What do I need to know about Hong Leong Bank Flexi FD?
Hong Leong Bank Flexi FD links two accounts in one, letting you manage and maximise your savings with flexibility and convenience. Your Fixed Deposit account is linked with a Flexi One Current account giving you easy access to your invested money and instant payment of profits.
What are the benefits of Hong Leong Bank Flexi FD?
When your Flexi One Account balance exceeds RM30,000, Hong Leong Bank will automatically transfer excess cash into your Flexi FD. With this feature you can earn interest easier and faster and you'll never forget to transfer money you're not using into an FD account that will earn you great interest.
And that's not all, you'll also enjoy the flexibility of using the Current Account like a normal account, with a cheque book.
Ever mindful that going the extra mile helps, Hong Leong Bank will also transfer the money from your Flexi FD to your Flexi One Current account when you have insufficient funds for your day-to-day banking.
This feature, known as Auto-Sweep, makes sure you'll always have working capital on hand to pay the bills and honour cheques. Each auto-sweep is in multiples of RM3,000 and the bank will charge a fee of RM5 for each transfer.
Can I make a partial withdrawal from this Fixed Deposit account?
You can make a partial withdrawal and still earn interest with your remaining balance. Each partial withdrawal must be in multiples of RM3,000, and a fee of RM5 will be charged as the transfer goes through. However - and this is important - withdrawals are free over the counter in the bank.
Who can open one of these Hong Leong Bank Flexi FD?
This account is only for folks over 18 years of age. Hong Leong Bank only needs a copy of your Identification Card - and some money. The minimum initial deposit to open the Flexi FD is RM10,000.
Is my money inside Hong Leong Bank Flexi FD guaranteed?
Yes, this fixed deposit is protected. Your deposit in both Flexi FD and Flexi One Account will be secured by PIDM against loss of money in the event of the bank’s failure.