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Junior Savings Account-i
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Junior Fixed Deposit-i
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Junior Debit Card-i
Junior Savings Account-i
- Profit calculated daily, credited monthly.
- Academic excellence rewards for straight-As achievers.
- Minimum deposit RM1.00.
Junior Debit Card-i (Reloadable prepaid card)
- Withdraw cash from over 1 million ATMs, locally and overseas.
- Widely accepted at over 29 million merchants worldwide (safer than carrying cash).
- Enrol for auto-reload. The card will be topped up in multiples of RM50 (max RM500 per month) when the balance falls below RM50. Alternatively, reload any amount at any of our branches.
- Top up mobile phone credit at any HLB/HLISB ATM.
- View your child’s transaction online.
Junior Fixed Deposit-i
- High profit rates.
- Minimum placement of RM1,000.
- Earn higher profit: Transfer multiples of RM1,000 (max RM5,000) from Junior Savings Account-i to Junior Fixed Deposit-i by standing instruction.
- Profit calculated daily, paid monthly into Junior Savings Account-i.
Minimum 2 account holders: one must be “Beneficiary” status, and below 18 years of age.
The trustee(s) must be the junior’s parent(s) or legally-appointed guardian(s). Legal guardian(s) should be the person who has been assigned to take care of Junior, in a court of law, and must have the legal documentation as proof.
The parent(s) or legal guardian(s) will remain as primary account holder and will conduct all transactions on behalf of the Beneficiary (Junior).
The Hong Leong Junior Savings-i is a capital-guaranteed deposit account that gives you a fixed return, and adopts the Shariah principle of *Tawarruq. This account is linked to Junior Fixed Deposit-i (JFD-i) and comes with a Junior Reloadable Debit Card-i (JDC-i) that helps parents monitor their children’s spending, and educate them on financial management too.
*Tawarruq refers to an arrangement which consists of multiple sale and purchase transactions. With this product, the Customer(s) will purchase the Commodity at the Purchase Price (an amount equivalent to the customer’s Net Deposit) from a supplier and thereafter, sell the Commodity to HLISB at the Selling Price (which comprises the Purchase Price and the profit) on the basis of Murabahah which shall be paid to the Customer(s) at the end of the tenure (after taking into consideration rebates, if any). HLISB shall thereafter sell the Commodity to a third party on a cash basis.
Eligible deposit insured by PIDM
| Description/Services |
Charges/Fees |
GST(6%) |
Charges/Fees (incl of GST) |
|---|---|---|---|
Dishonoured Cheque (Inward Return) (for postdated reason only) |
RM10.00 |
RM0.60 |
RM10.60 |
| Lost Savings Passbook | RM10.00 per passbook |
RM10.00 per passbook |
|
| RM10.00 for Letter of Indemnity |
RM10.00 for Letter of Indemnity |
||
| Close Account | |||
i. Basic Savings Account-i
ii. Other Savings Account-i |
RM20.00 (within 3 months of opening)
RM20.00 (within 6 months of opening) |
RM20.00 (within 3 months of opening)
RM20.00 (within 6 months of opening) |
|
| Changes to Account | |||
i. Change of operating mandate (For Tawarruq based concept, applicable only for nomination exceeding the number of mandate allowed)
ii. Addition of joint account holders (not applicable for Tawarruq based concept) |
RM10.00 per account
RM10.00 per account |
RM0.60
RM0.60 |
RM10.60 per account
RM10.60 per account |
| SMS Notification (not applicable for Tawarruq-based concept) | |||
i. Individual account |
RM5.00 monthly RM10.00 monthly |
RM0.30 RM0.60 |
RM5.30 monthly RM10.60 monthly |
| Dormant Savings Account-i | |||
i. Balance of RM10.00 and below
ii. Balance above RM10.00 |
Account closed, balance absorbed as service charge
RM9.43 yearly |
N/A
RM0.57 |
Account closed, balance absorbed as service charge
RM10.00 yearly |
Basic Savings Account-i
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Over-the-counter (OTC) Visits (per month)
i. First 6 OTC visits
ii. From the 7th OTC onwards |
No charge
Waived until further notice |
N/A |
No charge
Waived until further notice |
| Basic Savings Account-I (Annual Fee) | |||
(applicable for Tawarruq based concept) |
RM8.00 yearly (To be imposed only on customers who have opted for unlimited ATM withdrawals and OTC transactions). |
RM0.48 |
RM8.48 yearly (To be imposed only on customers who have opted for unlimited ATM withdrawals and OTC transactions). |
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