Hong Leong Finance Fixed Deposit Rate Singapore (2026)
Latest HLF fixed deposit rates, how they compare to banks, and whether finance company FDs are safe.
Hong Leong Finance (HLF) offers some of the highest fixed deposit rates in Singapore — up to 2.95% p.a. for a 12-month tenure with deposits of $100,000 or more, as at July 2026. Even at the $20,000 tier, the 12-month rate of 2.90% p.a. beats every major bank in Singapore. As a finance company regulated by MAS and covered by SDIC deposit insurance up to $100,000, HLF is a legitimate and safe option for Singaporean savers looking to squeeze more out of their fixed deposits.
Not financial advice. All figures are for educational reference only. Data as at July 2026 unless noted. Rates are subject to change without notice.
- HLF offers the highest standard FD rates in Singapore — 2.90–2.95% for 12 months vs 2.50–2.80% at banks
- Fully insured by SDIC up to $100,000 — same government protection as DBS, OCBC, UOB deposits
- The 12-month sweet spot gives the best rate; rates drop for 18–24 month tenures in the current environment
Table of Contents
Contents — Click to expand
HLF Fixed Deposit Rates at a Glance
Hong Leong Finance is Singapore’s largest finance company by assets. It’s been operating since 1961 and is a subsidiary of Hong Leong Group, one of Singapore’s major conglomerates. Unlike banks like DBS or OCBC, HLF is classified as a finance company — but it’s still fully regulated by the Monetary Authority of Singapore (MAS) under the Finance Companies Act.
The key draw? HLF consistently offers higher fixed deposit rates than the big three local banks. Finance companies can afford to pay more because they have lower operating costs — fewer branches, less marketing spend, and a simpler product range.
| Tenure | Rate ($20,000 min) | Rate ($100,000+) |
|---|---|---|
| 3 Months | 2.55% p.a. | 2.65% p.a. |
| 6 Months | 2.75% p.a. | 2.85% p.a. |
| 12 Months | 2.90% p.a. | 2.95% p.a. |
| 24 Months | 2.68% p.a. | 2.75% p.a. |
Source: Hong Leong Finance website, July 2026. Rates subject to change without notice.
HLF FD Rates by Tenure and Deposit Size
Like banks, HLF’s rates are tiered by both tenure and deposit amount. Here’s the full rate table:
| Tenure | $10,000–$19,999 | $20,000–$49,999 | $50,000–$99,999 | $100,000+ |
|---|---|---|---|---|
| 1 Month | 2.20% | 2.25% | 2.30% | 2.35% |
| 3 Months | 2.45% | 2.55% | 2.60% | 2.65% |
| 6 Months | 2.65% | 2.75% | 2.80% | 2.85% |
| 9 Months | 2.75% | 2.85% | 2.88% | 2.90% |
| 12 Months | 2.80% | 2.90% | 2.93% | 2.95% |
| 18 Months | 2.70% | 2.78% | 2.80% | 2.85% |
| 24 Months | 2.60% | 2.68% | 2.70% | 2.75% |
Source: Hong Leong Finance website, July 2026. Rates are indicative and subject to change.
Here’s a quick calculation. If you place $50,000 in a 12-month HLF FD at 2.93%, you’ll earn $1,465 in interest — that’s $122 per month of guaranteed, risk-free income. At the big three banks offering 2.50–2.60%, the same deposit earns only $1,250–$1,300. HLF puts an extra $165–$215 in your pocket.
The minimum deposit at HLF is $10,000 for most tenures, which is slightly higher than some banks that accept $5,000. But the rate premium more than makes up for the higher entry point.
Is Hong Leong Finance Safe for Fixed Deposits?
This is the question everyone asks — and the answer is yes, with one important nuance.
Hong Leong Finance is fully regulated by MAS under the Finance Companies Act. Your deposits are covered by the Singapore Deposit Insurance Corporation (SDIC) scheme for up to $100,000 per depositor. This is exactly the same government-backed deposit insurance that covers DBS, OCBC, and UOB deposits.
So if you deposit $100,000 or less with HLF, your money is 100% insured by the Singapore government — period. Even if HLF were to fail (highly unlikely given its 60+ year track record and Hong Leong Group backing), you’d get your money back through SDIC.
The nuance? If you have more than $100,000 to deposit, spread it across multiple institutions to stay within the SDIC coverage limit at each one. Put $100,000 at HLF, $100,000 at DBS, and $100,000 at BOC — all three amounts are separately insured.
HLF vs Banks: Which Offers Better FD Rates?
HLF beats every major bank on 12-month FD rates. Here’s the full ranking:
| Institution | Type | 12-Month Rate ($20k) | SDIC Insured? |
|---|---|---|---|
| Hong Leong Finance | Finance Company | 2.90% | Yes ($100k) |
| Sing Investments & Finance | Finance Company | 2.85% | Yes ($100k) |
| Bank of China | Bank | 2.80% | Yes ($100k) |
| RHB | Bank | 2.70% | Yes ($100k) |
| CIMB | Bank | 2.65% | Yes ($100k) |
| OCBC | Bank | 2.60% | Yes ($100k) |
| UOB | Bank | 2.55% | Yes ($100k) |
| DBS | Bank | 2.50% | Yes ($100k) |
Source: Respective institution websites, July 2026. Rates subject to change.
The difference between HLF (2.90%) and DBS (2.50%) is 0.40 percentage points. On a $50,000 deposit over 12 months, that’s $200 more in interest — meaningful for a risk-free instrument. On $100,000, the gap widens to $400.
If you’re already placing FDs with a major bank, there’s little reason not to at least split your deposits and place a portion with HLF. You get a higher rate with identical SDIC protection.
How to Open a Hong Leong Finance Fixed Deposit
HLF has 28 branches across Singapore. Opening an FD is simple:
Step 1: Visit any HLF branch with your NRIC (for citizens/PRs) or passport and work pass (for foreigners). You can also call their hotline to enquire about current rates before visiting.
Step 2: If you don’t have an HLF savings account, open one at the same visit. This takes about 15–20 minutes.
Step 3: Transfer funds to your HLF savings account via FAST transfer from any Singapore bank (free and instant), or bring a cheque.
Step 4: Place the fixed deposit at the counter. Choose your tenure and amount. You’ll receive a confirmation receipt — keep this safe.
HLF also offers online FD placement through their internet banking portal for existing customers. However, the branch experience is generally faster for first-time customers since you’re opening an account and placing the FD simultaneously.
Tips to Maximise Your Fixed Deposit Returns
Use an FD laddering strategy. Split your total deposit across multiple tenures — 3-month, 6-month, and 12-month. As each matures, renew at the best available rate. This gives you regular liquidity while still earning competitive rates on the majority of your cash.
Diversify across institutions. Place up to $100,000 at HLF for the best FD rate, then use other institutions for amounts above $100,000 to stay within the SDIC coverage limit at each one. Consider Bank of China (2.80%), RHB (2.70%), or OCBC (2.60%) for additional placements.
Compare with T-bills and SSBs. Before committing to a 12-month FD, check the latest Singapore T-bill rates and SSB yields. T-bills sometimes offer comparable or better yields, and SSBs offer unique flexibility with monthly redemptions.
Don’t lock up emergency funds. Keep 3–6 months of living expenses in a liquid high-yield savings account before putting money into FDs. Consider accounts like the Syfe Cash+ account or a digital bank savings account for your emergency fund.
For your long-term wealth beyond safe deposits, our retirement calculator can help you determine the right split between safe assets (FDs, T-bills, SSBs) and growth investments (ETFs, REITs). You can also check our Endowus referral code page if you’re ready to start investing the portion beyond your safe cash.
Not financial advice. Fixed deposit rates are indicative and subject to change. Always verify the latest rates directly with Hong Leong Finance before placing a deposit.
Frequently Asked Questions
What is Hong Leong Finance fixed deposit rate now?
As at July 2026, Hong Leong Finance offers fixed deposit rates from 2.20% p.a. (1-month, $10,000 minimum) up to 2.95% p.a. (12-month, $100,000+ deposit). The most popular tier — 12 months at $20,000 — pays 2.90% p.a. These rates are among the highest available from any SDIC-insured institution in Singapore. Always check HLF’s website for the latest rates before placing a deposit.
Is Hong Leong Finance safe for fixed deposits?
Yes. Hong Leong Finance is regulated by MAS under the Finance Companies Act and has been operating in Singapore since 1961. Your deposits are covered by the Singapore Deposit Insurance Corporation (SDIC) for up to $100,000 per depositor — the same government-backed protection that covers deposits at DBS, OCBC, and UOB. For amounts above $100,000, spread across multiple institutions to maximise insurance coverage.
What is the minimum deposit for Hong Leong Finance FD?
The minimum fixed deposit at Hong Leong Finance is $10,000 for most tenures. This is slightly higher than some banks that accept $5,000. However, the rate premium that HLF offers over banks more than compensates for the higher entry point. For the best rates, a minimum of $20,000 is recommended as the rate jump from the $10,000 to $20,000 tier is significant.
Why does Hong Leong Finance offer higher FD rates than banks?
Finance companies like HLF typically offer higher fixed deposit rates because they have lower operating costs than full-service banks. They have fewer branches, less marketing spend, and a narrower product range. This means more of the interest income from their lending activities can be passed back to depositors as higher FD rates. HLF also relies more heavily on deposits for funding, creating a competitive incentive to attract savers.
Can I open a Hong Leong Finance fixed deposit online?
Existing HLF customers can place fixed deposits through Hong Leong Finance’s internet banking portal. However, new customers need to visit an HLF branch in person to open a savings account first. Once your account is set up, subsequent FD placements can be done online. HLF has 28 branches across Singapore, so finding one nearby shouldn’t be difficult.
What happens if I withdraw my HLF fixed deposit early?
Early withdrawal of an HLF fixed deposit will result in a penalty — typically forfeiture of some or all of the interest earned. The exact penalty depends on the tenure and how early you withdraw. To avoid this, consider using an FD laddering strategy with multiple shorter-term deposits, or keep a portion of your savings in a liquid account for emergencies. Never lock up money you might need before the maturity date.
Get the Best Rates for Your Savings
Compare fixed deposits, T-bills, and SSBs to find the best home for your safe money.
