How to calculate and check my Eligible New Fund Balance?
"Eligible New Fund Balance" refers to the incremental balance when comparing the latest deposit balance with the balance of the same currency as of 30 calendar days ago, after deduction of the sum of principal amount which has been entitled to new fund offer of Time Deposit within the last 30 calendar days. The balance of all accounts, including Savings Accounts, Current Accounts and Time Deposits of Hong Kong Dollar and foreign currencies (whether accounts in sole name or joint name), will be counted towards the calculation of "Eligible New Fund Balance". The Bank reserves the right of final decision should there be any dispute in the definition of "Eligible New Fund Balance".
Calculation of Eligible New Fund Balance
"Eligible New Fund Balance" of customer = (A) Latest deposit balance of a currency – (B) Deposit balance of the same currency as of 30 calendar days ago – (C) Sum of principal amount which has been entitled to new fund offer of Time Deposit within the last 30 calendar days
Illustration example
Assumptions: Today is 30 Sep 2020 and customer’s HKD deposit transactions within the last 30 calendar days are as follows
Transaction Date | Transaction Details | Transaction Amount (HKD) | ||
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31 Aug | HKD deposit balance |
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8 Sep | Fund in |
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15 Sep | Placed HKD new fund Time Deposit |
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17 Sep | Fund out |
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20 Sep | Fund in |
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30 Sep | HKD deposit balance |
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Calculation method
HKD | |
---|---|
Latest deposit balance (A) | $170,000 |
Deposit balance as of 30 calendar days ago (B) | $30,000 |
Incremental balance (A-B) | $140,000 |
Sum of principal amount which has been entitled to new fund offer of Time Deposit within the last 30 calendar days (C) | $20,000 |
Eligible new fund balance (A-B-C) | $120,000 |