11th June 2024 - 2 min read
Hong Leong Bank has launched a deposit promotion for its HLB Wallet Account which is set to run from now until 30 June. Exclusive to only new HLB Wallet users, this promotion allows you to earn a 4.70% p.a. daily interest/profit rate until 7 July 2024. This is part of a teaser campaign before a larger one for all HLB customers later in July.
The promotional 4.7% p.a. profit/interest rate is applicable to the first RM70,000 balance in the account, and account holders must maintain a minimum end-of-day balance of RM4,700. Maximising this promotional rate will earn RM252.38 in interest/profit over the 28-day period (which started on 10 June).
As with other promotional deposit campaigns, there is a maximum placement cap which is set at RM700,000,000 across all participating HLB Wallet Accounts, and available on a first-come, first-served basis.
Furthermore, Hong Leong Bank also hinted at a bigger campaign to come, beginning on 8 July 2024. Traditionally, July is HLB’s Digital Day campaign which includes a huge amount of month-long banking promos, from savings and fixed deposit, credit cards, loans, and various lifestyle offers – here’s a snippet of Hong Leong Digital Day in 2020.
HLB Wallet is Hong Leong Bank’s “digital wallet” which was launched last year, combining the features of an e-wallet app and a multi-currency account. If you’re interested in opening an HLB Wallet Account/-i, you can do so online via the Apply@HLB app or by visiting your nearest Hong Leong Bank branch, available for all individuals aged 12 and above.
(Source: Hong Leong)
Subscribe to our exclusive weekly newsletter and we’ll bring you the week’s highlights of financial news, expert tips, guides, and the latest credit card and e-wallet deals.
Stay tuned for what’s to come next in the personal finance world
Comments (2)
Trap! Earn 0% interest since you won’t know whether placement cap is reached.
Don’t generalize such BS action by GXBank, AEON Bank and now HLB Wallet by saying “As with other promotional deposit campaigns”
Rize by Al-Rajhi Bank had been offering a very competitive promo rate for an extended duration of time with NO PLACEMENT CAP. Should refrain from falling into such BS promo with placement cap by BS entities.
I understand your concern about placement caps in promotions. From our perspective, HL aims to offer competitive promotions that cater to a wide range of needs.