mach Fixed Deposit by Hong Leong Bank
Minimum deposit required: RM1,000
Up to 3.6% interest rate per annum
Requires mach by Hong Leong Money Box savings account
Protected by PIDM, up to RM250,000
What is it?
The mach Fixed Deposit by Hong Long is an easy to manage fixed deposit (F.D.) programme that makes it easy for anyone and everyone to earn high return rates, with minimal amounts of deposits. At its core, it’s an online F.D. programme, so you don’t have to constantly head to a Hong Leong branch to manage your account.
How much is the Minimum Deposit?
You’ll need a minimum of RM1,000, and deposit it for a period of 3, 6 , 9 or 12 months. If you plan to deposit more than RM5,000, you have the option of depositing the amount for a period of 1 month.
Eager to start your F.D. account with Hong Leong? The first step is to create a mach by Hong Leong Money Box savings account. You’ll need a minimum deposit of RM1,000. There is no annual fee, and the interest rate varies from 0.8% to 1.8% per annum.
Wait! There’s more! To maximise your savings, you can opt to set up a mach by Hong Leong Dream Jar once you’ve set up your Money Box account. With Dream Jar in place, you can earn extra cash rewards when your monthly deposit goals are reached. You can open up to 5 Dream Jars. Interest rate is 2% per annum, there’s no annual fees, and the minimum deposit needed is RM1,000.
By default, your mach F.D. account will automatically renewed upon reaching maturity, so all you need to do is sit back, and wait for your investments to mature.
You earn interest credits at the end of every month, but you will need to honor the maturity period before you can earn anything.
You can perform full withdrawals or partial withdrawals before maturity, but you can only make a partial withdrawal of at least RM3,000 for a minimum deposit of RM10,000. For full withdrawals, you receive only 50% of the interest earned, while partial withdrawals will continue to earn the pro-rated interest rates.
For more information, visit https://www.machbyhongleongbank.com/mach-fixed-deposit.