Hong Leong Islamic Fixed Deposit, which is based on Islamic financing principles, is a facility which helps individuals to get higher returns on their savings by offering competitive profit rates.
Hong Leong Islamic Fixed Deposit Profit Rates (Updated on 20 Dec 2018)
The following tables contain the profit/Hibah rates associated with the Hong Leong Islamic Fixed Deposit:
|Islamic Online Fixed Deposit-i tenure||Profit rate per year|
|1 Month||2.70% p.a.|
|2 Months||3.00% p.a.|
|3 to 5 Months||3.05% p.a.|
|6 to 60 Months||3.10% p.a.|
|Fixed Deposit-i tenure||Profit rate per year|
|12 Months||3.00% p.a.|
|3 to 5 Months||3.05% p.a.|
|6 to 60 Months||3.10% p.a.|
|Junior-i Fixed Deposit tenure||Profit rate per year|
|3 Months||3.20% p.a.|
|12 Months||3.25% p.a.|
|24 Months||3.25% p.a.|
|36 Months||3.25% p.a.|
|48 Months||3.25% p.a.|
|60 Months||3.25% p.a.|
Types of Hong Leong Islamic Fixed Deposit
There are 3 types of Hong Leong Islamic Fixed Deposit available for customers:
- Fixed Deposit-i: The Fixed Deposit-i comes with a fixed profit rate on the deposit amount. With this package, customers can choose to obtain the profit monthly or at the end of the tenure.
- Junior Fixed Deposit-i: Junior Fixed Deposit-i is designed for the customers who are below 18 years of age. The package’s control is given to the parents, the legal guardian or trustee.
- Online Islamic Fixed Deposit-i: With the facility of depositing and withdrawing online through Hong Leong Connect, this package comes with up to 60 months of tenure and auto-renew option.
Features and Benefits of Hong Leong Islamic Fixed Deposit
The following are the features and benefits associated with the Hong Leong Islamic Fixed Deposit:
- The facility is based on Shariah principles of Islamic banking.
- The Hong Leong Islamic Fixed Deposit comes with an upfront agreement of the fixed profit rate.
- The Hong Leong Islamic Fixed Deposit comes with a flexible range of tenures that can be extended to 60 months.
- Customers can choose to get the profit credited on a monthly basis as well as at the maturity of the facility.
- The Hong Leong Islamic Fixed Deposit comes with a facility of auto-renew at maturity.
- The facility provides customer with hassle-free and convenient services.
- The different packages available under Hong Leong Islamic Fixed Deposit are designed for customers with different deposit needs.
- Customers will get a deposit slip at the time of placement with Hong Leong Islamic Fixed Deposit.
- The Hong Leong Islamic Fixed Deposit packages Fixed Deposit-i and Online Islamic Fixed Deposit-i provide two types of accounts that are personal account or joint account for individuals and company account for organisations.
- The Junior Fixed Deposit-i should have at least 2 accounts under it. One for the applicant, and the other for the parent/legal guardian.
HL Islamic Bank FD Eligibility Criteria
- The facility is available for all citizens of Malaysia (both Muslims and non-Muslims).
- Age requirement:
- For Fixed Deposit-i and Online Islamic Fixed Deposit-i: The applicants must be older than 18 years of age in order to apply for these packages.
- For Junior Fixed Deposit-i: The applicants must be 18 years old or younger in order to apply for Junior Fixed Deposit-i.
- For Fixed Deposit-i and Online Islamic Fixed Deposit-i, the minimum placement for one month should be RM5,000 and for tenures of more than 2 months, the minimum placement should be RM500.
- Individuals and sole proprietorships with Hong Leong Islamic savings and current account can also apply for the Hong Leong Islamic Fixed Deposit.
Open a FD-i account and place a minimum of RM10,000 in the deposit account. You can choose a tenure from the available options—3 months, 6 months, and 12 months. The promotional rate begins at 3.90% p.a. and varies based on the tenure you choose. The promotion is valid till 31 August 2018. You can place a maximum of RM2 million in the FD-i account to get the benefits of the promotion.
|Deposit Tenure||Promotional Rate (% p.a.)||Effective Rate (% p.a.)|
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.
The promotion is available from 7 July 2018 until 31 August 2018. You have to place the deposit in fresh funds only. A maximum of RM2 million can be deposited in the FD-i Account under the promotion.
How to open Hong Leong Islamic Fixed Deposit Account?
In order to open a Hong Leong Islamic Fixed Deposit, applicants can visit their nearest Hong Leong Islamic branch and put in their request for the same. Customers can also contact the bank regarding the request for Hong Leong Islamic Fixed Deposit telephonically via the customer service numbers of the bank. The customers can also put their request for the same online via the official website of Hong Leong Bank.
HL Islamic Bank Contact Number for FD
In order to get further information about Hong Leong Islamic Fixed Deposit, customers can reach out to the HL Islamic Bank via its customer service or hotline numbers that are as follows: +603-7626 8899 and 03-2777 1778.
Q. What is the minimum tenure available with Hong Leong Islamic Fixed Deposit scheme?
A. The minimum tenure available with Hong Leong Islamic Fixed Deposit scheme is 1 month.
Q. Will I get a deposit receipt with Hong Leong Islamic Fixed Deposit scheme?
A. You will receive a deposit receipt with your Fixed Deposit-i and Junior Fixed Deposit-i. But you will not be provided with a deposit receipt for Online Islamic Fixed Deposit-i as it’s an online deposit package. However, you can get information on monthly statements via e-statements.
Q. Can I get a 5 month deposit tenure with Junior Fixed Deposit-i?
A. No. The available tenures with Junior Fixed Deposit-i are 3, 12, 24, 36, 48, and 60 months.
Q. What is the minimum placement requirement with Junior Fixed Deposit-i?
A. The minimum placement required for Junior Fixed Deposit-i is RM1,000. Also the placement above RM1,000 should be in multiples of RM1,000.
Q. How can one transact from the Hong Leong Islamic Fixed Deposit scheme?
A. The transactions can be made using standing instructions and via www.hlisb.com.my.