The wave of interest rate hikes last week due to the scrambling for bank bond refunds has shown signs of cooling down in traditional banks. Both Dah Sing Bank and CCB Asia have reduced deposit interest rates this week. However, many banks have raised interest rates. The Bank of East Asia has raised interest rates to 4.6% and OCBC Bank has raised interest rates again to 4.4%. The highest in the city.
Huili Bank’s 4.5% is a 24-month and 18-month deposit period, with an initial deposit of 10 yuan, and no new funds are required. Among the current virtual banks, Mox Bank also has a 24-month deposit period, with an annual interest rate of 4.2%, but it needs to be new funds.
If it is a 6-month deposit period, there are several virtual banks that charge 4.2%. For a 3-month deposit period, Zhongan’s 6.6% has an upper limit of 50,000 yuan, and the actual interest rate is about 800 yuan. Several other companies generally charge 4%. or above.
The picture below shows the ratio of virtual silver time deposits:
▼Click the picture to enlarge
Citigroup 5.2% required for private clients
In August, time deposits continued to increase, and Hong Kong dollar time deposits (with a deposit period of 3 months or above) saw a high interest rate of 5% again! Citibank recently increased the 3-month deposit period to a maximum of 5.2%, and the US dollar fixed deposit also increased to the same level. Although the initial deposit is only 50,000 yuan, it is not easy to meet the following two conditions:
Need to be a new customer of Citigroup’s private client business account (the amount of assets under management must be HK$8 million or more) need to hold a designated product balance of US$10,000 or more (funds, bonds, structured products, securities or life insurance)
If you are a new Citigold customer with a lower threshold, the highest annual interest rate is 4.2% for 3 months, and you also need to hold designated investment products. The preferential period is also temporarily until August 26.
Chong Hing Bank increased to 5%
Chong Hing Bank also increases it to 5%, but it is obviously to attract large-value depositors, because the initial deposit requires new funds of 5 million yuan to reach 5%, and 4.8% for 1 million yuan or more. The deposit period is also 3 months. If the threshold is lower, and a new customer opens with 500,000 yuan, the maximum is 4.5%.
Overseas Chinese Bank 4.75 Rin
OCBC Bank launched a new discount, 9-month deposit period, 4.75% for 500,000 yuan or more, and the maximum deposit amount is 8 million yuan. If 50,000 yuan is less than 500,000 yuan, it is 4.5%.
It should be noted that this discount does not need to be subscribed by the bank to open the bank bond, as long as the new funds of the person who meets the bank bond application qualifications are sufficient, of course, the refund amount of the bank bond can also be regarded as new funds.
CNCB 6 months 4.68%
CNCBI’s discount on bank bond refunds is better than the threshold. The minimum deposit is 10,000 yuan. The 6-month deposit period is 4.68%, which is the breaking interest of this deposit period, and the 12-month deposit period is 4.28%. percent.
Fubon Bank 6 months 4.6%
Fubon Bank has broken the ceiling interest rate, and the 6-month deposit period has been increased to 4.6%, which is applicable to new funds of 1 million yuan or more in branches; the 3-month deposit period also has a maximum of 4.5%. There is also a US dollar part of this promotion, which has a higher interest rate than Hong Kong dollars. The 6-month deposit period is as high as 5.6%, and the 3-month deposit period is 5.5%. It is applicable to new funds of US$100,000 or above.
Other 4.5% or above high-interest time deposits:
Dah Sing Bank 4.8%:For new VIP banking service customers, there is 4.8% for a 3-month deposit period, with a minimum deposit of 100,000 yuan and a maximum deposit of 500,000 yuan; for existing VIP banking service customers, 4.6% and a minimum deposit of 1 million yuan Bank of East Asia 4.6% : Applicable to bank bond refund funds, the 3-month deposit period has been increased from the original 4.4% to 4.6%, and the minimum deposit is 100,000 yuanICBC (Asia) 4.6%:4.6% for new funds in new branches, 100,000 to 800,000 yuan, 1-month or 3-month deposit period; existing customers also have 4.5% high interest rate, which is suitable for large Elite Club accounts with a minimum deposit of 3 million yuan. The deposit period is 98 days.CCB Asia 4.55%:CCB Asia has recently reduced the 3-month new fund discount to 4.45%, while the bank bond refund has an additional 0.1% discount, so there is 4.55%China Merchants Wing Lung 4.5%:The highest long-term interest rate in the city, 12-month, 9-month and 6-month deposit periods, minimum deposit of 5 million yuan, 4.5%, exclusive for large households
It can be seen from the above that the high interest rate of 4.5% or above can be described as a “big encirclement”, covering various deposit periods. The most surprising thing is China Merchants Wing Lung, which has 4.5% for 12 months, 9 months and 6 months, and the long-term deposit period breaks the city. The highest, and there are interest rate hikes at different thresholds. Even if the minimum threshold is 10,000 yuan, there is still a 4% higher interest rate.
The other ones mainly have a deposit period of 3 months, mainly attracting customers who do not want to lock up their funds for too long.
Inventory of more than 10 4.5% high interest rate optionsBank Annual Interest Rate Deposit Period Deposit Amount Citigroup5.2 centimeters50,000 yuan for 3 months (new private customer) Chong Hing Bank5.0%5 million yuan for 3 months (1 million yuan is 4.8%) Dah Sing Bank 4.8% 3 months 100,000 to 500,000 yuan (new VIP customers) Overseas Chinese Bank 4.75% 9 months 500,000 yuan CNCBI 4.68% 6 10,000 yuan per month Bank of East Asia 4.6% 3 months 100,000 yuan (refund for bank bonds required) Fubon Bank 4.6% 6 months 1 million yuan 4.5% 3 months ICBC Asia 4.6% 3 months, 1 100,000 yuan to 800,000 yuan per month (new comprehensive account) 4.5% 98 days 3 million yuan CCB Asia 4.55% 3 months 1 million yuan (need to refund bank bonds) China Merchants Wing Lung 4.5% 12 months, 9 months, Chong Hing Bank 4.5% for 6 months RMB 500,000 for 3 months (new customers complete designated projects) Huili Bank 4.5% for 24 months, 10 yuan for 18 months
List of low threshold 4% high interest rates
In addition to virtual banks, DBS Bank, Chong Hing Bank and Bank of Communications Hong Kong have also raised interest rates recently, pushing up the interest rates of low-threshold fixed deposit products:
4% lower thresholdbankentrance feeannual interest ratedeposit periodCNCBI 10,000 yuan (bank bond refund discount) 4.68% 6 months 4.28% 12 months East Asia 100,000 yuan (bank bond refund discount) 4.6% OCBC Bank 50,000 yuan 4.5% 9 months remittance Li 10 yuan 4.5% 24 months, 18 months 4.3% 12 months, 9 months DBS 50,000 yuan 4.4% 12 months 4.3% 6 months Mox Bank 1 yuan 4.4% 12 months 4.2% 24 months, 6 months Ping An OneConnect 100 yuan 4.2% 6 months, 4 months, 3 months Furong does not have a minimum deposit 4.2% 6 months 4.0% 3 months CMB Wing Lung 10,000 yuan 4.05% 12 months, 9 months, 6 months, 3 months Hang Seng 10,000 yuan 4.1% 3 months Chong Hing 5,000 yuan 4.2% 3 months Bank of Communications Hong Kong 20,000 yuan 4.0% 6 months, 3 months
Other 4% high interest rate
ICBC (Asia) 4.5% (existing customers) bank deposit period annual interest rate admission fee ICBC (Asia) 98 days 4.5% 3 million yuan (Elite Club customers, new funds in branches) 4.4% 800,000 yuan (Elite Club customers, new funds in branches) ) 4.3% 100,000 yuan (personal customers, new funds in branches) 188 days 4.3% 3 million yuan (Elite Club customers, new funds in branches) 4.2% 800,000 yuan (Elite Club customers, new funds in branches) 4.1% 100,000 yuan ( Personal customers, branch new funds)
Nanyang Commercial Bank adds up to 4.3% annual interest rate for bank deposits. Admission fee for Nanyang Commercial Bank is 4.3% for 8 months. 4.0 per cent for 12 months
OCBC’s 12-month increase to 4.4%Bank deposit period annual interest rate admission fee OCBC Bank 12 months 4.4% 100,000 yuan (Hongfu wealth management customers) 9 months 4.38% 6 months 4.3%
Bank of China and Hang Seng successively increased deposit interest
Large banks have also made adjustments, including major banks such as Bank of China Hong Kong and Hang Seng, which have also followed HSBC and have successively increased deposit interest rates for non-selected customers. HSBC raised the time deposit for general customers earlier, from 3.4% to 3.6% for 6 months (Shangyu or Premier Banking customers), and 3.4% for HSBC One customers; and 3 months deposit period from 3.3% To 3.5%, (Jade or Premier customers), HSBC One customers will increase to 3.3%.
Bank of China subsequently increased deposit interest, which was consistent with HSBC. The maximum deposit period for general customers is 3.6% for a 6-month deposit period and 3.5% for a 3-month deposit period.
Hang Seng Bank has also raised interest rates recently. The 6-month deposit period of Prestige Private Wealth Management and Prestige Wealth Management has increased to a maximum of 3.5%, which is 0.3% higher than before, while that of Prestige Wealth Management or General Integrated Account is 3.4%.
However, this is still far from the market level. In fact, HSBC has given selected customers super high interest rates. According to reports, the 6-month deposit period of HSBC’s selected customers is as high as 5.21%, and 5.15% for 3 months. If it is a selected customer of Bank of China Hong Kong, it is reported that there is also 4.1%.
Prices for general customers of large banksBank 12-month annual interest rate 6-month annual interest rate 3-month annual interest rate Minimum deposit Hang Seng/3.5% 4.1% 10,000 yuan Standard Chartered 3.4% 3.8% 3.3% 10,000 yuan HSBC/3.6% 3.5% 10,000 yuan Bank of China Hong Kong 3.4 3.6% 3.5% 10,000 yuan
For non-selected customers, the time deposit discounts of large banks are not as good as other banks. The highest interest rate is Hang Seng’s 3-month 4.1%. As long as it is new funds online, general customers can also open.
Date this article was last updated: August 22, 2023
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2023-08-22 16:45:09
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