How much money do I need to invest?
This is a premium fixed deposit with higher than average interest rates, so the minimum initial deposit is also slightly steep at RM50,000. You can apply with a placement of 6, 12 or 24 months. If you're well invested in this FD, you can continue to grow your wealth and continue depositing in multiples of RM10,000.
Can I make partial withdrawal before maturity?
Yes, you can. Unlike many FDs in the market, you're free to withdraw money whenever you want on this Hong Leong Bank fixed deposit account. The best part is that you will not lose interest on the remaining balance after all!
The withdrawal amount should be at least RM3,000 and above, in multiples of RM3000. However, you will always be subjected to an interest penalty by The Association of Banks Malaysia (ABM). You can always check the remaining outstanding balances without going to bank as it is recorded and printed on the reverse page of your fixed deposit receipt.
How to withdraw my money?
Unlike a savings or current account, the fixed deposit withdrawal can only be made at a Hong Leong Bank branch. For your convenience, any Hong Leong Bank branch within Malaysia will able to assist you with your request to withdraw.
How will I earn my interest?
Your monthly interest will be credited monthly to your chosen Hong Leong Bank savings or current account.
What are the fees and charges to be aware of?
In general, there's no fees and charges involved on this FD account. However, you will be charged at RM5 on the loss of your fixed deposit receipt.
Is my money safe with the Hong Leong Priority Banking Fixed Deposit?
Yes, this FD placement is eligible for Perbadanan Insurans Deposit Malaysia ( PIDM) protection for up to RM250,000.