What is the Mach by Hong Leong Dream Jar all about?
At first glance, the Mach by Hong Leong Dream Jar might not look like a regular savings account, and perhaps it isn't! First of all, this is a goal savings account, which makes sure you save a portion of your income each month. To fully realise your goals, you will first need to determine a few things:
- The amount you want to save
- How long you wish to save for - 6,9,12 or 18 months
- Your initial deposit
With these information, the Dream Jar will then calculate how much you will need to contribute to your Dream Jar account every month via a Standing Instruction, which is mandatory. You will of course earn interest earnings, calculated daily on your balance. You are allowed a maximum of 5 Dream Jars at any point in time.
Okay, any other interesting features and benefits?
Yes, a lot more! If you wish to make a withdrawal, you are allowed to do so at anytime with ZERO withdrawal fees. Unlike other multi-tiered savings accounts which gives you higher interest on higher deposits, you will receive 2% p.a. on ALL balances, whether its RM100 or RM10000! Lastly, if you've been a good boy or girl, making prompt monthly deposits, you will receive a top-up cash reward.
Sounds great, who can apply for the Mach by Hong Leong Dream Jar?
The most important thing is that you must first be a Mach by Hong Leong Money Box Deposit account holder. You will need to be a Malaysian citizen with a valid MyKad, and is at least 18 years old.
Why is it that I must be a Mach by Hong Leong Dream Jar member first?
This is because you will be using Hong Leong Connect, the bank's very own online banking portal. You will need to be able to place an intial deposit and also withdraw from your Dream Jar account straight from the Money Box Deposit Account via Hong Leong Connect.