Hong Leong Bank ("HLB") today introduced its Hong Leong Pay&Save Account , the first and only savings account in the market that rewards customers up to 3.1% interest per annum on their account balance for making e-Payments via online.

Bank Negara Malaysia ("BNM") in December 2011, launchedits Financial Sector Blueprint with a key objective of increasing e-payment usage from 44 transactions per capita in 2010 to 200 transactions by 2020."In support of the BNM's e-initiative, Hong Leong Bank has designed a savings account that rewards customers with fixed deposit interest simply for making e-payments for their bills through this account or debit card," said Moey Tan, HLB's Chief Operating Officer, Personal Financial Services.

"This Hong Leong Pay&Save Account is relevant as each household will surely have utilities, telephone, insurance, housing or car loans and credit card bills, etc to pay. Besides, customers get to enjoy hassle free banking convenience at their finger tips either through online GIRO or standing instruction," she added.

The Hong Leong Pay&Save Account is eligible to customers aged 18 years and above. The minimum requirement for opening an account is RM200. It combines the benefit of a savings and current account with value added feature to earn extra interest on the account balance. The more e-payments transacted, the higher the interest earned. In comparison with a basic savings account, the interest payable is around 1% interest per annum whereas Hong Leong Pay&Save Account provides up to 3.1% interest per annum.

Meanwhile, in conjunction with the launch, customers have the opportunity to win 8 Grand Prizes of a Panasonic 42-inch LED TV when they open a Hong Leong Pay&Save Account with a minimum deposit of RM1,000.

The first 100 customers who deposit a minimum of RM60,000 will receive a Kenwood Designer Coffee Maker. The promotion period is from 11 October 2012 to 31 March 2013. Product terms and conditions apply.

For more information on the Hong Leong Pay&Save Account , visit any Hong Leong Bank or Hong Leong Islamic Bank branches nationwide, call 1-800-38-8888 or log on to www.hlb.com.my.

-END-Press Release - 11/10/2012