More than 10 banks join the 4% club (just added by CCB 4.4% and Fubon 5.1%) - Hong Kong Economic Times - Financial Management - Interest Income Strategy

Keep an eye on the latest news: 【Fixed deposit above 5% 12 months HKD 4.6% USD up to 5.1%】

Another bank joins the “4% Club” of fixed deposits and all are shaking up low-silver bonds to combat tough market conditions. At present, there are at least 12 banks with a 4% fixed deposit, including Dah Sing Bank, CNCBI, Nanyang Commercial Bank, Bank of Communications Hong Kong, Public Bank, CCB Asia, DBS, Standard Chartered, ICBC Asia, OCBC Wing Hang, Fubon Bank and Bank of East Asia.

The 4% high interest term deposits listed below include US dollars, Hong Kong dollars and other foreign currencies. Please note that the deposit period is 3 months or more and short term deposits above 10% for 1 week are not included. The high-interest promotion of 8.8% of East Asia is not included, because the deposit limit is only 10,000 yuan and the effective interest is very low.

HKD time deposit of 4% or more (annual interest rate is listed from lowest to highest)

Maximum Fubon 4.6%

Fubon has significantly raised the deposit interest rate and each deposit period is the king of deposit interest. The 12-month Hong Kong dollar annual interest rate is 4.6% and the 9-month, 6-month and 3-month annual interest rates are also 4.5%, 4.4% and 4.2% respectively. , The entrance fee is 1 million yuan.

CCB Asia is catching up with the latest promotion for new customers. The 12-month Hong Kong dollar annual interest rate is 4.3%, but new customers need to open “VIP Premier” and ” VIP Wealth Management “with new funds of 1 million yuan or more. This offer is also available for 3 months with an annual interest rate of 4.1%. However, the threshold for designated wealth management accounts is not low. For example, “VIP Wealth Management” means that the combined average daily balance of the account must be at least RMB 1 million.

As for existing “VIP Premier” and “VIP Banking” customers, the 12-month Hong Kong dollar annual interest rate was also increased to 4.2% and deposit interest was increased for two days. consecutive. The 6-month deposit rate is also increased to 4%, which is the first 6-month deposit rate of 4% in the city. They both have the same minimum deposit of 1 million yuan.

The CNCBI recently raised both 12-month Hong Kong dollar and US dollar term deposits to 4.2%, and the threshold is low: it only needs new funds of HK $ 10,000 or US $ 1,500. but online / banking services for smarthpone must be established.

Chinese banks competed one after another for the “King of deposits and interest”. On Wednesday, Nanyang Commercial Bank launched a pop-up discount, with a fixed deposit of 388 days in Hong Kong dollars and an annual interest rate of 4.18%. Calculated from the deposit amount of 500,000 yuan, the interest earned during the period is approximately 22,200 yuan.

ICBC (Asia) recently increased the 388-day fixed deposit in Hong Kong dollars to 4.1%, as long as it is for ICBC “Elite Club” clients (total average daily asset management value is 800,000 yuan) . However, ICBC also has a lower minimum deposit amount, only 4% for 388 days of 100,000 yuan.It is not necessarily a client of an asset management club, but a complete client.

Fixed deposit of 4% or more in USD (annual interest rate is listed from lowest to highest)

Fubon goes up by 5%, according to the king of the deposit and interest

After many banks had USD term deposits of 4%, Fubon Bank, which was the first to reach the 4% level, raised the annual interest rate on 12-month USD term deposits to 5.1%. 9 months and 6 months increased by 4.95% and 4.8% respectively, and also 3 months is 4.7% and the admission fee is equivalent to 1 million Hong Kong dollars.

The thresholds of other banks are not low: for example, ICBC Asia’s 4.1% in 388 days costs US $ 15,000 and 4.05% in 12 months costs US $ 1 million, while Bank’s 4.1% of East Asia in 12 months requires a minimum deposit of 100,000. New Hong Kong dollar funds. Standard Chartered and Public Bank Hong Kong are lower, with a minimum deposit of USD 2,000.

4% or more term deposit in foreign currency

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The annual interest on fixed foreign currency deposit is high risk and high

In addition to the US dollar, other foreign currencies have fixed deposits and long-term interest rates of up to 4%. Standard Chartered’s 12-month pound hits 4.5%. His 12-month Australian dollar fixed deposit was originally 4%, but today the bank adjusted it to 3.5%.

However, the risk of making fixed foreign currency deposits is currently quite high, as the British pound and Australian dollar fell 19% and 13% against the Hong Kong dollar this year. Term deposits in foreign currency cannot be “made to do” unless it is necessary to use foreign currency.

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