What do I need to know about the Mach Fixed Deposit?
Mach's Fixed Deposit is an investment product that comes with attractive interest rates and extra benefits to make your life easier and your wealth more profitable.
Lower Initial Deposit - you only need to deposit RM1,000 to get started.
Monthly Interest Credits - at the end of every month, interest earned on your Mach FD is credited to your Mach Money Box current account.
Online Management - once your Fixed Deposit account is set-up you can manage it entirely online. No need to visit the branch to issue instructions to the bank, just log on to Hong Leong Connect.
Can I choose my interest crediting account?
No, you can only credit your monthly interest earnings in the Mach Money Box Deposit Account.
How do I sign up for Mach Fixed Deposit?
Firstly, you must have a Mach Money Box account to open a Mach Fixed Deposit. It's really easy to open a Money Box account, just visit a Mach Branch with your MyKad and RM200 to deposit as your opening balance.
You can then open a Mach Fixed Deposit online using Hong Leong Connect. If you deposit your placement by cheque, there's no more need to wait for it to clear - you'll start earning interest from the moment you make your placement.
Will I get a fixed deposit certificate?
Nope, as this is an online FD account, you can instead conveniently check your account details by going online and login to Hong Leong Connect. There, you can view your monthly e-statements, together with your Money Box e-Statement of accounts.
Can I withdraw my money before maturity?
You can perform full withdrawals or partial withdrawals before maturity. However, you can only make a partial withdrawal of at least RM3,000 for a minimum deposit of RM10,000 for 6 months tenure. For full withdrawals, customers will only be able to receive 50% of the interest earned, while partial withdrawals will continue to earn the pro-rated interest rates.
If you want to withdraw when only 3 months into your placement, tough luck, you won't be getting any interest from Mach by Hong Leong Bank!
How to renew my FD?
Your Mach FD will be automatically renewed once your investment reaches maturity, unless you've told them otherwise beforehand.
Is this a secured account?
Yes. All your savings in Money Box Deposit and Mach Fixed Deposit are protected by PIDM for up to RM250,000.