Dear readers, Hong Leong Finance is celebrating its 62nd anniversary and in line with the celebration, Hong Leong Finance is having a good promotion on Hong Leong Finance Fixed Deposit for May 23! And this is not to be missed, as explained below!
First of all, Hong Leong Finance Fixed Deposits promotions for May 23 comprise three tenures: 3 months, 5 months and 10 months.
For a 3-month tenure, enjoy:
- 3.05% per annum fixed deposit interest for $20,000 to <$35,000 of deposit
- 3.08% per annum fixed deposit interest for $35,000 to <$50,000 of deposit
- 3.10% per annum fixed deposit interest for $50,000 to <$62,000 of deposit
For a 5-month tenure, enjoy:
- 3.15% per annum fixed deposit interest for $20,000 to <$50,000 of deposit
- 3.35% per annum fixed deposit interest for deposit $50,000 and above
For a 10-month tenure, enjoy:
- 3.10% per annum fixed deposit interest for $20,000 to <$50,000 of deposit
- 3.30% per annum fixed deposit interest for deposit $50,000 and above
The above fixed deposit promotion is until further notice and more details can be found on Hong Leong webpage. I found the current promotion fixed deposit interest comparable with the Apr 23 interest rates.
To be frank, Hong Leong Finance current May 23 fixed deposit interest rates are not the highest. For a 10-month tenure, UOB is offering a higher fixed deposit interest rate at 3.45% per annum and somemore with a lower threshold of capital required at just $10,000 (details here).
The draw of Hong Leong Finance current fixed deposit promotion is with its 3-month tenure which gives a 3.10% per annum for $50,000 to <$62,000 of deposit. RHB bank offers the same rate (3.10% per annum) but for premier banking online placement only (details here).
Or choose the 3-month tenure with the minimum threshold of deposit at $20,000 for Hong Leong Finance current fixed deposit promotions, a 3.05% per annum fixed deposit interest for the aforementioned is attractive.
Whenever it comes to growing one’s monies via fixed deposit, other than high interest rates, I really believe an equally or perhap even more important factor in the tenure. You do not want to be locked up with your fixed deposit at times when you need liquidity or when the liquidity can be deployed for even better opportunities!
One such opportunity will be a possible stock market correction. When the stock market correction happens, you would want cash on hand as cash is King then! Some food for thought for All of you?