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Hong Leong Finance Fixed Savings Account

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Rating: 5.0/5.0 (1 Reviews)
Interest RateUp to 0.93%
Min. Deposit $200 monthly
Review on Hong Leong Finance Fixed Savings Account
Pros

High interest rate for savings account

Low monthly deposit

Established presence in neighbourhoods

Cons

Bonus interest rate applied only on designated GIRO transfers

Requires fixed monthly GIRO transfers that cannot be withdrawn

Actual interest rate of around 0.93% p.a. instead of headline 1.5% p.a. due to bonus interest being applied only on GIRO transfers

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Deposit Details Deposit Details

  Interest
Base Interest 0.20% p.a.
Bonus Interest 1.30% p.a.
Total 1.50% p.a.

 

Earn up to 1.50% p.a. (Additional 1.30% interest + 0.20% base interest) on your monthly savings via GIRO transfers

Earn 0.15% base interest for deposits of $500 to $49,999 and 0.20% base interest for deposits of $50,000 and above

Actual effective interest rate of up to 0.93% p.a. if applied for deposits annually

Initial deposit from $100

No fall below fee

One account per customer

 

Deposit Interest Rates Interest Computation

Monthly Giro Bonus Interest
$0.2k to < $1k 1.10% p.a.
$1k to <5k 1.20% p.a.
$5k to <$8k 1.30% p.a.

 

Receive bonus interest when through saving through fixed monthly GIRO transfer from $200 to $8,000

Bonus interest rate of up to 1.30% p.a. will be applied on monthly GIRO transfers

Bonus interest is payable in January and July and is only credited if the GIRO funds are not withdrawn

The bonus interest is in additional to attractive rate for deposits that ranges from 0.15% to 0.20% p.a. depending on amount of deposits

 

Click here to go to Hong Leong Finance website for more details

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1 Reviews
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Rating:
5.0/5.0 (1)
5.0/5.0 (1)
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