 We are now on Telegram. Click to join |
Put SGD funds to work with an online fixed deposit offering up to 1.55% p.a.
HL Bank Singapore’s fixed deposit promotion is available for new and existing HL Bank deposit accountholders. A minimum of S$10,000 must be placed through HLB Connect online banking or the mobile banking app. Eligible funds may come from an existing HL Bank iSavings, Savings or Current account, or from funds transferred to HL Bank 💰.
The highest advertised rate is 1.55% p.a. for the six-month tenor. Placement may be completed through HLB Connect, while assistance is also available at any HL Bank Singapore branch. The rates shown below apply to online placements.
HL Bank fixed deposit promotional rates
| Minimum placement amount | Promotional rates (p.a.) | ||
|---|---|---|---|
| 3 months | 6 months | 9 months | |
| S$10,000 (Online) | 1.40% | 1.55% | 1.50% |
The six-month option carries the highest annualised promotional rate, while the nine-month option keeps funds placed for a longer period. Compare both the headline rate and placement duration before selecting a tenor, as a longer placement may generate more total interest even when its annualised rate is slightly lower 📊.
How to place the fixed deposit online
No HL Bank Fixed Deposit Account yet? Start by opening an HL Bank iSavings Account online via Singpass through the official HL Bank account application.
- Ensure sufficient funds are available in an eligible HL Bank account. Where external funding is required, transfer the funds into the HL Bank account using FAST.
- Log in to HLB Connect online banking or the mobile banking app.
- Open Pay & Transact and select New Placement.
- Enter the placement amount and choose the required three-, six- or nine-month tenor, then select Next.
- Check the promotional rate, maturity instructions and placement details before selecting Submit.
- Check the transaction status and save the one-time electronic receipt displayed after successful placement 📱.
PayNow services and online transfers directly to the fixed deposit account are not available. Route the funds into an eligible HL Bank account first, including by FAST where applicable, before creating the fixed deposit placement.
Important checks before locking in funds
- Confirm that the placement is made by a new or existing HL Bank deposit accountholder through HLB Connect, with a minimum placement of S$10,000 🔍.
- Funds may come from an existing HL Bank iSavings, Savings or Current account, or from funds transferred to HL Bank. Fresh funds are not compulsory.
- Choose a three-, six- or nine-month tenor that matches expected cashflow needs, and keep sufficient emergency funds outside the fixed deposit 🗓️.
- Interest is computed daily using a 365-day year, or a 366-day year during a leap year, and is payable only at maturity.
- No interest is payable following premature withdrawal, and partial withdrawal is not allowed ⚠️.
- No physical receipt or transaction advice is issued. Save the one-time electronic receipt and retain the Fixed Deposit Overview shown in HLB Connect as the official placement records 🧾.
- The promotion cannot be combined with other HL Bank promotions unless otherwise specified.
- Without alternative instructions received before maturity, the fixed deposit renews for the same tenor at the prevailing board rate and applicable terms 🔁.
- Eligible Singapore-dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation for up to S$100,000 in aggregate per depositor per Scheme member.
Terms, official information and comparisons
- Read the complete HL Bank fixed deposit promotion terms and conditions here (PDF).
- View additional details on the HL Bank Singapore fixed deposit promotion page.
- Compare more fixed deposit, time deposit and incremental balance offers from Singapore banks here for a wider market overview 📈.
With a competitive six-month headline rate and convenient placement through HLB Connect, this promotion may suit funds that can remain untouched for the selected tenor. Review the withdrawal restrictions and maturity arrangements carefully before completing the placement ✅.
Leave a Reply