-
Junior Savings Account-i
-
Junior Fixed Deposit-i
-
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.
Protected by PIDM up to RM250,000 for each depositor.
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 Purchase Price from a supplier and thereafter, sell the Commodity to HLISB at Selling Price on the basis of Murabahah (sale with disclosed cost and mark-up) which shall be paid to the Customer(s) at the end of the Tenure (after taking into consideration any rebates, if any). HLISB shall thereafter sell the Commodity to a third party on cash basis. Apart from that, Tawarruq can happen in the form of Musawamah whereby the Customer(s) sell the Commodity to HLISB on the basis of Musawamah. “Musawamah” means a sale contract without the disclosure of the asset cost price and profit margin to the purchaser.
Important notice
Please click HERE for the exhaustive list of fees and charges.
