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ASB to donate NZ$10 to earthquake appeal for each customer who invests in a special term deposit
The Red Cross Canterbury Earthquake Appeal will receive NZ$10 from ASB for each bank customer who invests in a special 100-day Term Deposit.
The deposit has an interest rate of 5% per annum, and customers will have to deposit a minimum of NZ$10,000.
See all bank term deposit rates here.
12 Comments
Not a fan of companies who
Not a fan of companies who trade on things like this for publicity. Other banks give a better rate of return, and on that extra amount they give you, you could just make your own donation to the earthquake. If companies do this sort of thing they should be giving 100% of profits, less their costs.
The poor folks in Canterbury
The poor folks in Canterbury hardly need a great TD rate right now - they need access to their funds at no cost.
This smacks of opportunism. ASB have got this totally wrong. They should be ashamed of trying to use Canterbury's misfotune to their own advanatge under the guise of doing a good deed.
The public are not stupid and will see-through the smoke and mirrors with this 'offer'.
Poor form ASB.......
Unfortionately there are a
Unfortionately there are a lot of companies who are doing this sort of thing, by 'sharing' the profits with a charity. I personally don't think it should be allowed. It should be 100% of the profits. The is a T shirt company doing the same thing, by giving $5 to the red cross of every sale. I say cut out the middle man if you want to support Christchurch, and donate directly.
Great work to ASB - it's a
Great work to ASB - it's a win / win proposition, benefiting both Canterbury and your customers - many of whom will want to give to the people effected by this disaster. This is certainly a better effort than the likes of Kiwibank who have not given one single dollar towards helping the people of Canterbury, but have instead taken out big ads - providing bank account details, so we can give a donation! Clearly - it's a "every other person should be giving a donation" but we don't have to - a "do as I say and not as I do" mentality! They should be ashamed of themselves. I will be taking up ASB's offer, because I for one, want as much mone as possible to go the people of Christchurch. Kiwibank - you can learn something from a true kiwi bank.
A poor effort Carole. And the
A poor effort Carole. And the ASB.
Actually I'm not going to comment on Carole at all. And neither should you! I hereby revoke this comment.
how much is 'carole' being
how much is 'carole' being paid by ASB for these comments!!!
It is a terrible call by
It is a terrible call by ASB...trying to make money off people in a time of crisis.
Carole, kiwibank is owned by
Carole, kiwibank is owned by the government, and the government have donated millions already. Kiwibank may see that setting up a product branded by a natural disaster, and only providing a percentage of those profits(rather than the full amount) to charity isn't good form. I am sure some people may see this sort of thing as a good thing, but many other people can see the wood from the trees. There are companies who are trading on the EQ, but are giving 100% of the profits to the cause, not just a percentage.
Also just becuase kiwbank hasn't setup anything along these line, doesn't mean they aren't helping in other ways. They maybe giving loan relief to their customers, which would be a huge help.
So $10,000.00 invested means
So $10,000.00 invested means ASB will give $10 to the Earthquake.
HOLD THE PHONE
How about $50 or maybe $100. $10 is an absolute joke.
It's like 0.1%, or even less
It's like 0.1%, or even less if you deposit more than $10000. I wonder how much profit they will be making from that $10000 deposit themselves
All banks are currently
All banks are currently competing for deposits to offset their lending exposures and meet RBNZ requirements to obtain more local funding rather than borrowing offshore .
Do the ASB take New Zealander"s for idiots. This smacks of self interest which they try to hide under the guise of assistance by saying "look at the good things we are doing to help"...help who - the ASB or those impacted by the earthquake.
It would appear the ASB PR and marketing machine really needs a good shake up unlike the people of Canterbury.
From my reading of this
From my reading of this promotion, the maxium the red cross can earn from this promo is just $10k, as ASB has limited to $10 million . If single person deposits $10 million, the red cross would only make $10. $10k is very little, considering some banks have donated $1 million.