MECHANICS AND CONDITIONS
Promo Period: August 3 to August 31, 2024
Eligibility:
This promo is open to all new and existing Komo savings account holders who have an outstanding balance of below or equal to PHP500,000 as of EOD August 2, 2024. (*Only balances below or equal to PHP 500,000 will be eligible for the increased rate. Any amount beyond PHP500,000 is subject for Komo’s standard non promo interest rate)
Users not eligible for the promo:
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Closed accounts prior to promo. Users have closed your Komo account within 90 days prior to the promo period.
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Blacklisted accounts. User is included in Komo’s blacklisted accounts.
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Customers whose beginning of day balance (12:01AM) for August 3, 2024 is above Php 500,000.
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Komo mobile app users who do not have a Komo Savings Account.
Qualifying action:
Komo Savings Account holders need to increase their ADB (Average Daily Balance) by at least PHP5,000 within the promo period to earn the 6% interest rate.
Qualifying Date: August 3 to August 31, 2024
Reward:
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If you are entitled to the reward, Komo Savings Account holder will get notified of the reward within 7 working days after the promo period. It will be in the form of account credit on top of the regular monthly base interest payout.
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Prior to promo period ADB will be computed from July 3 to August 2, 2024
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Promo period ADB will be computed from August 3 to August 31, 2024
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ADB = average daily balance, computed as sum of daily end of day balance divided by total number of days
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ADB Growth = ADB of July 3 to August 2 (Previous 30 days) vs. ADB of August 3 to August 31 (promo period) - should increase by at least P5K
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Beginning balance 12:01AM August 3, 2024 should not be more than P500,000
SAMPLE SCENARIOS
Scenario 1:
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User’s ADB increased by 4k;
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User is not eligible for the interest rate
Scenario 2:
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User’s ADB increased by 12k;
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User is eligible for the 6% interest rate
FAQs
What is the Promo?
Komo Savings account holders who increase their average daily balance by at least PHP5,000 within the promo period are eligible for the 6% interest rate promo
Who can join this Promo?
All Komo approved users who have an outstanding balance of below PHP500,000 and are not deemed to be suspicious or fraudulent account.
How do I join the Promo?
You need to increase your by PHP 5,000 within the promo period and have a balance of or below Php 500,000.
When is the Promo Period?
The promo period is on August 3 to August 31, 2024
When will I receive the reward?
If you are entitled to the reward, users will get notified within 7 working days after the promo period. It will be in the form of account credit on top of the regular month-end interest credit.
How will I know if I’ve received the prize?
You will receive an SMS notification from KomoPH.