Hong Leong Bank Junior FD 24 months “Step Up” FD Promotion – Junior FD rate of up to 3.95% p.a.


Hong Leong Junior Fixed Deposit 24 months “Step Up” FD Promotion – Give Junior FD rate of up to 3.95%
Drawbacks: The promotions is applicable for new funds only; the funds are tied up for quite long (2 years!)

Promotion Period: 6 March- 30 June 2013
Promotional Interest Rate:
First 12 months (1st cycle) : 3.85%
Next 12 months (2nd cycle) : 3.95%
Minimum Deposit : RM1,000
Age Requirement: Children below 18 years of age (to be opened with parent / legal guardian)
Eligibility: Open or have a 3-in-1 Junior Account that comes with Junior Fied Deposit, Junior Savings Account and Junior Debit Card, and make a new placement into the Junior Fixed Deposit Account.
1. Promotion is applicable for new funds only.
2. Promotion Period is from 6 March 2013 to 30 June 2013 or upon reaching RM1 billion fund size, whichever comes first.
3.The FD principal amount from the 1st cycle will be auto-renewed to the 2nd cycle. Upon maturity of the 2nd cyle, the FD principal amount shall be auto-renewed to the prevailing 24 months FD board rate.
4. Partial withdrawal of FD is allowed in multiple of RInggit Malaysia Three Thousand (RM3,000). If the balance in FD Account is less than Ringgit Malaysia Ten Thousand (RM10,000), Customers are required to withdraw i full. No partial withdrawal is permitted.
For the full Terms and Conditions, click here.
Hong Leong latest Junior FD promotion is basically a 24 month, “Step Up” Fixed Deposit Promotion split into two 12-month terms: 3.85% for the first 12 months and 3.95 for the next 12 months. Since this is a “step up” FD promotion it means that the effective rate is probably lower than what has been advertised (they take the highest ‘step’ and put it at the top of the advert!).
Hong Leong Junior FD Promotion1st Cycle (12 months)2nd Cycle (12 months)Total
Interest Rate (p.a)3.85%3.95%3.90%
Interest on RM10,000RM385.00RM410.21RM795.21
After some calculations, as you see from the table, we found that the effective interest rate is actually 3.90% p.a. Although is lower than the advertised rate, but it remains fairly competitive among the other banks in the market, even if your deposit amount is significant.
You need a minimum of RM1,000 (relatively low for a promotional FD rate) to be eligible for this promotion, and this promotion is actually for children below 18 years old and is applicable for new funds only (ie from other banks, although there is a simple way around that if you have existing funds in Hong Leong Bank, just transfer it out and back in again). Besides that, this promotion also comes with a contest (FD Sweet Deals Contest), for every RM1,000 deposit into the Junior FD promotion will get one contest entry and stand a chance to win a Mazda 3 Sport 2.0 Sedan.
Promotion over? Why not check out our Best FD Rates in Malaysia article for more exciting offers and promotions! Alternatively, if you know all about FDs and don’t need the full review, check out our Fixed Deposit Rates Comparison Tool which is the best way to see all the rates in one easy comparison.


Also, subscribe to our newsletter to receive regular updates, reviews and more!


  • Share This Article :
  • Discuss This Article :

Related Stories