Hong Leong Bank Berhad is a Malaysia-based bank that became the first Malaysian bank to enter China’s banking sector. It emphasises the development of financial capabilities to serve its clients across five continents and ensure efficiency and convenience. HLB launched a full suite of online banking systems for corporate, commercial, and SME banking, with comprehensive solutions designed to assist clients in managing their businesses smoothly.
Fixed deposit (FD) is a type of short-term investment where you can put your money and agree not to take it out for a set length. When the terms are over, investors will get higher interest rates than they would on regular savings accounts! The government insures it, so there is not much risk involved in this choice.
You should know the interest rates upon maturity to ensure you gain a great amount of return. Interest rates differ from bank to bank and tenure to tenure.
Different banks offer different tenures, ranging from 1 month to a few years. Choose the one that suits your needs and financial goals.
It is crucial to identify all costs incurred to avoid spending more than expected.
You should be informed of the penalty amount to know what to expect if you need to withdraw the money before maturity.
Being aware of the customer service and the reputation of the bank you are planning to apply your fixed deposit account is an important step! Do thorough research before deciding on a bank.
Hong Leong Bank offers 1 type of fixed deposit, which is HLB Fixed Deposit Account.
You are eligible to apply for HLB Fixed Deposit Account if you are:
It is applicable for individual and non-individual accounts.
Among other reasons, you should choose HLB Fixed Deposit Account because:
Your identification card is the only document needed to apply for HLB Fixed Deposit Account.
1 to 60 months.
It depends on your tenure (*1.5% – 1.6% p.a.)
RM50 (for Priority Banking customers with an average balance below RM100,000 for 3 consecutive months)
Replacement of lost FD receipt
RM5 per receipt
Letter of Indemnity stamp duty
Addition of join accountholder
RM10 per account
To learn more about the interest rates, click here.
*As of 25 March 2022
If you place your deposit or renew after 1 January 2019, no interest will be paid to you. For partial withdrawal, only multiples of RM1,000 are allowed.
You can contact Hong Leong Bank through these channels:
It stands for per annum or each year.
The amount of return earned by depositors.
The amount of time the money is locked in a fixed deposit account.
The amount of money locked in a fixed deposit account to earn interest.
The additional charge from the bank for withdrawals before maturity (or premature withdrawal).
The end of a set time when an investment becomes due, and the principal and interest are repaid.
The money withdrawal in a fixed deposit account before maturity.
The withdrawal of part of the amount in a fixed deposit account before maturity.