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.
Protected by PIDM up to RM250,000 for each depositor