some cheers for year end, or are they not?

I received an email from ocbc bank a few weeks ago.

It says that 

(a) we can get BBWS RM50 voucher for opening any type of savings account

(b) another BBWS RM50 voucher for opening any type of FD deposit 

during the promotion period.

* BBWS : Big Bad Wolf Sales - the biggest and baddest book sales in Malaysia offering new books @ a fraction of retail prices.

Here's the catch : 

(a) min RM1k for opening savings account

(b) min RM5k for opening FD account

(c) max per pax is RM100 voucher per person. 

(d) applicable to selected customer who receive the email. (apparently their criteria for the mailing list is customer who only has credit card with them. They want to bring in your deposits)

But here's the cheers 

(for me la) :

1. Getting RM100 voucher for BBWS is very worth it (if average RM8 /book, I get about 12 books free literally). It's the kind of voucher that's definately not going to be ended up not utilized for me.

2. In term of returns, about 5% for savings account (RM50/RM1000), 

1% for FD account (RM50/RM5000) on top of the existing p.a interest rate. 

Mind you, this is not even per annum rate calculation basis. 

3. the returns in item (2) is given upfront / immediate, upon opening of account (ok la, upon collection and usage of voucher). In other words, we don't need to wait for month end / year end / upon maturity for interest calculation and crediting.

4. There are no bonding / tie in period. Literally, it can mean you can withdraw the money you bank the moment / after you collected the vouchers. But then again, don't think anyone will do so right? FD withdraw prior to maturity will have penalty/ no interest.

5. I just discovered OCBC has a very attractive savings account which they call 'Smart Savers Plan'. It allow adult to earn interest rates like children account provided there are no withdrawal. It's good if you plan to use it for REAL savings and not day to day operating account.

provided no withdrawal, deposit of 

RM0 - RM49.99 interest rate 2.4% p.a

RM50 - RM999.99 interest rate 2.75% p.a

RM1000 above interest rate 2.90% p.a

(refer pic2 below)

help me see...did I miss any catch here? (since I think I'm blinded by the BBWS cash vouchers) 

ps. this is not a paid post. 

the above post is just the opinion of the writer.