Hong Leong Bank adjusts the interest rate of time deposit from July 18!
According to the official website of Hong Leong Bank (Hong Leong Bank), the interest rate for 1-month time deposits is only 1.90%p.a., while the interest rate for 3-month time deposits is 2.00%p.a. and 2.05%p.a. for time deposits of 6 months or more.
If you choose to deposit in an eFD, the rate is even lower, i.e. 1.60% p.a. for 1 month, 1.90% p.a. for 2 months and 2.00% p.a. for 3 months.
Time deposits for senior citizens are 1.90% p.a. for 1 month, 2.00% p.a. for 3 months and 2.05% p.a. for 6 months or more.
It is generally expected that the National Bank will raise the interest rate once again in September or November, and the interest rate for time deposits will definitely be raised again then.
