junior_fd_account_tc1

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posted:: 11/7/2011
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HONG LEONG JUNIOR ACCOUNT TERMS AND CONDITIONS (UPDATED 15/2/2011)

These terms and conditions are to be read together as a whole with the General Terms and
Conditions of Accounts for Deposits and Islamic Banking Deposits, and any other relevant terms
and conditions as Hong Leong Bank Berhad (“HLB”) may impose from time to time, as well as
other rules and regulations binding on HLB.

(1.0) Definitions & Interpretations
“ABM” means the Association of Banks in Malaysia.
“Domicile Branch” means the branch in which the Hong Leong Junior Account is
opened.
“HLB” means Hong Leong Bank Berhad and includes its branches and successors-in-
title and assigns.
“Hong Leong Junior Fixed Deposit” or “JFD” means the “Adult for Child fixed deposit
account” for individuals aged 18 years below maintained with HLB .
“Hong Leong Junior Account” comprises of two accounts, namely Hong Leong Junior
Fixed Deposit and Hong Leong Junior Savings Account.
“Hong Leong Junior Savings Account” or “JSA” means the junior savings accounts
opened with HLB from 1st August 2010 onwards.
“Prepaid Account” means a virtual account linked to Junior Debit Card.
“External Accountholder” refers to a person who is the holder of the Ringgit account
maintained with a financial institution in accordance with the provisions of Exchange
Control of Malaysia Notice.

(2.0) Hong Leong Junior Account
2.1) The JSA and JFD are Adult- for- child accounts where the parents / legal guardian
are the adult in an adult –for-child/minor” accounts while the child is the beneficiary
(“Beneficiary”). There is only one (1) Beneficiary per such account.
2.2) The Beneficiary must be individual aged below 18 years old.
2.3) The application for such account must be made by “the adult in an adult-for-
child/minor”.
2.4) The HL Junior Account consists of the JSA and the JFD as a pair account. This
Junior Account will be opened at the same time and the adult in an adult –for-
child/minor” can have the option of having the JFD account with zero balance.
2.5) The adult shall be the sole authority over the JSA
2.6) JFD account is operated by the adult in an adult –for-child/minor

(3.0) Hong Leong Junior Savings Account (“JSA” )
3.1) The application of the JSA must be made by the parent(s) or legal guardian of the
child
3.2) RM1.00 is required to open a JSA.
3.3) Interest in JSA will be calculated and accrued daily based on each day’s end day
balance and will be credited on the last day of each month into the JSA.
3.4) In the event of account closure, the interest will be credited on the day the account is
closed and pro-rated based on the number of days the account remained active.

(4.0) Prepaid Account

4.1) Every JSA account created will be bundled with a ‘prepaid Account”
4.2) Prepaid Account will be tagged to Junior Debit Card.
4.3) No interest earned for balance maintain in a Prepaid Account.
4.4) Balance in the Prepaid Account can be topped up via Auto Reload or/and Manual
Reload
(5.0) Hong Leong Junior Fixed Deposit (“JFD”)
5.1) The initial deposit required for account opening of JFD is RM1,000.00
5.2) Fixed deposit placement for JFD is only available for tenures of 12, 24, 36, 48 or 60
months. HLB reserves the absolute discretion to vary the rates and tenures at
anytime or from time to time.
5.3) Fixed deposit placement in JFD can only be performed over-the-counter at the
domicile Branch or via standing instruction from JSA.
5.4) Subject to item 5.3 above, all interest earned for fixed deposit in JFD shall be credited
into the JSA on monthly basis.
5.5) There will not be any FD receipt issued for JFD. The adult in an adult –for-child/minor
will receive a quarterly statement generated in March, June, September and
December of the calendar year and sent to the adult in an adult –for-child/minor on
the subsequent month.
5.6) All transactions and activity of JFD will be reflected in the JFD quarterly statement.

(6.0) Placement of JFD - Standing Instruction
6.1) Only “the adult in an adult-for-child/minor” of JSA can perform a fixed deposit
placement from JSA via standing instruction.
6.2) “The adult in an adult-for-child/minor” of JSA must specify the placement date for
fixed deposit placement from JSA to JFD with the minimum placement of RM1,000 or
in multiples of RM1,000 up to a maximum of RM5,000 only per month.
6.3) Standing instruction must be made only at the Domicile Branch.
6.4) To enable a fixed deposit placement from JSA via standing instruction, a minimum
balance of RM1,000 must be maintained in JSA after such fixed deposit placement
otherwise the standing instruction will not be effected.
6.5) Standing instruction for placement of fixed deposit must be from JSA to JFD and
placement is allowed once a month only and such standing instruction for fixed
deposit placement can be made for tenure of 12, 24, 36, 48 or 60 months or any
other tenure specified by HLB from time to time.

6.6) Placement of fixed deposit via standing instruction from JSA will be reflected in the
FD quarterly statement.

(7.0) Partial Withdrawal of Fixed Deposit from JFD
7.1) “The adult in an adult-for-child/minor” can perform early partial withdrawal of fixed
deposit from JFD.
7.2) Early partial withdrawal of fixed deposit from JFD can be performed at any branch i.e.
at the Domicile Branch or non Domicile Branch.
7.3) “The adult in an adult-for-child/minor” has an option to transfer the withdrawn funds
to any HLB current Or savings account or perform cash withdrawal.
7.4) Early partial withdrawals of fixed deposit from JFD are permissible with a minimum
withdrawal of RM3,000 or in multiples of RM3,000 or any other amount to be
determined by HLB at any time or from time to time. In the event if the fixed deposit is
less than RM3,000, then such fixed deposit may be withdrawn in total.
7.5) For any premature withdrawal, the withdrawn amount will be subject to ABM rules.
7.6) No interest will be paid on JFD uplifted before the completion of a minimum tenure of
3 months. For fixed deposit that has been placed and completed a minimum tenure
of 3 months, half of the contracted interest rate will be paid on the withdrawn amount.
The paid interest will be deducted from the principal amount of such fixed deposit.
7.7) The remaining balance sum of the deposit will continue to earn the contracted fixed
deposit rate.
(8.0) Conversion of JSA and JFD Once Beneficiary Turns 18 Years Old
8.1) When the Beneficiary reaches 18 years old, all benefits extended under the JSA will
be revoked effectively on the following month after the beneficiary attains the age of
18. The JSA will automatically be converted into a normal savings account (joint
account)
8.2) The account number of the JSA will be retained and applied to the said normal
savings Account (joint account)
8.3) Savings Account (joint account) is an savings account in the name of “The adult in
an adult-for-child/minor” governed by the General Terms and Conditions of Accounts
for Deposits and Islamic Banking Deposits in respect of savings account (for adults)
8.3) The JFD will not be auto-renewed once the Beneficiary attains the age of 18. For fixed
deposits that have yet to reach its maturity, the interest will be credited monthly into
the said normal savings account (joint account) and principal sum will be credited to
the normal savings account(joint account) upon its maturity.
8.4) Written notification will be given by HLB to the “the adult in an adult-for-child/minor”at
the material time on the conversion of JSA to a normal savings account(joint
account)

(9.0) Optional Junior Saver’s Protection Plan

9.1) The Junior Saver’s Protection Plan is underwritten by Hong Leong Assurance Berhad
(HLA)
9.2) The plan is optional to “the adult in an adult-for-child/minor”. “the adult in an adult-for-
child/minor” must read and understand the Junior Saver’s Protection Plan Product
Fact Sheet before signing up the Junior Saver’s Protection Plan.
9.3) Monthly premium is RM33.00 per policy and is subject to revision by HLA at anytime
and from time to time. Monthly premium is debited from the JSA. 4 months’ advance
premium shall be deducted from the JSA upon signing the HLA’s Proposal Form.
9.4) It offers protection for both adult and child, and covers both death and total
Permanent disability (TPD).
9.5) Up to RM90,000 coverage per life insured; no medical examination required.
Coverage for death/TPD due to accidents will commence immediately on signing up
the Junior Saver’s Protection Plan
9.6) Accumulated income fund available upon maturity of policy.
9.7) The diagram showed herein is for illustration purpose only.

Benefits Junior Savers Protection Plan
st
1 Life Assured 2nd Life Assured
Death (All Causes) RM45,000 RM45,000
TPD (All Causes) RM45,000 RM45,000
Premium RM33 per month

Eligibility

• Adult – Any Malaysian who is in good health* and age from 18 years to 54 years
• Child – Any Malaysian who is in good health and age from 30 days to 17 years
• External Accountholder is not allowed to apply.

* As defined by HLA policy
Juvenile Death or TPD Benefits

In the event of death or TPD of the Life Assured occurring before age of five (5) years, the Sum
Assured payable under the Basic Life Policy shall be reduced as follows:

Age attained at Death or TPD % Sum Assured Payable
0 to 1 20%
2 40%
3 60%
4 80%
5 and above 100%

9.8) Shall there be any discrepancy between the premium, coverage or benefits stated
herein with those stated in the Product Fact Sheet, the Product Fact Sheet shall
prevail.

9.9) The acceptance of Junior Saver’s Protection Plan application is at the discretion of
HLA and all queries/clarifications and disputes shall be dealt with solely between the
customers and HLA.

(10.0) Fees and Charges
10.1) Cash withdrawal can be made using the JSA passbook and identification
satisfactory to HLB. HLB reserves the absolute discretion to change such mode or
manner of cash withdrawal at any time and from time to time.
10.2) No fee will be charged for first withdrawal of each calendar month. A service fee of
RM2.00 will be imposed for each subsequent withdrawal within the month.
10.3) Withdrawal transactions including but not limited to all debit transactions such as
cash withdrawal, debit transfers, over the counter and does not include standing
instructions, closing of account and returned cheques.

(11.0) Junior Debit Card
Junior Debit Card is a Reloadable Prepaid Debit Card issued to the parents/legal guardian for the
convenience of the child. It is given to the child, with the consent of the parents/legal guardian.

This T&C is to be read together with the Generic Debit Card Terms & Conditions with the
below exceptions:-

(a) “Birthday reward” not applicable to Junior Debit Card

(b) “E-Account” not applicable

(d) No “Monthly Statement Fee”

(e) No “Reward Points”

(f) Security Codes
(g) “Statement”

11.1) Parent need to sign an indemnity letter and a stamp duty of RM10 will be charged
for Junior Debit Card Application. Only ATM PIN will be issued for Junior Debit
Card.

(12.0) Reload options available to top up the prepaid account.

12.1) Auto Reload

12.1.1) Upon Card Issuance, RM50 will be auto reloaded to the prepaid account
provided customer has opted for Auto Reload service. Auto Reload will
be effected when prepaid balance falls below RM20 threshold limit*.
Minimum Auto Reload amount is RM50 and in multiples of RM50 up to a
maximum of RM500 per month.
12.1.2) Auto Reload is subject to batch Reload schedule, i.e 6am, 1pm and 5pm.
Batch Reload at 6am will not be considered as a reload count for the
day.
12.1.3) Only 1 Auto Reload allowed per day.
12.1.4) Auto Reload service is available only from JSA to Prepaid Account.

* Threshold limit will be changed from RM20 to RM50 effective 16 March 2011
for all existing and new customers.

12.2) Manual Reload

Manual reload can be performed via Over The Counter (OTC), Cash deposit
Machine, ATM and HL Online. RM2 will be charged for OTC reload. This amount
will be deducted from the reload amount (Eg, if customer reloads RM50, amount
credited to prepaid account will be RM48). No service charge imposed for reload
via CDM, ATM and HL Online.

13.0) Transaction allowed at ATM

13.1) Balance Enquiry, ATM Cash Withdrawal, Mobile Prepaid Reload
13.2) Change ATM PIN, Change Limit, Mini Statement and Regional Link Service

14.0) Transaction allowed at HL Online

14.1) Registration for Hong Leong Online access via Junior Debit Card is not allowed.
Registration must be done via parent’s Debit Card and parent to add the JSA/JFD
and JDC number at the “Update My Account” in order to view the details Online.
14.2) Parent can enquire balances & detail transactions of Junior Debit Card.

Eligible for protection by PIDM