Hong Leong Bank FD Promotions

Chinese New Year is getting nearer and nearer. Hong Leong Bank is now having a series of FD promotions to celebrate the upcoming Year of Horse. Greet the new year with high FD rate and usher in good fortune.

The first promotion is a 6-month step up bundle FD with up to 3.68 % p.a. interest rate. The minimum FD placement amount is RM 5000 and the maximum amount is up to RM 1000000. 8% of the FD placement amount will need to be deposited into CASA and earmarked for 3 months. The effective interest rate for the FD promotion is 3.43% p.a. and the promotion is valid until 28 February 2014 or upon reaching the fund size of RM 800 million, whichever comes first.

On 13, 15, 16, 20 & 21 January 2014, selected Hong Leong Bank branches are extending banking hours from 4.30pm to 8.00pm to reward eligible customers with 24K gold-plated horse figurine. To be eligible for the gift, customers are required to deposit fresh fund of RM 38000, RM 68000 and RM 138000 into their CASA and earmark for 3 months. Once customers take up this offer, they can also enjoy 6-month FD of 3.80% p.a. The minimum FD placement amount is RM 5000 and the maximum must not exceed the CASA earmarking amount. FD and CASA placement must be made concurrently.

Hong Leong Mach FD gives you a high interest rate of 3.70% p.a. on your 6-month FD from 8th January to 28th February 2014 or upon reaching RM 150 million fund size, whichever comes earlier. The promotion is open to all new and exisint Mach individual FD customers. Minimum placement amount of RM 1000 and maximum amount of RM 250000 is required to be deposited into Mach FD to order the promotional rate.

Hong Leong 6-month Step Up Bundle FD

Besides the Mach FD, Hong Leong Bank brings you another 6-month Fixed Deposit Step Up Rates bundle with Current Account or Savings Account (CASA) promotion from 1st October 2013 until 31st January 2014, or upon reaching fund size of RM 500 million, whichever comes first.

This FD promotion is open to all new and existing customers including Malaysian and non-Malaysian Residents and Non-individual customers. The promotion is applicable for fresh fund only. The minimum placement amount in FD and CASA is as follows:

Types of Customers	FD Placement Amount	Deposit Amount in CASA
Mass/ Non-PB	RM 10000 to RM 1000000	5% of FD Placement Amount (earmarked for 3 months)
Priority Banking (PB)	RM 50000 to RM 2000000

The promotional interest rates for 6-month FD Step Up Rates are as follows:

	Month	1st to 2nd	3rd to 5th	6th
Mass/Non-PB	Interest Rate (p.a.)	3.10%	3.20%	4.00%
Priority Banking	Interest Rate (p.a.)	3.10%	3.20%	4.50%

Eligible customers are required to deposit the stipulated amount into one of the following CASA:

1. Hong Leong Basic Savings Account
2. Hong Leong Savings Account
3. Hong Leong Senior Savers Savings Account
4. Hong Leong One Account
5. Hong Leong Pay & Save Account
6. Hong Leong SmartLink Account
7. Hong Leong Basic Current Account
8. Hong Leong Current Account

Besides, Non-PB customers are entitled for the Early Bird Specials on first-come-first-served basis. First 200 customers with minimum deposit of RM 300000 in FD and RM 18000 in CASA are eligible to get a pair of Universal Studios Singapore One Day Pass (worth SGD 148).

New and existing Non-PB Individual customers who are primary accountholders and Malaysian will automatically qualify to participate in the following contest. Daily cash prize of RM 1000 will be given away to one winner on weekdays (Mondays to Fridays), excluding Public Holidays. 

Every deposit of RM 10000 per FD receipt entitles customers to earn one contest entry. Customers' Account must remain active with a minimum qualifying balance of RM 10000 in FD and RM 600 in CASA from 31st January until 31st March 2014, else customers will be disqualified from the contest.

The effective interest rates for the FD are 3.12% p.a. for Non-PB and 3.20% p.a. for PB. The rates are actually quite low. You can get better rates with Mach FD.

Mach Fixed Deposit

Mach Fixed Deposit Account by Hong Leong Bank (HLB) is a fixed deposit account which allows account creation, placements and withdrawals to be performed via HLB online banking, Hong Leong Connect. HLB had recently revised and improved its Mach FD interest rate to be more competitive.

Mach FD is only applicable for individuals, either personal or joint, who are holders of a Hong Leong Money Box Deposit Account. Mach FD will be linked to customer’s Money Box. Interest earned shall be credited on a monthly basis into the Money Box at the end of each month.

Placement of a fixed deposit must be made according to the following tenures; 1 month, 2 months, 3 months, 6 months, 9 months and 12 months. Minimum placement required is RM 5000 for 1-month FD tenure and RM 1000 for FD with tenures of 2 months or more. No fixed deposit receipt will be issued but the FD account activities will be reflected in customer’s Money Box monthly statement.

Withdrawals can only be performed via Hong Leong Connect. Partial withdrawals are allowed with condition that the FD account must be 6-month tenure or more and with minimum principal amount of RM 10000. Minimum partial withdrawal is RM 3000 and in multiples of it. Amount withdrawn shall be credited to customer’s Money Box.

Mach has been operating its first branch out of Klang Valley in Gurney Paragon, Penang since end of July 2013. All new and existing customers who open FD account Mach Gurney Paragon Penang Branch are eligible for Mach Fixed Deposit 3 Months at 3.55% p.a. promotion. The campaign started on 24th July 2013 and ends on 31st October 2013 or upon receiving RM 100 million. Customers are required to deposit a fresh fund of minimum RM 10000 and maximum RM 100000 to enjoy the promotional FD interest rate.

eFD promotions by AmBank & Hong Leong

There are many banks that offer eFD service that let you place Fixed Deposit yourself through online banking. eFD really saves you a lot of time and hassle to go to branch just to place FD.

AmBank and Hong Leong Bank are currently doing promotion for their eFD. Let's see what is the offer from AmBank eFD Bonus Rate for Life campaign first. The promotion started from 4th January to 28th February31st March 2013. Customers need to place minimum RM 5000 in eFD via AmOnline for the tenure of 3, 6, 9 or 12 months.

Eligible customer will get a preferential interest rate of 0.20% p.a. on top of prevailing Fixed Deposit Board Rate. The bonus rate will continue to apply to any rollovers and/or renewals of the eFD that placed during the Campaign Period, as long as the  original  placement is not uplifted and/or withdrawn (either partially or whole).

Hong Leong Bank Mach FD Launch campaign starts on today and ends on 7th March 2013 or the fund reaches RM 100 million, whichever comes first. Customers are required to deposit minimum RM 10000 and maximum RM 250000 into Mach FD to enjoy the special interest rate for tenure of 6, 9 or 12 months. Auto-renewal of promotional FD interest is not allowed. Upon maturity, the Mach FD shall be renewed at the prevailing board rate of the contracted tenure.

Below is the comparison table of eFD by local banks:

Tenure	Maybank	CIMB	AmBank	Mach FD
1-month	3.00%	3.00%	3.05%
3-month	3.05%	3.05%	3.20%
6-month	3.10%	3.10%	3.35%	3.60%
9-month	3.10%	3.10%	3.35%	3.66%
12-month	3.15%	3.15%	3.40%	4.00%