Hong Leong Financial Group is a popular financial services company that operates in a handful of Southeast Asian countries including Malaysia, Singapore, Hong Kong and Philippines. The company has a robust operational setup in Europe as well. Hong Leong is offers a wide range of banking and financial products, mostly focused on the consumer angle. Among the bank’s various offerings under the consumer banking segment, fixed deposits are one of them.
Time Deposits are always known to be a safe means of investment whilst also acting like a savings instrument. Ideally, banking organizations offering fixed deposits to consumers, have a tenure of anywhere between 1 month and 60 months. Besides offering great returns, they also offer flexibility to customers, enabling them to choose a tenure of their choice and make partial withdrawals from their fixed deposit accounts from time to time.
HLF Singapore Dollar Fixed Deposit Promotion
HLF offers promotional interest rates on 6-month, 12-month and 18-month fixed deposits. Let’s take a look at the available interest rates offered by Hong Leong Finance under its latest fixed deposit festive promotional offer.
|Fresh Funds||6 months (% p.a.)||12 months (% p.a.)||18 months (% p.a.)|
|S$30,000 to < S$50,000||1.10%||1.25%||1.35%|
|S$50,000 to < S$100,000||1.15%||1.35%||1.42%|
|S$100,000 to < S$200,000||1.20%||1.40%||1.42%|
|S$200,000 and above||1.25%||1.42%||1.45%|
Terms and Conditions
- The fixed deposit promotion is available both to corporate accounts as well as individual accounts.
- Premature withdrawal of the fixed deposit account is possible, and interest at 0.10% will be payable on premature withdrawals for every quarter completed before withdrawal.
- Hong Leong Finance will charge a fee of S$50 in case of premature withdrawals before the end of the original tenure (the tenure chosen during opening of the fixed deposit account).
- Under the Deposit Insurance Scheme, deposits up to the tune of S$50,000 will be protected.
- The promotion period expires at the discretion of HLF.
- The minimum deposit amount for this promotion is S$30,000.
For further information on this promotion or for full terms and conditions, please contact the bank.