Revision of Terms and Conditions for Fixed Deposit Accounts

General Terms & Conditions (Part D – Conventional Fixed Deposit Account)

With effect from 12 June 2021 ("Effective Date"), there shall be no interim crediting of interests on a monthly or six-monthly basis ("New Rule").

• For all new Fixed Deposit(s), interest will be:

(a)   credited into the Current or Savings Account under the same name and signature requirement as the Fixed Deposit Account only upon maturity of Fixed Deposit; or

(b)   added to the Fixed Deposit principal sum at maturity,

as selected by the Customer upon placement of the Fixed Deposit.

• For Fixed Deposit(s) opened prior to Effective Date, interest earned will continue to be credited into the Current or Savings Account on a monthly or six-monthly basis until the end of the Fixed Deposit tenure.** Should the Fixed Deposit be renewed, whether manually or on an auto-renewal basis upon maturity, the New Rule shall apply.

(** In the event the Fixed Deposit is fully withdrawn on or before its respective maturity period or the minimum tenure as HLB may determine at any time with twenty-one (21) calendar days’ prior notice, HLB shall be entitled to deduct from or debit the Customer’s Fixed Deposit Account all such monthly or six-monthly interest paid including but not limited to all interests paid on partial withdrawals earlier.)

Illustration: 

A Fixed Deposit entered into before Effective Date for a 12-month tenure maturing on 31 August 2021 will enjoy interest crediting on a monthly basis. Upon maturity, the said Fixed Deposit is renewed for another 12 months. Interests for this renewed Fixed Deposit will only be paid at the end of the 12-month tenure on 31 August 2022.

General Terms & Conditions (Part I – HLISB General Investment Account-i)

With effect from 12 June 2021 ("Effective Date"), there shall be no interim crediting of profits on a monthly or six-monthly basis ("New Rule").

• For all new General Investment Account-i, profit will be:

(a)   credited into the Current or Savings Account-i under the same name and signature requirement as the General Investment Account-i only upon maturity of General Investment Account-i; or

(b)   added to the General Investment Account-i principal sum at maturity,

as selected by the Customer upon placement of the General Investment Account-i.

• For General Investment Account-i opened prior to Effective Date, profit earned will be credited into the Current or Savings Account-i on a monthly or six-monthly basis until the end of the General Investment Account-i tenure.** Should the General Investment Account-i be renewed, whether manually or on an auto-renewal basis upon maturity, the New Rule shall apply.

(** In the event the General Investment Account-i is fully withdrawn on or before its respective maturity period or the minimum tenure as HLISB may determine at any time with twenty-one (21) calendar days’ prior notice, HLISB shall be entitled to deduct from or debit the Customer’s General Investment Account-i all such monthly or six-monthly profit paid including but not limited to all profits paid on partial withdrawals earlier.)

Illustration:

A General Investment Account-i entered into before Effective Date for a 12-month tenure maturing on 31 August 2021 will enjoy profit crediting on a monthly basis. Upon maturity, the said General Investment Account-i is renewed for another 12 months. Profits for this renewed General Investment Account-i will only be paid at the end of the 12-month tenure on 31 August 2022.

e-FD Account Terms & Conditions (Interest Section)

With effect from 12 June 2021 ("Effective Date"), there shall be no interim crediting of interests on a monthly or six-monthly basis ("New Rule"):

• For all new eFD, interest will be:

(a)   credited into the Source CASA and/or Designated CASA only upon maturity of Fixed Deposit; or

(b)   added to the Fixed Deposit principal sum at maturity,

as selected by the Customer upon placement of the eFD

• For eFD opened prior to Effective Date, interest earned will be credited into the Source CASA and/or Designated CASA on a monthly or six-monthly basis until the end of the eFD tenure.** Should the eFD be renewed, whether manually or on an auto-renewal basis upon maturity, the New Rule shall apply.

(** In the event the eFD is fully withdrawn on or before its respective maturity period or the minimum tenure as HLB may determine at any time with twenty-one (21) calendar days’ prior notice, HLB shall be entitled to deduct from or debit the Customer’s eFD Account all such accrued monthly or six-monthly interest paid including but not limited to all interests paid on partial withdrawals earlier.)

    Illustration:

An eFD entered into before Effective Date for a 12-month tenure maturing on 31 August 2021 will enjoy interest crediting on a monthly basis. Upon maturity, the said eFD is renewed for another 12 months. Interests for this renewed eFD will only be paid at the end of the 12-month tenure on 31 August 2022.

Flexi FD Account Terms & Conditions (Clause 5: Operation of Flexi FD Account)

With effect from 12 June 2021 ("Effective Date"), there shall be no interim crediting of interests on a monthly basis ("New Rule"):

• For all new Flexi FD, accrued interest will be credited into the Customer's Flexi One Account only upon maturity of Flexi FD.
• For Flexi FD opened prior to Effective Date, interest earned will be credited into the Customer's Flexi One Account on a monthly basis until the end of the Flexi FD tenure.** Should the Flexi FD be renewed, whether manually or on an auto-renewal basis upon maturity, the New Rule shall apply.

(** In the event the entire Flexi FD or balance thereof placed hereunder is fully withdrawn on or before its respective maturity period or the minimum tenure as HLB may determine at any time with twenty-one (21) calendar days’ prior notice, HLB shall be entitled to deduct from or debit the Customer’s Flexi FD Account all such accrued monthly interest paid including but not limited to all interests paid on partial withdrawals earlier.)

Illustration: 

A Flexi FD entered into before Effective Date for a 12-month tenure maturing on 31 August 2021 will enjoy interest crediting on a monthly basis. Upon maturity, the said Flexi FD is renewed for another 12 months. Interests for this renewed Flexi FD will only be paid at the end of the 12-month tenure on 31 August 2022.

Business Flexi FD Account Terms & Conditions (Clause 6(D): Interest Payment)

With effect from 12 June 2021 ("Effective Date"), there shall be no interim crediting of interests on a monthly basis ("New Rule"):

• For all new Business Flexi FD, interest will be credited into the Customer's Current Account only upon maturity of Business Flexi FD.
• For Business Flexi FD opened prior to Effective Date, interest earned will be credited into the Customer's Current Account on a thirty (30) days basis until the end of the Business Flexi FD tenure.** Should the Business Flexi FD be renewed, whether manually or on an auto-renewal basis upon maturity, the New Rule shall apply.

(**In such a case, should there subsequently be a PPW or full premature withdrawal, an amount equivalent to the interest already paid shall be deducted from the Business Flexi FD principal amount before the balance is released to the Customer. The Customer has the option to request in writing for the interest to be paid only upon maturity provided that such request is made upon placement of the Business Flexi FD.)

Illustration: 

A Business Flexi FD entered into before Effective Date for a three hundred and sixty-six (366) days tenure maturing on 31 August 2021 will enjoy interest crediting on a thirty (30) days basis. Upon maturity, the said Business Flexi FD is renewed for another three hundred and sixty-six (366) days. Interests for this renewed Business Flexi FD will only be paid at the end of the three hundred and sixty-six (366) days tenure.

Terms and Conditions for Hong Leong Fixed Deposit-i (HLFD-i)

(Clause 2: Hong Leong Fixed Deposit-i (“HLFD-i”) Accounts

With effect from 12 June 2021 ("Effective Date"), there shall be no interim crediting of profits on a monthly or six-monthly basis ("New Rule"):

• For all new Fixed Deposit-i, profit will be:

(c)   credited into the Current or Savings Account-i under the same name and signature requirement as the Fixed Deposit-i only upon maturity of Fixed Deposit-i; or

(d)   added to the Fixed Deposit-i principal sum at maturity,

as selected by the Customer upon placement of the Fixed Deposit-i.

• For Fixed Deposit-i opened prior to Effective Date, profit earned will be credited into the Current or Savings Account-i on a monthly or six-monthly basis until the end of the Fixed Deposit-i tenure.** Should the Fixed Deposit-i be renewed, whether manually or on an auto-renewal basis upon maturity, the New Rule shall apply.

(** In the event the Fixed Deposit-i is fully withdrawn on or before its respective maturity period or the minimum tenure as HLISB may determine at any time with twenty-one (21) calendar days’ prior notice, HLISB shall be entitled to deduct from or debit the Customer’s Fixed Deposit-i all such monthly or six-monthly profit paid including but not limited to all profits paid on partial withdrawals earlier.)

Illustration:

A Fixed Deposit-i entered into before Effective Date for a 12-month tenure maturing on 31 August 2021 will enjoy profit crediting on a monthly basis. Upon maturity, the said Fixed Deposit-i is renewed for another 12 months. Profits for this renewed Fixed Deposit-i will only be paid at the end of the 12-month tenure on 31 August 2022.

Terms and Conditions for Hong Leong Fixed Deposit-i (HLFD-i)

(Clause 3.9: Exceptions for Online Fixed Deposit-i (eFD-i) accounts via Hong Leong Connect

With effect from 12 June 2021 ("Effective Date"), there shall be no interim crediting of profit on a monthly or six-monthly basis ("New Rule").

• For all new eFD-i, profit will be:

(a)   credited into the Source CASA-i and/or Designated CASA-i only upon maturity of eFD-i; or

(b)   added to the eFD-i principal sum at maturity,

as selected by the Customer upon placement of the eFD-i.

• For eFD-i opened prior to Effective Date, profit earned will be credited into the Source CASA-i and/or Designated CASA-i on a monthly or six-monthly basis until the end of the eFD-i tenure.** Should the eFD-i be renewed, whether manually or on an auto-renewal basis upon maturity, the New Rule shall apply.

(** In the event the eFD-i is fully withdrawn on or before its respective maturity period or the minimum tenure as HLISB may determine at any time with twenty-one (21) calendar days’ prior notice, HLISB shall be entitled to deduct from or debit the Customer’s eFD-i all such monthly or six-monthly profit paid including but not limited to all profits paid on partial withdrawals earlier.)

Illustration:

An eFD-i entered into before Effective Date for a 12-month tenure maturing on 31 August 2021 will enjoy profit crediting on a monthly basis. Upon maturity, the said eFD-i is renewed for another 12 months. Profit for this renewed eFD-i will only be paid at the end of the 12-month tenure on 31 August 2022.

3-in-1 Junior Account Terms & Conditions (Clause 3.2: Junior Fixed Deposit Account)

With effect from 12 June 2021 ("Effective Date"), there shall be no interim crediting of interests on a monthly basis ("New Rule"):

• For all new JFD, interest will be credited into the JSA only upon maturity of JFD.
• For JFD opened prior to Effective Date, interest earned will be credited into the JSA on a monthly basis until the end of the JFD tenure.** Should the JFD be renewed, whether manually or on an auto-renewal basis upon maturity, the New Rule shall apply.

(** In the event the entire JFD is fully withdrawn on or before its respective maturity period or the minimum tenure as HLB may determine at any time with twenty-one (21) calendar days’ prior notice, HLB shall be entitled to deduct from or debit the Customer’s JFD Account all such monthly interest paid including but not limited to all interests paid on partial withdrawals earlier.)

Illustration: 

A JFD entered into before Effective Date for a 12-month tenure maturing on 31 August 2021 will enjoy interest crediting on a monthly basis. Upon maturity, the said JFD is renewed for another 12 months. Interests for this renewed JFD will only be paid at the end of the 12-month tenure on 31 August 2022.

3-in-1 Junior Account-i

Terms & Conditions (Clause 3: The Accounts in the 3-in-1 JA-i)

With effect from 12 June 2021 ("Effective Date"), there shall be no interim crediting of profits on a monthly basis ("New Rule"):

• For all new JFD-i, profit will be credited into the JSA-i only upon maturity of JFD-i.
• For JFD-i opened prior to Effective Date, profits earned will be credited into the JSA-i on a monthly basis until the end of the JFD-i tenure. Should the JFD-i be renewed, whether manually or on an auto-renewal basis upon maturity, the New Rule shall apply.

(** In the event the entire JFD-i is fully withdrawn on or before its respective maturity period or the minimum tenure as HLISB may determine at any time with twenty-one (21) calendar days’ prior notice, HLISB shall be entitled to deduct from or debit the Customer’s JFD-i Account all such monthly profit paid including but not limited to all profits paid on partial withdrawals earlier.)

Illustration: 

A JFD-i entered into before Effective Date for a 12-month tenure maturing on 31 August 2021 will enjoy profit crediting on a monthly basis. Upon maturity, the said JFD-i is renewed for another 12 months. Profits for this renewed JFD-i will only be paid at the end of the 12-month tenure on 31 August 2022.

Fixed Deposit/Fixed Deposit-i Promotions Terms & Conditions

• With effect from 12 June 2021("Effective Date"), interest/profit earned for the Participating FD/FD-i Accounts shall be credited into the Entitled Customers’ Nominated CASA/CASA-i at maturity.
• Upon maturity, the principal FD/FD-i Placement Amount shall be auto-renewed at the prevailing FD/FD-i board rates respectively and the interest/profit earned will be credited into the Entitled Customers’ Nominated CASA/CASA-i upon maturity.