The new Upin & Ipin Hong Leong Junior-i Debit Card empowers parents to oversee kids' spending and teach money know-how
KUALA LUMPUR, 8 August 2012 - Hong Leong Islamic Bank ("HLISB") today launched its new Upin & Ipin Hong Leong Junior-i Reloadable Debit Card, a smart and convenient tool that seeks to help parents better guide their children in understanding the importance of saving and personal money management.
"The Hong Leong Junior-i Reloadable Debit Card is an effective and handy tool to teach young ones to be financially savvy - a real concern amongst parents today who worry about their kids' financial future due to lack of money management skills," said Raja Teh Maimunah Raja Abdul Aziz, Chief Executive Officer of HLISB.
"Now with the Hong Leong Junior-i Reloadable Debit Card, our junior accountholders will have the freedom to make financial decisions on what to spend on and when to use the card while parents are able to monitor the card usage online," she elaborated.
The Hong Leong Junior-i Reloadable Debit Card which comes with a Junior Savings-i account and Junior General Investment Account-i, can be used at all VISA and MEPS merchants and also works as an ATM card. Parents will need to hold either a Hong Leong Multi-tier Savings Account-i or Current Account One-i account to transfer balances or reload the card over the counter, ATM or Hong Leong Connect. Additionally, they can also opt for a monthly auto-reload in multiples of RM50.
"We are also facilitating young savers to enjoy the longer term benefits of investments, beyond just savings, via our Hong Leong Junior General Investment Account-i. It's never too early for children to learn the value of investment," added Raja Teh Maimunah.
Investments are made via ad-hoc transfers from the Hong Leong Junior Savings Account-i account or via Standing Instruction whereby an automatic monthly investment is made in multiples of RM1,000. Profits from investments will be accrued daily and credited to the savings account.
Speaking on the partnership with Les Copaque Sdn Bhd, production company behind Upin & Ipin, Raja Teh Maimunah explained that the fun generated by the vast popularity of Upin & Ipin amongst Malaysians made it an ideal choice, as the homegrown series inculcates many important values amongst the young ones similar to what HLISB and the card promotes.
To mark the partnership that saw a special appearance by Upin & Ipin at the launch, Upin & Ipin merchandise including notebooks, wallets, coin boxes and plush toys are offered as Early Bird gifts to accountholders based on the deposit requirements.
Other attractive features of the Hong Leong Junior Savings Account-i account include free 24-hour worldwide Takaful PA coverage with Accidental Death coverage of up to 5 times* of the Junior Account balance and cash incentive award for academic excellence in the UPSR, PMR and SPM examinations.
Meanwhile, in the spirit of the holy month of Ramadhan, HLISB also presented contributions totalling RM34,800 to 3 children's homes - Pertubuhan Kebajikan Anak-Anak Yatim & Miskin, Klang; Positive Shelter Home (Poshe) , Cheras; and Pertubuhan Kebajikan Anak Yatim dan Miskin Baitu Saidati Khadijah, Selangor and Kuala Lumpur . Each home received RM5,000 funded by HLISB's personal financing-i customers via its Tabarru' Fund while some 100 children received RM200 "duit raya" each credited into their very own Hong Leong Junior Savings Account-i account.
For more information on the Upin & Ipin Hong Leong Junior-i Reloadable Debit Card and the Hong Leong Junior Savings Account-i , visit any HLISB or HLB branches nationwide, call 03-7950 1113 or log on to www.hlisb.com.my.
*Terms & conditions apply.-END-Press Release - 8/08/2012