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1. Hong Leong Finance
2. Hong Leong Fixed Deposit Promotion
3. Fixed Deposit (FD) Promotion, EFD Promotion - Hong Leong Bank

The next holiday most of us are looking forward to is probably the Christmas Season. In the month of November, banks have launched their Fixed Deposit Christmas Promotion where we can look forward to some attractive interest rates.

Foreign Currency Fixed Deposit - With a Foreign Currency Fixed Deposit, customers can earn potentially better returns with our Foreign Currency Fixed Deposit account. Note: Rates subject to change without prior notice from the Bank. USD AUD CAD CNY EUR GBP HKD JPY NZD SGD; 1 DAY-1WK-2WK. You are leaving Hong Leong Bank's website. Interest rate of up to 1.98% p.a. Will apply for the first S$200,000 daily balance. These interest rates are effective from 1 February to 30 April 2020 and apply to individual depositors only. There will be no passbook given for an iSavings account. HL Bank reserves the right to change, vary or revise these interest rates from time to time in. Hong Leong Finance current highest fixed deposit rate is 0.52% p.a. For 12 months tenure with minimum deposit of $20,000. The current highest fixed deposit rate is a Hong Leong Finance fixed deposit promotional rate The current Money Lobang National Average Fixed Deposit Rates for February 2021 is 0.47% p.a.

For those who has a lump sum of cash and can afford to lock down the money for 12 months or more, I certainly do recommend placing the money into fixed deposits as compared to the Singapore Savings Bonds. The reason is that for a short term period of 12 months, the interest rate for Singapore Savings Bonds has fell tremendously to 1.56% (Read more: December 2019 Singapore Savings Bonds is 1.71%)

Maybank is a clear winner here with interest rate of 1.88% for a 12 months placement. CIMB Bank is in the second place with their Fast Fixed Deposit Christmas Promotion interest rate of 1.80% p.a.

CIMB Fast Fixed Deposit Christmas Promotion

Interest rate: 1.80%, Minimum Placement: S$10,000, Promotion Valid Until: 30th November 2019

Hong Leong Finance

The total interest that you will receive if you place S$20,000 for 12 months is S$360.

Hong Leong Finance Fixed Deposit

Interest Rate: 1.73%, Minimum Placement: S$20,000, Promotion Valid Until: Not stated

Hong Leong Fixed Deposit Promotion

Hong Leong Finance seems to have increased their interest rate for S$50,000 to less than S$100,000 deposit for a 12 month period from 1.75% to 1.80%.

The total interest that you will receive if you place S$20,000 for 12 months is S$346.

Fixed Deposit (FD) Promotion, EFD Promotion - Hong Leong Bank

Standard Chartered Bank (Singapore) Time Deposit

Interest Rate: 1.60%, Minimum Placement: S$25,000, Promotion Valid Until: 30th Npvember 2019

The total interest that you will receive if you place S$25,000 for 9 months is S$300.

MayBank Singapore Dollar Time Deposit

Interest Rate: 1.88%, Minimum Placement: S$20,000, Promotion Valid Until: Not stated

The total interest that you will receive if you place S$20,000 for 12 months is S$376.00. However, there are some catch should you choose to place your fixed deposit with MayBank

• You need to have a MayBank Current or Savings account.
• For every S$1,000 deposited into the CASA Account, S$10,000 can be placed into the Singapore Dollar Time Deposit, subject to a minimum of S$20,000 in Time Deposit and the corresponding minimum deposit of S$2,000 in the CASA Account.

• New placements and withdrawals made anytime via Hong Leong Connect.
• Account and placement details can be viewed upon successful placement.
• Choice of terms from 1 – 12 months.
• Receive interest at regular intervals, or upon maturity.
• Option for auto renewal.
• Flexibility to make early-partial withdrawals from your FD and still earn FD interest on remaining balance (Partial withdrawal must be in multiples of RM1,000).

Eligibility

• Minimum deposit of RM5,000 for 1 month placement and RM500 for 2 months and above.
• For individuals with Hong Leong Conventional / Islamic Current or Savings Account.
• Malaysian 18 years old and above.

Protected by PIDM up to RM250,000 for each depositor.

Premature Withdrawals (effective 27 September 2018 until 31 December 2018)

Where a e-Fixed Deposit is uplifted, in partial or in full, before maturity the following rules shall apply:

a. No interest is to be paid:

i. any deposits placed for periods of one (1), two (2) or three (3) months that has not run the full period

ii. any other e-Fixed Deposit uplifted before the completion of three (3) months

b. Interest is payable for e-Fixed Deposit uplifted after the completion of three (3) months and will be at half (1/2) the original contracted interest rate for each completed month.

Premature Withdrawals (effective 1 January 2019)

No interest shall be payable on partially withdrawn amounts and premature withdrawals of e-Fixed Deposit.