First in Malaysia to introduce a Truly Flexible FD That Works Hard Everyday To Earn You Higher Interest
Hong Leong Bank (HLB) today officially launched the Hong Leong Flexi FD Account, the first in the market to offer a hybrid Fixed Deposit (FD), Currentand Savings Account product that works hard everyday to earn customers higher interest.
The Hong Leong Flexi FD Account is a 12-month FD designed with highly innovative features to provide customers with monthly interest crediting which isfurther compounded every month in the Hong Leong Flexi One Account to earn even higher interest rate. It also gives customers the flexibility of earlypartial withdrawal with no loss of interest on the remaining FD balance. The accompanying Flexi One Account is automatically opened for the customer whenhe maintains a Flexi FD Account and it comes with the convenience of a cheque book and daily savings interest.
To ensure better and more efficient cash management for the customer, the Flexi FD Account offers an automatic sweeping feature that allows auto transferof funds to and from the Flexi FD Account. Excess funds above RM30,000 in the Flexi One Account will be automatically swept once monthly to the Flexi FD toearn customer high 12-month FD interest rate. This feature allows surplus funds in Flexi One Account to be maximized to earn higher return.
At the same time if a customer issues a cheque and has insufficient funds in the Flexi One Account to pay for the cheque, his funds from the Flexi FDAccount will be drawn and automatically transferred into the Flexi One Account in multiples of RM3,000 to cover the cheque. This will give customer peaceof mind and assurance that his cheques will always be cleared when they are issued from his Flexi One Account so long he has adequate funds in his FlexiFD.
"To maintain our strong foothold in the competitive deposits market, Hong Leong Bank is again bringing value innovation to the marketplace. Customers todayare looking to maximize their hard-earned savings in a trusted bank and the launch of the Hong Leong Flexi FD Account is part and parcel of the bank'sdrive towards offering quality products and services, bearing consumers' best interests in mind. The Hong Leong Flexi FD Account offers an innovative wayof managing FD, current and savings all at the same time," said Ms Moey Tan, HLB's Chief Operating Officer, Personal Financial Services." "The product isalso the first for Hong Leong Bank to allow early partial withdrawal and the flexibility to withdraw at any of HLB's 186 branches nationwide."
This product will appeal to customers who appreciate a banking account that works hard to earn them high interest and also flexible enough to allow themfreedom to perform early partial uplifting of their FD without worry of losing interest on the principal balance. Thus, allowing them to focus on buildingtheir wealth. Also, customers will receive monthly consolidated statements of their Hong Leong Flexi FD & Hong Leong Flexi One Account. To start theaccount, customers only need to deposit RM30,000 at any of Hong Leong Bank branches nationwide. The 12-month FD interest is at the prevailing board rate of2.5% per annum. Product terms and conditions apply.
In conjunction with the launch, exciting gifts await those who open the Hong Leong Flexi FD Account from now until 30 November 2009. The new Hong LeongFlexi FD accountholders can also participate in the Hong Leong Flexi FD contest to win a brand new Nissan X-trail 2.5L, co-sponsored by Edaran Tan ChongMotors Sdn Bhd.
Press Release - 15/09/2009