What is the Hong Leong Premium Savings Account?
This premium account is in most ways similar to a savings account but with a much larger intended capacity for the premium banking customers that come to Hong Leong Bank. First of all this account comes with daily interest rates and flexible withdrawals in case you need to have easier access to your cash.
How does the account work?
So to be eligible for this Premium Savings Account you will need to have a minimum of RM10,000 in either a Hong Leong Current or Savings Account or that amount or more on hand. Then you can be invited to open up a Hong Leong Premium Savings account to manage that finance amount and earn interest on it.
The account can deposit anything from RM10,000 to a mx input of RM2million per customer. Unlike most savings account that need a specific amount of funds for you to earn interest, this one requires for you to have only the minimum amount. Simply because the interest is calculated based on the duration of time the monies has been deposited.
If you plan on leaving your money in the bank without ever withdrawing it, then you can earn up to 2.30% p.a. interest. However, you do still have the option to withdraw from the account every 15 days. Just know that you interest earning cycles will change every time you withdraw.
How to I make a withdrawal?
This Premium savings account does not work the same way as a regular savings account where you can ‘tekan’ cash at an ATM. To make a withdrawal you will need to credit cash from the account into a nominated existing Hong Leong Bank current or savings account. It is from the designated account that you can make withdrawals.
Can anyone open an account?
No unfortunately you will need to be invited or you will need to ask to be invited to open this account. You will need to be an existing customer of Hong Leong Bank with either the amount of funds required in an existing current or savings account. It’s after this that you get to transfer those funds into a new account for better earnings.
Any individual or joint account holder can sign up as long as you are over the age of 18.