HL Bank (Hong Leong) iSavings Account promo

[abcde83]

I'm confused.

so my saving account now is under 1.98% till today.

from 1st May, i can just leave it inside to enjoy about 1.6% if i put 200k?

tbh HL bank promo is damn confusing vs others.

 

[Cumzilla]

I am glad their interest rate is still high, pretty much higher than all the other options, so whether 1K or 5K is the minimum balance is insignificant.

yes, will be leaving my funds inside and transferring some from MB isavvy to this account. Please note the bonus interest awarded for this account is not based on the incremental ADB like MB isavvy or SCB esaver. So i doubt existing account holders will move their funds elsewhere unless they know of another better no frills account in the market at this moment.

https://www.hlbank.com.sg/content/d...l-insurance-Extention-iSavings-Bonus Rate.pdf

 

[Cumzilla]

I'm confused.

so my saving account now is under 1.98% till today.

from 1st May, i can just leave it inside to enjoy about 1.6% if i put 200k?

tbh HL bank promo is damn confusing vs others.

yes if you are an existing isavings account holder, see the link i just posted.

 

[abcde83]

yes if you are an existing isavings account holder, see the link i just posted.

thanks mate

 

[Cumzilla]

thanks mate

actually it was dated from 24 Oct 2019.

scully tml the bank comes with another new set of rates and t&cs.

 

[Guojing88]

yes, will be leaving my funds inside and transferring some from MB isavvy to this account. Please note the bonus interest awarded for this account is not based on the incremental ADB like MB isavvy or SCB esaver. So i doubt existing account holders will move their funds elsewhere unless they know of another better no frills account in the market at this moment.

https://www.hlbank.com.sg/content/d...l-insurance-Extention-iSavings-Bonus Rate.pdf

Yep, I like the fact that they don't require us to do silly musical chairs with the money, unlike esaver and isavvy

 

[slurpy0099]

can someone help to advise if the username is ownself select and how many digits and what kind of alphanumeric?

Also for password, can anyone remember need minimum how many digits and if it is alphanumeric and need special characters?

 

[testingabc]

Yep, I like the fact that they don't require us to do silly musical chairs with the money, unlike esaver and isavvy

I think this is a great option for those with 200K. A pity I don't have so I chose CIMB Fastsaver for 100K and rest with Maybank iSavvy.

 

[abcde83]

Yep, I like the fact that they don't require us to do silly musical chairs with the money, unlike esaver and isavvy

agreed. 10cc

 

[satayxp]

come in see see look look

 

[satayxp]

wtf the open account process so kum lan one.. now got this msg...

"Invalid details entered. You will need to request for a Temporary ID to reset your HL Bank Connect account. Please visit HL Bank or mail to us the eConnect form to request for a Temporary ID. (2025)"

wtf...

 

[Panerex]

Any idea if HL will auto send us the physical bank token?

Or do I need to request for it?

Without which, I cannot add a new payee.

 

[Panerex]

Received my token. But still waiting for temp id. They should have send both together. Transfer some funds over as well following the letter account number although cannot log in to verify now.

Can I know how Long to wait to receive token after online account opening?

 

[yiron]

Ended up keeping my funds with HL bank

1.5975% on first $200k, and 1.48% for next $800k is probably one of the best for a no frills savings account, as compared to Maybank iSavvy 1.3% and SCB eSaver 1.25%.
Just have to put up with their rather backward ibanking interface and $50k FAST limit.

Hope HLB don't drop further after Jun.

 

[saintgtril]

Haha... okay Torenoo. The obvious option is one may leave the minimum sum (5K) after 30/6/2020 to avoid the fall below fees. But by doing so, incur opportunity cost ya. Hopefully there is a way out.

yes, will be leaving my funds inside and transferring some from MB isavvy to this account. Please note the bonus interest awarded for this account is not based on the incremental ADB like MB isavvy or SCB esaver. So i doubt existing account holders will move their funds elsewhere unless they know of another better no frills account in the market at this moment.

https://www.hlbank.com.sg/content/d...l-insurance-Extention-iSavings-Bonus Rate.pdf

one step at a time bro.. no one can give you any answer on this qn , we can only see what is avaliable then and then decide

Hi khenwooi/happiee and all, because this 1.5975% is only until 30/6/2020, what is the strategy from 1/7/2020 onward?

 

[saintgtril]

Ended up keeping my funds with HL bank

1.5975% on first $200k, and 1.48% for next $800k is probably one of the best for a no frills savings account, as compared to Maybank iSavvy 1.3% and SCB eSaver 1.25%.
Just have to put up with their rather backward ibanking interface and $50k FAST limit.

Hope HLB don't drop further after Jun.

Hi yiron, are you one of the first wave customer? It seems like probably after 30/6/2020, you can still place your war chest with them for (after 30/6/2020 interest)?

 

[Han Shot First]

On the webpage for 1.98% p.a. promotional rate for 1 February 2020 to 30 April 2020, the HL Bank Pricing Schedule states "Minimum Balance Fee S$10 per month if average monthly balance is below S$1,000".
See:
https://www.hlbank.com.sg/content/d...ndCharges/standard-fees-and-charges_fixed.pdf

However, another HL Bank Pricing Guide states "Minimum Balance Fee S$5 per month if average monthly balance is below S$5,000" for "iSAVINGS ACCOUNT (SGD) – With Effective from 13/2/17".
See:
https://www.hlbank.com.sg/content/d...omotions/iSavings/pricing_schedule-080217.pdf

So to avoid paying Minimum Balance Fee, what is the Minimum Average Monthly Balance one needs to maintain in the promotional iSavings account from 1 May 2020 onwards, S$1,000 or S$5,000?

 

[Cumzilla]

On the webpage for 1.98% p.a. promotional rate for 1 February 2020 to 30 April 2020, the HL Bank Pricing Schedule states "Minimum Balance Fee S$10 per month if average monthly balance is below S$1,000".
See:
https://www.hlbank.com.sg/content/d...ndCharges/standard-fees-and-charges_fixed.pdf

However, another HL Bank Pricing Guide states "Minimum Balance Fee S$5 per month if average monthly balance is below S$5,000" for "iSAVINGS ACCOUNT (SGD) – With Effective from 13/2/17".
See:
https://www.hlbank.com.sg/content/d...omotions/iSavings/pricing_schedule-080217.pdf

So to avoid paying Minimum Balance Fee, what is the Minimum Average Monthly Balance one needs to maintain in the promotional iSavings account from 1 May 2020 onwards, S$1,000 or S$5,000?

please read page 5, some bros had called up to check and shared over here. Worse come to worst, just maintain min 5k inside for 6 months and then close after that. But if really concern on the opportunity cost for that additional 4 months in case the rates after june sucks big time, then it is better dont open this account.

 

[Cumzilla]

I think this is a great option for those with 200K. A pity I don't have so I chose CIMB Fastsaver for 100K and rest with Maybank iSavvy.

For 100k in CIMB Fastsaver, your interest is 1.325% and for HL Bank Isavings, 100K gives you 1.485% until June.

 

[wutawa]

Haha... okay Torenoo. The obvious option is one may leave the minimum sum (5K) after 30/6/2020 to avoid the fall below fees. But by doing so, incur opportunity cost ya. Hopefully there is a way out.

I tink u can apply for fall below fee waiver.