What do I need to know about this account?
This is an Islamic non-interest bearing current account that adopts the Syariah principle of Wadiah. For your convenience, you can always access Internet banking via Hong Leong Connect.
For quick banking inquiries, Hong Leong phone banking service will be available at all hours of the day. Account holders will be able to enjoy the convenience of writing cheques but unfortunately, there will be no overdraft services available. Upon opening the Hong Leong Islamic Current Account-i, you will be given an ATM card that also serves as a debit card. Account holders will have access to account statements to keep track of all transactions.
What is good about this Hong Leong Islamic Current Account-i?
You can take advantage of Hong Leong's free standing instruction service to link your current account to pay for your loan instalments such as the Hire Purchase Financing-i and Property Financing-i from Hong Leong Bank.
Additionally, no service charge will be imposed for insufficient funds when executing the Standing Instruction.
Any 'gotcha' fees and charges I need to look out for?
The cheque book will cost you RM7.50 per book. Returned cheque due to insufficient fund will cost you RM150. You will be penalised RM20 if your half year average balance is below RM1000.
What should I be aware of before opening a Current Account-i from Hong Leong Islamic Bank?
You can decide to open an individual account, or as a joint account with another person - your significant other perhaps? Both Muslim and Non-Muslims aged 18 and above are eligible to open this Islamic current account. Don't forget, you will need at least RM500 as an initial deposit and an introducer.
For a registered company, the account must be registered with Suruhanjaya Syarikat Malaysia and involved in activities permitted under Islamic principles.