With services dating back to 1968, the Hong Leon Bank has become one of the largest banks in Malaysia and also among the first banks in Malaysia to enter into the Chinese banking sector. The bank caters to wide range of audience and provides specialized banking products and solutions for both consumer and business banking
The fixed deposits offered by Hong Leong have many advantages and provide a safe investment ideal for first time investors. These deposits generate a steady return and depend on the money deposited along with the tenure of the deposit and the interest rate offered. These rates may often vary with promotional offers designed to attract more customers. Promotional offers may include attractive interest rates or more tenure options ranging from short term of 1 month to long term of over 12 months. The promotional offers for Hong Leong Bank are as follows
Some Promotional offers provides FDs with varying tenure options that have different tiers and different interest rates The available FD’s under this promotional offer is a 12 month FD with an effective Interest rate of 4.3%, 3 month FD’s with an effective interest rate of 3.95% and 1 month with an effective interest rate of 3.40%
Other fixed deposit offers include a conventional 6 month FD which offers an effective interest rate of 4% on a minimum deposit of RM 10,000 and a priority banking premium fixed deposit which as an effective interest rate of 4.05% p.a. for a tenure of 6 months with the minimum deposit being RM 100,000. Offers also include a 3.8% p.a. interest rate on FD’s of 3 month tenures for minimum placement of RM 10,000.
The Powerlink Fixed Deposit offer allows investors to link their fixed deposits to selected unit trust funds. This offer provides the investors a choice of packages. The first package requires a minimum unit trust fund placement of RM 50,000 with an FD interest rate of 6% for tenure of 3 months and requires a Unit trust to fixed deposit ratio of 1:2. The second package requires a minimum unit trust fund placement of RM 50,000 with an FD interest rate of 5% for tenure of 6 months and requires a Unit trust to fixed deposit ratio of 1:1.5. The third package option requires a minimum unit trust fund placement of RM 10,000 with an FD interest rate of 8.88% for tenure of 12 months and requires a Unit trust to fixed deposit ratio of 4:1 and the fourth package requires a minimum unit trust fund placement of RM 50,000 with an FD interest rate of 10.88% for tenure of 12 months and requires a Unit trust to fixed deposit ratio of 4:1. The minimum UT sales charge for the first 2 packages is 3% and for the last 2 packages is 5%
The above promotional offers for fixed deposits from Hong Leong Bank will expire soon.
Explore on Hong Leong Fixed Deposits in Malaysia.