Yoma Bank’s JZü Gains Momentum with Tremendous Increase of the Public’s Interest
The Second JZü Draw Event Awarded 23 Winners for The Month of August
Yangon, Myanmar – Sep 17, 2018 – Yoma Banks hosted its second draw event of the prize - linked account JZü at Junction City, Yangon on 13th September. 23 winners of JZü accounts were awarded during the draw for the month of August with a prize pool of MMK 36,124,625 MMK. Since the first JZü draw event last month, Yoma Bank has seen a significant increase of people opening JZü accounts. The majority of new JZü account owners are also eligible to participate in the upcoming draw. The first draw of JZü for July was held at the same venue and 31 winners from fourteen different cities and townships across the nation were randomly selected by a software to double their minimum account balance out of the total prize pool of 30,310,000 MMK.
On top of a 3% annual interest rate, which is calculated daily and paid monthly, each account will be able to participate in the monthly draw for a chance to double its monthly minimum balance by maintaining a 200,000 MMK of minimum balance in the JZü account. All winners are selected randomly by a software, and the monthly draw process is executed under the supervision of an independent 3rd party to ensure that all processes (internal and external) relating to the reward pool and reward distribution are aligned and compliant to the rules and regulations. This live prize draw was broadcasted on Yoma Bank’s Facebook page and Mizzima media.
JZü is the first prize-linked account that a Myanmar Bank has ever introduced and that is approved by the Central Bank of Myanmar. Yoma Bank created this product to bring the awareness of banking and financial literacy to the community and to also offer its digital banking products to the existing and new customers with the highest level of convenience and satisfaction.
One of the JZü winners for the month of August, the highest prize winner in August, Daw Zarli Tin Htun shared her feeling on her social media, “To my surprise, I won JZü draw today. Still I couldn't believe myself as I have never experienced. Such, I feel so blessed and thankful. With this winning amount, I am donating back hundred percent to the community or charity.” She was awarded 15,025,890 MMK during the JZü draw event for the month of August.
The reward pool for the year would be equal to 2.5% of the total cumulative deposits and it will start from a minimum of 30 million MMK per month. In the instance where the winner’s prize (10 lakhs) is higher than the remaining prize pool size (5 lakhs) left for the last draw, the bank will honor the complete total amount to the last winner.
In order for one to open JZü account, one would also need to open a SMART account, which can easily be opened at any of the 75 Yoma Bank branch locations nationwide. Unlike other accounts, JZü account enables the account holders to withdraw up to 0 MMK balance in their account at any time. However, customers would have to maintain a 200,000 MMK minimum balance and above in their accounts in order to participate in the monthly prize draw. Customers’ account with minimum balance dropping below this threshold during the month will not be eligible to participate in the monthly draw. Please refer to below examples to understand more about JZü’s terms and conditions.
Interested new customers are encouraged and can open a JZü account depositing a minimum of 200,000 MMK before the 16th of each month. The number of winners per month will vary depending on the amount of balance of the winners. All eligible account holders will get an equal chance to participate in a monthly draw selection. If the winners have small balances, there will be more winners. The prize draw for each month will continue on until the allocated reward pool is depleted.
On the 2nd working day of every month, eligible account holders will be notified via SMS of their eligibility. The prize draw will be broadcasted “Live” on Yoma Bank’s Facebook Page, on every second Thursdays of the month. The day after the draw event, winners’ names and parts of their account number will be published on Yoma Bank’s social media pages and website. Account holders who win the draw will get their minimum account balance of the previous month reflected into their accounts within 10 days. Each account holder is allowed to win only one time per month. For more information about JZü, please visit https://www.yomabank.com/jzu
You can download the press release in Myanmar version.
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