Actively trying to save money can be hard, but it’s always beneficial to have a contingency. Hong Leong Online Islamic Fixed Deposit-i is a Shariah compliant fixed deposit account with a fixed rate of return on investment.
What do I get from this fixed deposit?
A fixed deposit account is a place where you get to earn more for the money you save, giving you returns on the hard work you already put in. The minimum for a 1-month placement with upfront interest is RM5,000. If you’re looking for a longer term, you only need a minimum of RM500.
The tenure ranges from 1 month to 60 months, with competitive interest rates. These numbers are not based on the amount of your placement, solely on the tenure that you choose.
What benefits can I get from this fixed deposit?
Besides earning higher returns on your money, you can also enjoy some of the great features such as follows:
- Option to renew your fixed deposit account automatically upon maturity
- Option to receive profit payment on monthly basis or upon maturity
- Ease of money management via Hong Leong Connect online banking
- No fixed deposit receipt will be issued as everything is kept digitally
Can I make a partial or full withdrawal before maturity date?
Hong Leong Islamic Bank allows you to make a partial and full withdrawal before the completion of your fixed deposit tenure. However, you will no longer receive any profit payment on the withdrawn amount.
This new terms and conditions applied when you uplift it before the completion of your tenure and when you renew your fixed deposit account after January 2019.
Am I qualified to apply for this fixed deposit?
If you are Malaysians, 18 years old and above, and have either a Savings or Current account with Hong Leong Bank or Hong Leong Islamic Bank, you can open this fixed deposit account.