Foreign Currency Fixed Deposit - With a Foreign Currency Fixed Deposit, customers can earn potentially better returns with our Foreign Currency Fixed Deposit account. Foreign Currency Fixed Deposit (FCFD) Hong Leong Bank Malaysia. Hong Leong Finance fixed deposit board rates. Minimum of S$10,000 to open an account with tenors of 1 or 2 months. Minimum of S$500 for longer tenors. Add on extra 0.125% p.a. If you are 55 years old or above and your placement of fixed deposit is for 12 months or above. To Combat the Covid-19 outbreak, Hong Leong Finance has rolled out Covid-19 Loan Relief Schemes to help customers to tide over difficult time. Our Covid-19 Safeguard measures implemented at our branches to help protect the well-being of our customers and employees. 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. HLB FD Promotion - Grow and save your money with Hong Leong Bank's FD promotion in Malaysia. Check the latest fixed deposit and EFD promotion rates here!
| Promotion Period | Tenure | Rate | Minimum Placement Amount | Maximum Placement Amount |
|---|---|---|---|---|
| 8 January 2021 – 31 March 2021 | 3 months | 2.30% p.a. | RM10,000 | RM2,000,000 |
| 6 months | 2.35% p.a. | |||
| 12 months | 2.30% p.a. |
How to place eFixed Deposit/eFixed Deposit-i on Connect Online Banking?
Not yet a HLB Connect user? Register now.
Terms and conditions apply. The maximum deposit amount per transaction via FPX transfer is RM200,000, subject to such prescribed maximum amount/limit of transfer in the Customers’ individual internet banking maintained with the relevant bank.
Picture shown is for illustration purposes only.
Member of PIDM. Protected by PIDM up to RM250,000 for each depositor.
What can you invest with 500 dollars? For working adults like us, it is not a feat to folk out a minimum of 5K for a fixed deposit placement. If you have a higher risk appetite, you can invest 5K into stocks or bonds.
What about those that just started out working? Their starting monthly salary is usually lower than 5K. In my opinion, setting aside the minimum amount of S$500 is a good way to get started to grow your savings. If you will like to grow your S$500, below are some of the options that I found.
ICBC Fixed Deposit
Needless to explain, fixed deposits are simple to understand. You lock in your cash with the bank for a fixed time period such as 1, 3, 6, 12 months. Upon maturity, you get back your money with the interests earned.
ICBC is one bank or perhaps the only bank that I found that let you do a fixed deposit placement with only a minimum of S$500.
Based on the above rates, if you decided to do a 12 months fixed deposit placement of S$500 via E-Banking, the interests you will receive upon maturity is S$3.75.
Singapore Savings Bonds
The next option to consider is the Singapore Savings Bonds. The minimum amount is S$500 but you have to pay an administrative fee of S$2 every time you make a purchase of the Singapore Savings Bonds.
The latest issue of the Singapore Savings Bonds (GX20120T) offers you an effective return of 0.24% p.a. if you held it for 1 year. That is a return of S$1.20.
Not too bad already, S$1.20 can buy you a cup of Kopi at the coffee shops.
GIGANTIC or Singlife Account
GIGANTIQ is a single premium, yearly renewable, non-participating universal life plan by Etiqa that gives you a guaranteed return of 2.0% per annum on your first S$10,000 for the first year. Any amount above S$10,000 earns you 1.0% per annum for the first year. The minimum amount to get started is S$50. For S$500 deposited with GIGANTIC for 1 year, the return you will receive is S$10.
Similarly, Singlife is a capital guaranteed insurance savings plan that gives up to 2% p.a. returns. The minimum amount to get started is S$500. For S$500 deposited with Singlife for 1 year, the return you will receive is S$10.
Hong Leong Finance Fixed Deposit 2021
Syfe
Hong Leong Finance Fixed Deposit
If you have a higher risk appetite, you can choose to explore Syfe.
Syfe is a digital wealth manager licensed by the Monetary Authority of Singapore (“MAS”) under a Capital Markets Services (“CMS”) License.
There is no minimum amount to start investing in any of their portfolios.
I hope the above provide enough options for those that can only set aside S$500 but do not know where to get started.
“If you don’t find a way to make money while you sleep, you will work until you die. – Warren Buffet”