• Hong Leong Fixed Deposit

    Investing in Hong Leong Fixed Deposit schemes offers a range of benefits such as flexible tenures and competitive interest rates. Read on to find more about Hong Leong Fixed Deposit Rate.

    Hong Leong Fixed Deposit Interest Rates 2018 (Updated on 21 Sep 2018)

    The table below details out the Hong Leong Fixed Deposit Interest Rates of 2018.

    Fixed Deposit Name Tenure (in months) Interest Rate (% p.a.)
    Flexi FD 12 3.25%
    Senior Savers Flexi FD 12, 24, 36, 48 and 60 3.25%
    Junior Fixed Deposit 12, 24, 36, 48 or 60 3.25%
    Foreign Deposit Account 1 day to 1 year 0.00% to 1.3% (in USD)
    Fixed Deposit Account e-Fixed Account
    Tenure (In Months) Interest Rate (% P.A) Tenure (In Months) Interest Rate (% P.A)
    1 (Min RM5000) 3.00 1 (Min RM5000) 2.70
    2 3.00 2 3.00
    3 3.05 3 3.05
    4 3.05 4 3.05
    5 3.05 5 3.05
    6 3.10 6 3.10
    7 3.10 7 3.10
    8 3.10 8 3.10
    9 3.10 9 3.10
    10 3.10 10 3.10
    11 3.10 11 3.10
    12 3.10 12 3.10
    13 - 60 3.10 - -

    HL Bank Foreign Currency Fixed Deposit Rate

    Apart from investing in Malaysian Ringgit, you can also invest in foreign fixed deposits. The table below shows the interest rates of some of the foreign currencies:

    Tenure Interest Rates (% p.a.)
    1 day 0.00 0.00 0.00 0.00 0.00 0.00 0.00
    1 week 0.35 0.00 0.00 0.00 0.00 0.00 0.00
    2 weeks 0.45 0.00 0.00 0.00 0.00 0.00 0.00
    3 weeks 0.50 0.00 0.00 0.00 0.00 0.00 0.00
    1 month 0.60 0.70 0.55 0.00 0.15 0.05 0.00
    2 months 0.70 0.80 0.58 0.00 0.20 0.10 0.00
    3 months 0.80 0.90 0.60 0.00 0.25 0.15 0.00
    4 months 0.85 0.95 0.62 0.00 0.30 0.15 0.00
    5 months 0.90 1.00 0.63 0.00 0.35 0.20 0.00
    6 months 0.95 1.10 0.65 0.00 0.40 0.20 0.00
    7 months 1.00 1.15 0.70 0.00 0.45 0.25 0.00
    8 months 1.05 1.15 0.75 0.00 0.45 0.30 0.00
    9 months 1.10 1.20 0.80 0.00 0.50 0.35 0.00
    10 months 1.15 1.30 0.90 0.00 0.55 0.40 0.00
    11 months 1.20 1.40 1.00 0.00 0.60 0.45 0.00
    12 months 1.30 1.45 1.05 0.00 0.65 0.50 0.00

    Types of Hong Leong Fixed Deposits

    Hong Leong Fixed Deposits are of six types:

    • Fixed Deposit Account: The Fixed Deposit Account ensures allows you to start an FD with only a minimum deposit of RM5,000 for a month or RM500 for two months and above.
    • Flexi FD: This is a flexible deposit account that comes along with the Flexi One Account so that you can you can use your cheques as well as enjoy your savings at high-interest rates. If you do not have sufficient funds in your Flexi One Account, then the auto-sweeping feature will allow you to sweep from your Flexi FD to Flexi One Account.
    • Senior Savers Flexi FD: This flexible deposit account allows you to enjoy high returns with only a minimum deposit of RM10,000.
    • Junior Fixed Deposit: You can secure your child’s future with this Junior Fixed Deposit scheme. You can open this account with just RM1,000.
    • e-Fixed Deposit: This is an online fixed deposit account that enables you to control your fixed deposits with Hong Leong Connect. You also have the option to auto-renew your account upon maturity.
    • Foreign Fixed Deposit Account: This fixed deposit account is mainly for foreigners and it is through this that they can enjoy attractive returns on their investments.

    Features and benefits of Hong Leong Fixed Deposits

    The Hong Leong fixed deposit provides a host of benefits and features which are as follows:

    • The Hong Leong Fixed Deposit allows you to secure high returns with their attractive and competitive deposit rates.
    • The fixed deposits from Hong Leong offers flexible tenures. Based on your requirements, you can choose tenures starting from one week going up to 36 months.
    • There is a senior citizen fixed deposit scheme which enables people over 50 years of age and above to enjoy higher interest rates on deposits. A minimum of RM10,000 is required to open the Senior Savers Flexi Fixed Deposit account.
    • All your investments in fixed deposit accounts with Hong Leong are Perbadanan Insurans Deposit Malaysia (PIDM) protected.
    • The bank offers a wide range of currencies for Foreign Deposit Account.
    • Parents can open a fixed deposit account for their children who are below 18 years of age.

    Eligibility criteria for Hong Leong fixed deposit

    The following is the eligibility criteria to open a fixed deposit account with Hong Leong Bank:

    • You have to be over 18 years of age and above.
    • You have to be a Malaysian citizen or a Permanent Resident.
    • You need to put a minimum deposit of RM5,000 for a 1-month tenure and RM500 for a tenure of two months or above.
    • The fixed deposit account is available to customers on an individual and non-individual basis.

    Documents Required for Hong Leong Fixed Deposit

    You need to produce the following documents:

    • Copy of NRIC.
    • Income documents.

    Hong Leong Fixed Deposit for Foreigners

    Hong Leong Bank provides fixed deposits to expats residing in Malaysia at attractive interest rates and flexible tenures allowing them to make the most of their investments.

    Fees & Charges for Hong Leong Fixed Deposit

    Description Fees & Charges (including GST)
    Dishonoured Cheque RM10.60 per cheque returned
    Lost Fixed Deposit Receipt
    • RM5.00 per receipt
    • RM10.00 for Letter of Indemnity
    Withdrawal by Banker’s Cheque
    • RM5.30 per cheque
    • RM0.15 per cheque for stamp duty
    • Cheque processing fee of RM0.53
    Premature withdrawal of Fixed Deposit
    • No interest will be paid if the fixed deposit is for 1-3 months.
    • If it is for more than three months: If it is withdrawn after three months, an interest at ½ the contracted rate will be paid for each of the completed month.
    Any changes made to the account:
    • Change of operating mandate
    • Addition of joint accountholders
    RM10.60 per account

    Hong Leong Fixed Deposit Promotion

    Promotion 1

    Invest a minimum amount of RM30,000 in a ASNB Variable Priced Funds to get a promotional profit rate of 8.88% p.a. on your FD-i. You have to place a minimum of RM500 in the FD-i account for 2 months. You have to nominate a CASA-i maintained with the Hong Leong Islamic Bank. The promotion is valid until 30 September 2018.

    Promotion 2

    Open an eFD/eFD-i account online via AllianceOnline and transfer a minimum deposit amount of RM10,000 from other banks via FPX only. Place the deposit for a period of 6 months to earn high returns of up to 3.95% p.a. The promotion is valid from 1 September 2018 until 30 September 2018. The interest will be paid on maturity and will be credited to the nominated CASA/CASA-i.

    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

    How to open a Hong Leong Fixed Deposit Account

    You can follow any one of the following if you are willing to open Hong Leong Fixed Deposit Account:

    • You can visit the nearest branch and initiate the application.
    • You can visit Hong Leong website and complete the online form following which a bank representative will contact to help you take the application request forward.

    Hong Leong Contact Number

    In order to get further information about Hong Leong Fixed Deposit Account, customers can call at 03-76268899.


    Q. What are the risks and tax involved in Foreign Currency Account?

    A. There are certain risks involved in foreign currency transactions. These include but is not limited to any risks involved due to the fluctuation of exchange rates, taxes, valuation and devaluation of currencies, changes in the policies of the Government and so on.

    Hong Leong Bank is authorised to effect any conversion of currencies as deemed necessary by law for any payment or deduction of taxes. The bank is also not liable to you for any loss suffered by you under any circumstances of conversion of currencies.

    Q. What is the minimum initial deposit amount required to open a Flexi FD Account?

    A: The minimum initial deposit that is required to open a Flexi FD Account is RM10,000. The minimum initial deposit necessary to open the Flexi One Account is RM10.

    Q. What is the Contracted Interest Rate?

    A. The contracted rate of interest is the interest that your bank agrees to pay you on your fixed deposit. It is calculated from the date of commencement to the date of maturity. It is called contracted since the bank has ‘contracted’ to pay you the specific interest rate.

    Q. How is the premature withdrawal of Hong Leong Earn Now Fixed Deposit calculated?

    A. The premature withdrawal charge of Hong Leong Earn Now Fixed Deposit is calculated in the following manner:

    Interest (I) x Time (T) x Rate (R)


    I = Interest paid in advance

    T = Number of days from effective date to upliftment date / 365

    R = Contracted Interest Rate

    Q. What is the minimum age requirement for the senior citizen fixed deposit?

    A. Depositors must have attained a minimum age of 50 years to open and maintain a senior citizen fixed deposit.

    Other Products offered by Hong Leong:

    Apart from offering Fixed Deposit,Hong Leong offers other products and services which include:

    News About Hong Leong Bank Fixed Deposits in Malaysia

    • Hong Leong Bank Increases Rates Along With Its Islamic Subsidiary

      Hong Leong Bank Berhad has announced that there would be an increase in their Base rate or BR by 0.25%. On that front, Hong Leong Islamic Bank Berhad has also increased its Islamic Base Rate by 0.25%. The increase in Hong Leong and Hong Leong Islamic’s Base Rates will also be mirrored by an increase in its Fixed Deposit Rates and Fixed Deposit-i Rates as well.

      According to the bank’s official website, the Base Lending Rate has changed to 7.04%, the Base Rate is now 4.03% and Kuala Lumpur Interbank Offered Rates have changed to 3.68% - all from 30 January 2018.

      These changes came in after Bank Negara Malaysia decided to change the Overnight Policy Rate.

      BBazaar Malaysia

      6 February 2018

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