• Hong Leong Bank FD Promotion

    Hong Leong Bank (HLB) and Hong Leong Islamic Bank (HLIB) have come up with promotions on a few fixed deposit products. Get high returns on the money you deposit in an FD and FD-i account. Read through to know how the promotions work. Hurry and place your deposit within the promotion period to earn high-interest rates.

    Hong Leong Bank Fixed Deposit

    Promotion 1

    Invest a minimum amount of RM30,000 in ASNB Variable Priced Funds to get a promotional profit rate of 8.88% p.a. on your FD-i placement. The tenure for the FD-i placement is 2 months. You have to place a minimum amount of RM500 in the FD-i account. A sales charge of 5% is applicable.

    Minimum ASNB Variable Priced Funds Minimum Deposit Amount Promotional Rate Deposit Tenure
    RM30,000 RM500 8.88% p.a. 2 months

    Promotion 2

    Open an eFD/eFD-i account via the Hong Leong Connect platform and place a deposit amount of RM10,000 and above. The deposit must be placed for 6 months to earn a promotional rate of 3.95% p.a.

    A maximum of RM2 million can be deposited per customer. A maximum of RM30,000 can be transferred per transaction via Financial Process Exchange (FPX). The maximum transfer amount may vary based on the transfer limit set in your internet banking account.

    Minimum Deposit Amount Maximum Deposit Amount Promotional Rate Effective Rate Deposit Tenure
    RM10,000 RM2 million 3.95% p.a. 3.95% p.a. 6 months

    HL Bank Fixed Deposit Promotions Start & End Date

    Promotion 1

    The promotion is on-going and is valid until 30 September 2018.

    Promotion 2

    The promotion began on 1 September 2018 and is valid until 30 September 2018 or when the total fund size reaches RM250 million, whichever is earlier.

    Hong Leong Islamic Fixed Deposit Promo 1 Terms & Conditions

    • The promotional rates are applicable to new funds only.
    • You have to nominate a CASA-i account maintained with Hong Leong Islamic Bank.
    • Partial withdrawal of the FD is not allowed.
    • FD and investment placement must be made on the same day to enjoy the promotional benefits.

    Hong Leong Fixed Deposit Promo 2 Terms & Conditions

    • Funds for the deposits must be transferred from other banks via FPX only.
    • You have to nominate a CASA/CASA-i when you open an eFD/eFD-i. This is required for the purpose of crediting the interest earned from the deposit account.
    • The interest will be credited on maturity.
    • The deposit account will be auto-renewed for another cycle.
    • Prevailing board rates will be applicable on auto-renewal.
    • No interest will be paid for premature withdrawal after 1 January 2019.
    • Partial withdrawal is not allowed.
    • The deposit placement cannot be used as collateral for any credit facility.

    Promotion 1 FAQs

    Q. What is the maximum amount I can place in the FD-i account under promotion 1?

    A. Under Promotion 4, you can place an amount up to twice the amount you have invested in the ASNB account.

    Q. Can I use the FD-i placement as a collateral to obtain a credit facility?

    A. No. None of the promotions mentioned above can be used as a pledge to obtain a credit facility.

    Q. What do new funds mean?

    A. New funds can be the money credited via one of these sources:

    • Cash.
    • Interbank GIRO.
    • Telegraphic Transfer.
    • Local Cheque.

    Q. Can I withdraw the placement before the completion of the tenure?

    A. No. You are not encouraged to withdraw the placement before maturity. If you withdraw, you may not receive any profit.

    Promotion 2 FAQs

    Q. What is FPX?

    A. FPX is an online payment method used for fund transfer between banks. It includes some security features that protect your transaction against online frauds. FPX is a service offered by Malaysian Electronic Clearing Corporation (MyClear), a subsidiary of Bank Negara Malaysia.

    Q. How long does it take to process my eFD/eFD-i?

    A. It may take up to 2 working days to process your deposit placement in an eFD/eFD-i. You eFD/eFD-i is effective only after the completion of processing it. Therefore, it may not work well if you open the online account on the last day of the promotion validity period.  

    Q. Does the bank pay interest if I make a premature withdrawal by 31 December 2018?

    A. If you make a premature withdrawal before 31 December 2018:

    • No interest will be paid if you the deposit is uplifted/withdrawn within the first 3 months from the date of placement.
    • In the case of upliftment/withdrawal after completing 3 months and before maturity, an interest equivalent to 50% of the promotional rate will be paid for the number of completed months.
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