFi and
Tenaga Nasional Berhad. Those listed corporations as above are the top 10 payees of the
Maybank (Malayan Banking Berhad 2016 n).

Maybank also allow credit card cardholders for using e-payment facility. It is very convenience
and time saving for customers who wants to pay bills at home or in the office. Meanwhile,
Maybank2u has provided a function to customer in order for them to make their bill payments
schedule in order to avoid late payments. It also provides Recurring Payment function for
customers to make payments through automatically deducted from their account as well
(Malayan Banking Berhad 2016 o). Therefore, with these facilities provided by Maybank,
customers can easily make their payments on time and can make their payment at anytime,
anywhere provided that they have an internet connection.

D) What are the fees imposed by the Bank for this product? Is it on a yearly basis or is it by
per transaction basis? Or did the Bank specify that a certain number of transaction are free,
thereafter which fees would be imposed.

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The Maybank Kawanku Savings Account has the fees imposed for applying a new account.
The minimum deposit for a person who apply the account with letter of employment will be
RM 50 and deposit of RM250 for individual, joint and minor account. (Malayan Banking
Berhad 2016 h).

This type of savings account will provide the option of a savings passbook or an ATM card.
Therefore, the penalty charge for the replacement of loss of savings passbook and an ATM
card are RM 15 and RM 12 respectively. The bank will charge RM 10 for the replacement if
users are poor handling the savings passbook. If an account closed within three months from
the activation date, then it will be charged for RM 20 and cash withdrawals at ATM facilities
from other bank will be charge for RM 1. Those listed fees as above are exclusive of Goods
and Services Tax (GST) (Malayan Banking Berhad 2016 h).

The savings account can be registered as Maybank2u account to conduct internet banking
transactions. The transfer funds through Maybank2u or ATMs will be charge for free when it
is in between their own account or to other Maybank account. Unfortunately, Maybank do not
specify any numbers, which is free if they have done their transactions through online. In fact,
Maybank will charge according to the options if customers transfer funds via Maybank2u to
other banks like CIMB, Public Bank or RHB Bank, then Maybank. Firstly, if it is an online
Interbank General Interbank Recurring Order (GIRO), in short, it was named as IBG, then
Maybank will charge the customers for RM 0.11 per transaction meanwhile RM 0.53 per
transaction for instant interbank fund transfer. The instant transfer via ATMs is RM 0.53 per
transaction (Malayan Banking Berhad 2016 e). The Maybank2u account holders who perform
transactions in the counter will be charge for RM 5.30 per transaction. Moreover, RM 8 will
be charged for unlimited withdrawals per year (Malayan Banking Berhad 2016 i).

E) Would the bank’s Existing Branch Network have any impact in the selection of this
product? If it does, your group is to submit relevant reasons to support this criteria.

Maybank is the largest bank in Malaysia. It has a strong 49 branches network throughout in
Johor areas (Malayan Banking Berhad 2016 g). It provides convenience for the customers as
the branches are near to those residential areas and they do not have to travel a lot in order to
apply a saving account. Besides, if they meet some account problems, they can immediately

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reach to the branches of Maybank for help and to solve their problems as soon as possible.
Besides, Maybank has a strong global network of over 2,200 offices in 20 countries including
10 ASEAN countries, which are Singapore, India, Indonesia, Thailand, Vietnam, Philippine,
Pakistan, Hong Kong, and Malaysia (Malayan Banking Berhad 2016). This means that the
Maybank’s customers can easily access to the foreign market and make a transaction easily
between two different countries through online.

Furthermore, Maybank also cooperate with MEPS (Malaysian Electronic Payment System)
ATM network which allow those Maybank’s customers can make some requirements for
several convenient features such as cash withdrawal, balance inquiry services, instant transfer
and settlement of credit card and loan are readily available at all MEPS ATM machines
(Malaysian Electronic Payment System Sdn Bhd 2014). This cooperation might create an
opportunity to Maybank in order to increase more Maybank’s users to adopt the savings
account because MEPS ATM machines are mostly located at convenience place and also
strategic locations. In addition, there are 273 ATM machines in Johor. Among the 273 ATM
machines, 8 of them even provides 24 hours’ service, such as City Square main branch,
Hospital Sultanah Fatimah, Terminal Larkin and Taman University branch (Malayan Banking
Berhad 2016 f). Those ATM machine mostly can be found in the shopping centers,
supermarkets, petrol stations, bus stations, airports and hospitals. All those machines locations
are provided in a convenience and can be found easily form the Maybank’s users.

F) Does the bank’s Existing Internet Infrastructure have any influence in the selection of
the product that your Group have chosen? Please state reasons for it.

Nowadays, the internet has become a vast marketplace for global goods and services and online
banking has become a very general for this technical generation. People are very familiar to
the use of this online transaction platform. Therefore, Maybank also has its competitive
advantage in the aspect of basic online services where Maybank also provide an internet-
banking platform such as Maybank2E (M2E). This platform is designed specifically for
companies to perform online transactions so that it is fast and timely disbursement of payments
and the transactions can be done at any time in the office. Besides, M2E are high security
infrastructure in fraud control through automation, transparency of processing and easy

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availability of information (Malayan Banking Berhad 2016 l). In this way, companies can
prevent from fraud happening by using M2E as all the information will be showed where they
can check at anytime, anywhere.

In addition, Maybank also launches a new service which is online savings account called M2U
Savers. Due to this new service, it will enhance the accessibility of the Maybank’s users which
make them more convenience in using it. In this way, it will reduce their time spend on waiting
in the counter in order to open a savings account where they can just access to the M2U Savers
to register or open it. Besides, M2U Savers also offers bill presentment service which is
currently available for Astro, Celcom, Telekom Malaysia and Tenaga Nasional Berhad (TNB)
to pay online without any fees charge.

Therefore, the internet infrastructures that provide by Maybank are more strategically than
other banks. This is because the bank provides convenience and more benefits for the
Maybank’s users, such as Maybank2u Savers provide hassle free process as customers to apply
in online and enjoy the high interest rate than traditional account with a minimum balance of
RM 2, 000. Besides, the Maybank2u Savers account can access to over 2800 Maybank ATMs
nationwide, cross banking ATMs under Maybank Group in Singapore, Brunei, Philippines,
Indonesia and Malaysia. Therefore, if the customer travel for overseas, they still can make
access to their account.

G) How does your group rate the Bank’s Customer Service and After Sales Service with
regards to the product that your group have chosen? How can the Bank’s customer service and
after sales service be further improved?

Maybank2u was used by the bank as a mantra to name its popular website. They have more
than 1 million of users using their website. One of the reasons is because of their customer
service quality. Based on 2012 Maybank annual report, they manage to reduce customer
spending time and raise their frontlines’ product knowledge and management capabilities.
Customers who enter the bank by walking in will be greeted by the officers or the staffs and
will be assisted to the right queues even during the peak hours from 12pm to 4pm. According
to the annual report of Maybank (2013), 86 percent of the customers has been improved where
the spending time that they have waited are not no more than two minutes for a transaction.
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Other than that, 56 percent of the customers waited not more than five minutes for multiple
transactions. Besides, Maybank has improved their management complaints very well that
score up to 98 percent (Maybank 2013).

Furthermore, Maybank provides after sale service such as online feedback or customer service
hotline. Customers also can share their feedbacks and complaints through the website in order
to solve the problems and improve them (Malayan Banking Berhad 2016d). Maybank has
provided 24 hours World Class Customer Care Centre that serve local and overseas customers
including public holidays. For example, customers might face some incidents happen such as
report loss credit card or unknown deduction from saving accounts. Therefore, they can report
it through this 24 hours’ telephone hotline in order to solve the problem as quickly as possible.
Moreover, customers can access products and services from five different categories, which
are banking, credit card, insurance, unit trust and financing (Malayan Banking Berhad 2016 b).
Otherwise, customers who need to apply for saving account may need to contact them through
telephone, online or walking in to their physical store in order to solve their problems.

Furthermore, the staffs in the bank have provided a good attitude for their customers as well.
They will guide and give customers in detail on the transaction patiently. For example, to set a
savings account, they will mark the important part that the customer has to fill up in order to
provide to the bank. Customers who do not understand, they will explain and guide them with
a friendly attitude. The group rate their service quality in the bank is good because they had
experience it before. Other than that, forgotten pin were resolved immediately through phone
line, where Maybank will verify the customer by their personal details, and new password can
be set right away after they help customer to reset (Maybank n.d.).

Other than that, the group think that Maybank has to improve their ATM machines, where there
are always insufficient printed receipts and out of maintenance either in their own branch or in
the shopping mall. This problem forces many people to withdraw cash from the other bank’s
ATM machine with an additional fees and wasted their time to go to other branches of other
bank to proceed the withdrawal. By customer retention, Maybank should upgrade their ATM
machine’s system frequently in order to solve these problems so that it would be more effective
and efficient.

Finally, the group are satisfied with the overall services provided by Maybank because they
have provided quick responses to each of their customers in internal or external customer

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service such as email, online, telephone hotline or even during the moment when customers
approach to them in the counter. Besides, Maybank provide three languages of feedback that
includes Bahasa Malaysia, Mandarin and English through hotline or email in order to satisfy
the requirement of different customers.

H) Does the Branch’s location where your Group’s deposit product is placed have any
influence in your Group’s decision? Please state reason for it.

The location of Maybank that the group choose is Taman Johor Jaya. This is because the branch,
which located in Taman Johor Jaya is close to Sunway College Johor Bahru which make it
convenience for the student to withdraw or deposit money or make any transactions in
Maybank. Secondly, the bank is located in downtown area and face to the main road where it
can enhance the awareness of the bank and eventually, it will bring many potential customers
to the bank. Thirdly, traffic system is another issue that need to be considered. According to
the research, people in the town mostly went to the bank at the peak hour, which is around
10am to 2pm. In this way, there will be a traffic congestion around that time, making people
have difficulties in going to the bank. However, the traffic system in Taman Johor Jaya is
considered good as the main road is broad and there have many parking lots that was provided
in front of the bank. It was convenience for the people when they try to find parking during the
peak hours. Through these considerations, the branch in Taman Johor Jaya is the most suitable
location for the group to place their deposit product.

I) Comparison between Maybank and Hong Leong Bank (Savings Account)

The group have chosen one of the saving account in Maybank, which is Kawanku Savings
Account to compare to one of saving account that its competitor has which, is Hong Leong
Bank Saving Account. The group has compare these two bank with different saving account in
eight categories. The follow table provided are the comparison between Maybank and Hong
Leong Bank savings account.

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 Maybank (Kawanku Savings Hong Leong Bank (Savings
Account) Accounts)
(a) Product  Split-tier Interest rates that calculates  Multi-tiered interest rate is
Features daily and credited half-yearly in June calculated daily and paid half-
and December yearly
 Provide an ATM card or Debit Card  Hong Leong Savings Account
 Online banking via Maybank2u passbook provides you all your
 Autodebit services transaction record
 SMS Transaction Alert and PIDM  Online banking via the nationwide
protected will be provided branches, ATM network, Hong
 Requirements for opening Leong Phone Banking and Hong
KAWANKU saving accounts Leong Connect
1. Minimum deposit RM50 (with  SMS Transaction Alert and PIDM
letter of employment) and protected will be provided
RM250 (individual, joint &  Requirements for opening saving
minor accounts). accounts
2. Minimum 18 years old. 1. Minimum of RM200 to open
3. Original Identity Card the account.
(Malaysian) or Passport 2. Must be 18 years old and above.
(Foreigners). 3. NO introducer is required
4. Other supporting documents Original Identity Card (IC)
(valid visa or student permit). for Malaysians and Passport
5. Can be register any branch for foreigners.
located near your home or work
place.
(b) Interest 1. Split-tier Interest rates that calculates 1. Multi-tiered interest rate is
Rates daily and credited half-yearly calculated daily and paid half-
 First RM1k (0.30% p.a.) yearly
 RM1k to RM10k (0.35% p.a.)  First RM50K (0.00% p.a.)
 RM25k to RM50k (0.40% p.a.)  Up to RM100k (0.25% p.a.)
 RM50k to RM100k (0.65% p.a.)  Up to RM200k (0.55% p.a.)
 RM100k to RM200k (1.10% p.a.)  Up to RM500k (0.75% p.a.)

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  RM200k to RM500k (1.15% p.a.)  Up to RM1Million (1.00% p.a.)
 Above RM500k (1.2% p.a.)  Above RM1Million (1.2% p.a.)
(c) E-Payment  ASTRO  DiGi Telecommunications Sdn Bhd
 Celcom  MAXIS
 Dewan Bandaraya Kuala Lumpur -  ASTRO
Cukai Taksiran  CELCOM (Malaysia Berhad)
 Indah Water Konsortium Sdn Bhd  Gas Malaysia Sdn Bhd
 MAXIS  Indah Water Konsortium (IWK)
 Syarikat Bekalan Air Selangor Sdn Sdn Bhd
Bhd (SYABAS)  Majlis Bandaraya Johor Bahru
 Telekom - Tel and Multimedia  Telekom Malaysia Bhd
 Telekom - UniFi  Tenaga Nasional Berhad
 Tenaga Nasional Berhad
 Replacement of ATM/bankcard  Card replacement fee (RM12.00)
(d) Fees (RM12.00)  Lost savings passbook (RM10.00)
Imposed  Replacement of lost savings and Letter of indemnity (RM10.00)
passbook, inclusive of stamp duty  Closing account within 3 months
(RM15.00) from opening (RM20.00)
 Replacement of savings passbook  Change of operating mandate
due to poor handling (RM10.00) (RM10.60)
 Early closure of account within 3  SMS notification for individual
months of account opening account (RM5.30 per month)
(RM20.00)  SMS notification for non-
 Cash withdrawals at ATM facilities individual account (RM10.60)
owned by other banks (RM1.00)  Cash withdrawal or transfer from
 Interbank GIRO (IBG) (RM0.11) other Bank's ATM (RM1.06)
 Instant Interbank Fund Transfer  Application for IBG (RM0.11)
(RM0.53)  Interbank funds transfer (RM0.53)
 Instant Transfer (RM0.53) (Hong Leong Bank Berhad n.d. a)
 M2U savers account holders who (Hong Leong Bank Berhad n.d. b)
perform transactions over the (Hong Leong Bank Berhad n.d. c)
counter (RM5.00) (Hong Leong Bank Berhad n.d. e)

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(e) Existing  Total 49 branches in Johor areas.  Total 35 branches in Johor areas.
Branch  Branches worldwide.  Branches in Asian countries.
Network  Total 273 ATM machines in Johor  Total 49 ATM machines in Johor
areas. areas.
 Cooperation in MEPS ATM  Cooperation in MEPS ATM
network. network. (Hong Leong Bank
Berhad n.d. f)
(f) Existing - Maybank2u - Hong Leong Connect Online
Internet - Other than basic services and Banking
Infrastruct features. - Basic services and features. (Hong
ure  Bill presentment service. Leong Bank Berhad n.d. d)
 Open a savings account online.
(g) Customer  Satisfactory  Satisfactory
Service and - Standard customer service. - Standard customer service.
After Sales - Aims to serve within 2 minutes. - Aims to serve within 5 minutes.
Services  After sales services
 After sales services
- Online customer feedback.
- Online customer feedback.
Provides 24 hours World Class - Provides 24 hours customer service
-
hotline.
Customer Care Centre.
(h) Influence  Located in downtown area  Located in downtown area
of branch’s  Face to the main road  Face to the pathway
location  Has better traffic system.  Less parking
(Taman  More parking lots.
Johor
Jaya)

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J) Recommendations

There are some of the factors that the group will take into considerations before selecting the
bank other than that factors which stated above. The most crucial factor which will be
considered is the legitimacy of the bank. This is because a legitimate bank tends to have extra
secure protection required by the laws. People always choose a bank where they consider is
legitimate and safe to deposit their money. As required by the regulations, the bank must protect
its users by eliminating the possibility of the loss of deposits. In addition, a bank should provide
all the important information in details to avoid confusion among its users. For instance,
applications for account should fulfill what requirements must be clearly illustration to
customers. Through the information, the users will be more familiar with the service and they
can compare with other alternative bank like CIMB, Public Bank, RHB Bank and many more.
Besides, the reputation and the size of the bank are also one of the factors which might influence
the group decision. A large bank with good reputation will always be the priority. This is
because the bank must be excellent in satisfying its’ customer’s requirements. Last but not least,
a successful bank will always have enough and reliable information to disclose to its customers
in order to show their sustainability and also to keep their customers up to date about the bank
current situation.

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Appendices

1. Maybank Interest Rates

2. Hong Leong Bank Interest Rates

15
3. Maybank Online Services

4. Hong Leong Bank Online Services

16
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<https://www.bancnetonline.com/BancnetWeb/goToPosShoppingPage.do>.
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<https://www.hlb.com.my/main/info-centre/fees-and-charges#/section/atm-services>.
Hong Leong Bank Berhad n.d. b, Bill payment, Hong Leong Bank, 26 March 2017,
<https://www.hlb.com.my/main/online-banking/bill-payment>.
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Investopedia, LLC 2017 a, Nominal interest rate, Investopedia, viewed 25 March 2017,
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<http://www.maybank2u.com.my/mbb_info/m2u/public/customerService.do?programId=CS-
CustService&chCatId=/mbb/Personal>.

17
Malayan Banking Berhad 2016 e, Funds transfers, Maybank2u.com, viewed 26 March 2017,
<http://www.maybank2u.com.my/mbb_info/m2u/public/personalList04.do?cntTypeId=0&ch
annelId=&programId=ACC04-FundsTransfers&chCatId=/mbb/Personal/ACC-Accounts/>.
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