Conversion of MACH Money Box Deposit Account and MACH Fixed Deposit Account
IMPORTANT NOTICE
Conversion of MACH Money Box Deposit Account and MACH Fixed Deposit Account
Dear Valued Customers,
Effective 1 July 2020, all existing MACH Money Box Deposit Account customers will be converted to the Pay&Save Account and customers with an existing Pay&Save Account will be converted to the Current Account.
All MACH Fixed Deposit Account customers will be converted to the Conventional Receiptless Fixed Deposit.
Refer to the following for the Pay&Save Account Features:
Pay&Save Account Features |
Mechanism & Interest* |
|
|---|---|---|
Savings Interest |
Mechanism |
Bonus Interest p.a. |
| Place RM2,000 single deposit for 3 consecutive months |
1.50% |
|
| Interest is calculated daily and credited quarterly |
||
| Debit Card Bonus Interest | Mechanism |
Bonus Interest p.a. |
Spend RM500 cumulative monthly |
0.50% |
|
| Interest is calculated monthly based on Monthly Average Balance and credited on the 1st of the following month |
||
e-Xtra Interest |
Mechanism |
Bonus Interest p.a. |
Spend RM500 cumulative monthly |
0.50% |
|
| Interest is calculated monthly based on Monthly Average Balance and credited on the 1st of the following month |
||
*Should there be an Overnight Policy Rate (OPR) change, the Interest Rates may be revised.
For MACH Fixed Deposits Account Customers, all conversions will take place upon maturity of the MACH Fixed Deposit placement and will rollover to Conventional Receiptless Fixed Deposit with normal board rates of that tenure.
Conventional Fixed Deposit |
Mechanism & Interest |
|
|---|---|---|
Partial Withdrawal |
Partial withdrawal is permissible with a minimum withdrawal of RM1,000 or in multiples of RM1,000. The remaining balance in the FD account shall continue to earn interest based on the contracted FD interest rate calculated on the remaining balance in the FD until maturity date. |
|
| Online Withdrawal | Partial and full withdrawal of receipt-less FD can be performed via Hong Leong Connect for Individuals with single name who have registered for Hong Leong Connect. |
|
Interest |
Tenure |
Interest Rate (p.a.) |
1 month |
1.75% |
|
2 months |
1.75% |
|
3 months |
1.80% |
|
4 months |
1.80% |
|
5 months |
1.80% |
|
6 months |
1.85% |
|
7 months |
1.85% |
|
8 months |
1.85% |
|
9 months |
1.85% |
|
10 months |
1.85% |
|
11 months |
1.85% |
|
12 months |
1.85% |
|
13 – 60 months |
1.85% |
|
| Should there be an Overnight Policy Rate (OPR) change, the Interest rates may be revised. | ||
For more details, please refer to the Terms and Conditions for Pay&Save and Conventional Receiptless Fixed Deposit at our website at www.hlb.com.my.
Kindly be informed. Thank you.
