Thoughts on the new Hong Leong Bank iSavings Account ?

Hey Anon, it looks pretty decent to me, 1.08% interest p.a for your first $20k and 1.38% interest p.a on your next $30k, slightly higher as compared to CIMB FastSaver which offers 1% interest p.a for your first $50k.

The cons would probably be the high minimum average daily balance of $5k, which would inccur a $5 service fee should you fail to maintain the balance monthly.

Have no plans to open this account since I have Singlife Account (2.5% interest p.a), Etiqa Elastiq (2.02% interest p.a) and Standard Chartered JumpStart (2% interest p.a), all offering an interest rate higher than what HL iSavings offers.