Hong Leong Investment Bank has raised the interest rate on trading account deposits.
The overnight policy interest rate was raised by the National Bank from 1.75 percent to 2.00 percent. Following the National Bank’s lead, other domestic banks raised interest rates on a variety of financial products and wealth management tools.
Hong Leong Investment Bank has raised the interest rate on its Trading Account deposits. Users will earn more money if they deposit money into an investment trading account.
Users can earn 1.10 percent per year before the rate change and 1.30 percent per year after the rate increased, a 0.20 percent gain.
Of course, depositing money in an investment trading account with the aim of earning interest is inefficient because the interest rate is lower than that of a traditional fixed deposit. This is still appropriate if the user is simply waiting for the stock price to fall or for the right time to acquire a favoured stock, temporarily depositing the money in an investment trading account and earning interest.
Many months ago, Hong Leong eBroking APP, Hong Leong Investment Bank’s online stock trading platform, offered withdrawal and deposit functions. Users may deposit and withdraw money more easily with Hong Leong eBroking.
