Hong Leong Fixed Deposit

Hong Leong Finance fixed deposit schemes are designed for you to earn high returns on your savings. Hong Leong Finance offers 3 different types of fixed deposit schemes. They are: Fixed Deposits, Silver 40 Plus, and Golden 55 Plus time deposit accounts. While the general Fixed Deposit account comes with a low initial placement amount of S$500, the other 2 require a minimum placement amount of S$50,001. The 3 accounts each offer different tenures. Generally speaking, these tenors can start from 1 week and go up to 36 months. Unfortunately, Hong Leong Finance does not offer any foreign currency term deposits for its customers. Choose to invest in Hong Leong Finance fixed deposit schemes and potentially earn as much as 1.25% p.a. interest on your investments.

Hong Leong Finance FD Interest Rate

All Hong Leong Finance time deposit accounts are SGD accounts since they do not offer any foreign currency fixed deposits.

Fixed Deposit Rates

Tenures available for this account range from a minimum of 1 week to a maximum of 36 months.

The following table provides the interest rates available for the general Hong Leong Fixed Deposit account:

Tenure (Months) Board Rates (% p.a.) S$50,000 Special Rates (% p.a.) S$50,000 – S$249,999 Special Rates (% p.a.) S$250,000 – S$999,999
1 0.1 0.35 0.40
2 0.1 0.35 0.40
3 0.15 0.6 0.65
4 0.15 0.6 0.65
5 0.15 0.6 0.65
6 0.25 0.75 0.80
8 0.25 0.75 0.80
9 0.3 0.8 0.85
10 0.3 0.8 0.85
12 0.45 0.88 0.90
13 0.45 0.88 0.90
15 0.45 0.9 0.95
18 0.6 0.9 0.95
24 0.7 1.0 1.05
36 0.7 1.1 1.15

*For deposits of S$1 million and above, kindly enquire with any Hong Leong Finance branch for the prevailing rates.

Note: Rates are only indicative and are correct as of 22 January 2019.

Silver 40 Plus Rates

Tenures available for this account are 6 months, 8 months, and 9 months.

The following table lists the interest rates available for the Silver 40 Plus account, where the Effective Rates of Interest provided incorporate the 5% Maturity Bonus earned at maturity:

Tenure Interest Rates Maturity Bonus Effective Rate
6 Months 0.305% p.a. 5.000% p.a. 0.320% p.a.
8 Months 0.305% p.a. 5.000% p.a. 0.320% p.a.
9 Months 0.334% p.a. 5.000% p.a. 0.350% p.a.

Note: Rates are only indicative and are correct as of 22 January 2019.

Golden 55 Plus Rates

Tenures available for this account are 12 months, 15 months, 18 months, and 24 months.

The following table lists the interest rates available for the Golden 55 Plus account, where the Effective Rates of Interest provided incorporate the 5% Maturity Bonus earned at maturity:

Tenure Interest Rates Maturity Bonus Effective Rate
12 Months 0.996% p.a. 5.000% p.a. 1.050% p.a.
15 Months 0.950% p.a. 5.000% p.a. 1.000% p.a.
18 Months 0.997% p.a. 5.000% p.a. 1.050% p.a.
24 Months 1.092% p.a. 5.000% p.a. 1.150% p.a.

Note: Rates are only indicative and are correct as of 22 January 2019.

Features and Benefits of Hong Leong Finance Fixed Deposits

Hong Leong Finance fixed deposits come with the following features and benefits:

  • Low minimum age requirement of 15 to open an account.
  • Flexible choice of tenors ranging from 1 week to 36 months.
  • Affordable minimum initial placement deposit amount starting at S$500.
  • 5% Maturity Bonus on the deposited amount offered on select term deposit accounts.
  • Convenient auto-credit of monthly interest payout and Maturity Bonus into a linked savings account.

Fixed Deposit Schemes Offered by Hong Leong Finance

Fixed Deposit

This account is a general fixed deposit account. It offers tenures of 1 week, 1 month, 2 months, 3 months, 4 months, 5 months, 6 months, 8 months, 9 months, 10 months, 12 months, 13 months, 15 months, 18 months, 24 months, and 36 months. These tenures come with interest rates of up to 1.25% p.a. on deposits from S$500 to less than S$1 million. You will get a senior citizen rate of 0.125% p.a. on top of the prevailing rate if you are aged 55 and above and your tenure is 12 months or over. Tenures of 3 months and above require a minimum deposit of S$500, while tenures of 1 or 2 months need a minimum deposit of S$10,000. Tenures of 1 week require a minimum sum of S$100,000 deposited in the account.

Silver 40 Plus

This account is for customers aged 40 and above looking to maximise returns on their savings. The minimum required deposit amount that comes with this account is above S$50,000. It offers tenures of 6 months, 8 months, and 9 months and interest rates of up to 0.334% p.a. If you were to include the Maturity Bonus of 5% offered at the time your deposit reaches maturity, you could potentially get an effective interest rate of 0.35% p.a. The Silver 40 Plus account is unique in that no penalty is applied for early withdrawals for deposits of S$50,001 to S$999,999. Additionally, it conveniently auto-credits your monthly interest payouts and your Maturity Bonus into your linked Savers Plus Savings Account, which can be opened with an initial deposit as little as S$100.

Golden 55 Plus

This fixed deposit account is designed for customers aged 55 and above. The minimum deposit amount for this account is above S$50,000 as well. It offers tenures of 12 months, 15 months, 18 months, and 24 months and interest rates of up to 1.092% p.a. Adding the 5% Maturity Bonus, the effective interest rate on your deposit would jump to as high as 1.15% p.a. The Golden 55 Plus account also does not apply an early withdrawal charge, provided your deposit is between S$50,001 and S$999,999. This account also auto-credits any monthly interest payouts and any earned Maturity Bonuses into your linked savings account, which only requires an initial deposit of as little as S$10.

Eligibility?Criteria to Open a Hong Leong Finance FD Account

  • Minimum age*: 15 for all listed time deposit accounts with Hong Leong Finance.
  • Minimum tenor: Starts from 1 week.
  • Maximum tenor: Up to 36 months.
  • Minimum placement amount: Starts at S$500.

Required Documents:

Singaporeans & PR holders:

  • NRIC

Foreigners:

  • Valid passport
  • Student Pass, Work Permit, or Employment Pass

Other Deposit Accounts Offered by the Bank

Hong Leong Finance offers a number of savings accounts you may want to know more about to help you manage your finances.

Savings accounts available with Hong Leong Finance include:

  • Fixed Savings Account
  • Savers Plus
  • Savings Account

News about Hong Leong Fixed Deposit

  • Hong Leong Finance Fixed Deposit Promotion

    Run Time: Ongoing Promotion

    Open a fixed deposit account with Hong Leong Finance and enjoy very attractive interest rate on the deposit amount. The promotional rates offered are as follows:

      • Deposit fresh funds of SGD 25,000 to less than SGD 50,000 and enjoy an interest rate of 1.76 percent p.a. for a tenure of 13 months and 1.83 percent p.a. for a tenure of 18 months.

      • Deposit fresh funds of SGD 50,000 to less than SGD 100,000 and enjoy an interest rate of 1.79 percent p.a. for a tenure of 13 months and 1.85 percent p.a. for a tenure of 18 months.

      • Deposit fresh funds of SGD 100,000 to less than SGD 200,000 and enjoy an interest rate of 1.85 percent p.a. for a tenure of 13 months and 1.87 percent p.a. for a tenure of 18 months.

      • Deposit fresh funds of SGD 200,000 or more and enjoy an interest rate of 1.85 percent p.a. for a tenure of 13 months and 1.92 percent p.a. for a tenure of 18 months.

    Terms and conditions

      • The promotional rates are available only for a short duration of time and for deposit of fresh funds. If the deposit amount is not held for a minimum period of 6 months, you will be charged a fee of SGD 50.

      • Please contact the bank to know about all applicable terms and conditions.

  • Hong Leong Finance’s 3rd Quarter Profit Rises By 17 Percent

    The 3rd quarter profits of Hong Leong Finance has risen by 17 percent due to rising income from interest, better yield from loans and an expansion of its loan base. The net profit for the financial company in the 3rd quarter that ended on 30 Sept, 2015 was $16.8 million, an increase of 17.4 percent from last year.

    The interest earned from loans in the 3 months rose by 18.2 percent from 2014 to $59.5 million. Hiring charges and net income from interest saw a rise of 8.8 percent to $40.9 million. The net loan assets of the company was at $10 billion as of 30 Sept, 2015. The performance of Hong Leong Finance has improved consistently for the last 4 months.

    07th November 2015

  • Hong Leong Finance Promotion

    Run Time – It is an ongoing offer.

    Particulars – Avail attractive interest rates when you make fixed deposits for a period of 3 and 6 months.

    •If your fixed deposit amount is between SGD 50, 000 and SGD 250, 000, then the interest rate you will avail for 3 months is 1.25 percent and 1.55 percent for 6 months

    •If your fixed deposit amount is between SGD 250, 000 and SGD 500, 000, then the interest rate you will avail for 3 months is 1.30 percent and 1.60 percent for 6 months

    •If your fixed deposit amount is SGD 500, 000 and more, then the interest rate you will avail for 3 months is 1.35 percent and 1.65 percent for 6 months

    Terms and Conditions –

    •This offer is available for both existing and new funds

    •The offer is available to both corporates and individuals

    For more information about the offer and its terms and conditions, please contact Hong Leong Finance.

  • Hong Leong Finance Fixed Deposit Promotion

    Run Time – This is an ongoing offer.

    Particulars – Avail attractive interest rates when you make fixed deposits with Hong Leong Finance for a period of 12 and 18 months.

    •If your fixed deposit amount is between SGD 50, 000 and SGD 100, 000, then the interest rate you will avail for 12 months is 1.70 percent p.a. and 1.75 percent p.a. for 18 months

    •If your fixed deposit amount is between SGD 100, 000 and SGD 200, 000, then the interest rate you will avail for 12 months is 1.75 percent p.a. and 1.85 percent p.a. for 18 months

    •If your fixed deposit amount is between SGD 200, 000 and more, then the interest rate you will avail for 12 months is 1.80 percent p.a. and 1.85 percent p.a. for 18 months

    Terms and Conditions –

    •This offer is available to individuals and some selected non- individuals like religious organizations, non- profit organizations, town councils, etc.

    •All the deposits have to be only Fresh Funds which means cheques or cash that has not been withdrawn or transferred from an existing account of Hong Leong Finance for the Fixed Deposit

    For more information about the offer and its terms and conditions, please contact Hong Leong Finance.

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