Eligibility

• Citizens and non-citizens residing in Malaysia with permanent address.

Age

• Individual from the age of 14 days and above and does not exceed the age of 60 on the last day of tenure.

Tenure

• Minimum 2 years, maximum 10 years (Amended from the original condition which was 30 years.)

Account Opening Deposit

• Minimum deposit of RM50.00 or according to minimum amount of targeted amount of savings.
  
  For example:
  Choice of tenure: 60 months
  Targeted amount of savings: RM12,000.00
  Minimum amount of deposit: RM200.00/monthly 

Interest Rate

• Up to RM1,000 - 1.00%
• RM1,001 and above – 1.50%

Interest Calculation Method

• Accrued interest based on daily rest and to be credited monthly

Withdrawal

• Withdrawal is not allowed except:
  • Withdrawal of interest
  • Has reached the expiry date of tenure chosen
  • Savings value has reached target
  • Closing of account by account holder
  • Savings plan is cancelled automotically

Others

• Advance rate on savings up to 90% from savings balance after 2 years of tenure.
• Deposit into account by instalment or at least once a month.
• Can open more than one account.
• Changes of desired savings plans can be performed, subject to the following conditions:
  • For savings plan with tenure of less than 5 years, changes of plan can be done twice
  • For savings plan with tenure of more than 5 years, changes can be done up to 4 times but within the period of 5 years, customers are only allowed to change the plan twice.

Assurance Coverage (under Hong Leong Assurance Panel)

• Death (due tol all causes)
• Total permanent disablement ( due to all causes)
• Additional Death Benefit/funeral expenses (Limit RM1000.00)
• Eligible assured members; individual savings accountholder/contributors (assured members)

Coverage Benefits

• Scenario A
  A customer with savings of RM5,000 dies before reaching his targeted savings amount of RM10,000. His target is to save RM10,000.
  The amount insured is RM5,000.

• Scenario B
  A customer is the contributor for another customer who is below 18 years of age (Agro2020 Amanah account). He dies before reaching his targeted savings amount.
  The amount insured is the remaining amount that the customer fails to pay