[Time Deposits 2023]3 banks have long-term interest rates of 5.3% and 5%, and 9 major banks have earned nearly 40,000 in a quarter – Hong Kong Economic Daily – Financial Management – Interest Collection Strategy

Regardless of whether the U.S. interest rate hike has reached its peak, the high interest rate environment may continue for a while. Hong Kong dollar time deposits this month(deposit period of 3 months or above)It increased to a maximum of 5.3%, setting a new high since the beginning of this year. Many banks have raised interest rates, many of them to 5%.

The tax loan discount of 6.9% for 3 months is more practical if it is 5%

6.9% for 3 months is a discount for tax loan customers. If you want to simply make a time deposit, the “5% Club”(deposit period of 3 months or above)There are currently at least 9 banks as members, with a total of 5 deposit terms of 5%.

However, unlike the deposit and interest war at the beginning of this year, as interest rates are expected to peak in a short period of time, banks are focused on competing for large amounts of short-term funds:

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3 banks have 5.3%

Another new high interest rate of 5.3% was added this week. Chong Hing Bank raised interest rates today (November 29). Any customer who opens a three-month deposit with new funds will earn 5.3% for new funds of NT$3 million and 5.2% for NT$1 million. centimeters. This means that large investors can quickly earn $39,750 in one quarter!

If you are a new customer of Chong Hing, the minimum deposit threshold is lower. You can open a 5.2% deposit for NT$500,000, but you must complete “designated items”, such as opening online banking and applying for a credit card.

5.3% new highThere is also a new 168-day deposit period established by Overseas Chinese Bank, but it requires a new fund of 500,000 yuan for “Grand Wealth Management” customers, and the deposit period is as high as 5.3%; the 138-day deposit period is 5.1%. If it is NT$100,000 to less than NT$500,000, the two deposit terms are also 5.2% and 5% respectively.

General customers also have a high interest rate of 5%, but they also require new funds of up to 100,000 yuan, and the 168-day and 138-day deposit terms are both 5%.

Dah Sing Bank also increased to a maximum of 5.3% last weekalthough the minimum deposit is 100,000 yuan, it requires new funds from VIP customers to open it. The maximum amount can be 500,000 yuan, and the interest rate in 3 months exceeds 6,600 yuan.

More than 5 cents is exclusive to large households

The Bank of East Asia has recently increased it to 5.05%, but it is exclusive to new financial management customers. The minimum deposit for new SupremeGold customers is NT$100,000, or the minimum deposit for new SupremePlus private banking customers is NT$2 million. The three-month deposit period is 5.05%. For large accounts, Earn $25,250 in one season.

CNCBI has recently increased the three-month deposit period to 5.1%, but it is also exclusive to large accounts. Although the minimum deposit amount is only 100,000 yuan in new funds, it needs to be a CITIdiamond customer, that is, the asset value must reach 4 million yuan.

CCB Asia has recently lowered the threshold by 5.1%, from the original 5 million yuan to 1 million yuan. However, the threshold is still on the high side. With a three-month deposit period, one million yuan of new funds can earn nearly 13,000 yuan.

Bank of Communications Hong Kong has also recently increased it to 5.1%, but in addition to new funds, it also requires designated financial management customers to open it.

Public Bank also increased deposit interest rates last week, with the price for a three-month deposit period being 4.8%. New funds from mobile banking are an additional 0.2%, or a total of 5%, with a minimum deposit of NT$500,000.

Many banks are approaching 5%

Chiyu Bank has extended the 4.95% discount for a 108-day deposit period for another week, but the minimum deposit amount is NT$3 million for new funds. If it is 1 million yuan, the three-month deposit period is 4.88%.

Fubon Bank recently cut interest rates, with the three-month deposit period falling below 5%, but the highest is still 4.9%. The 12-month and 6-month deposit terms are reduced to 4.6%.

Virtual banks have also raised interest rates recently. Skystar Bank has recently increased its three-month deposit period to 4.8%, and Fulong Bank’s six-month deposit period has increased to 4.8%, both of which are among the highest interest rates among low thresholds.

Analysis: Hong Kong’s interest rate will drop early next year, so high-interest fixed deposits can be purchased at the end of the year

Lin Junhong, head of research department of Shanghai Commercial BankIt is expected that Hong Kong interest rates will show a downward trend because the market expects the United States to cut interest rates. Unless there is an IPO or a huge change in funds in the market, it will follow the trend of U.S. interest rates and slowly move downward. In addition, interest rates are deeply affected by year-end financial difficulties. After the end of this year and the Lunar New Year, if the United States does not raise interest rates, Hong Kong interest rates may fall significantly. If you intend to deploy short-term 3-month fixed deposits, it is best to Pick seasonal days before the end of the year and the Lunar New Year.

He believes that the last interest rate hike in the United States has occurred, and the situation will be clearer early next year. The space for interest rates to rise further is relatively limited. At that time, some longer-term deposits can be considered. As for interest rate cuts, he said that they will not come soon, but as soon as they start, the speed of interest rate cuts can be “quick as a lightning”, and it is recommended that everyone pay close attention.

Low threshold: Xuyin’s existing funds are 4.8%

HSBC earlier increased the three-month deposit period to a maximum of 4.7%, but it is a new fund for higher-level customers (Jade or Premier). If you want to lower the threshold, you can pay attention to virtual banks. Many virtual banks have as high as 4.8%.

Mox Bank’s time deposit has a new way to play. You don’t need to wait for the deposit to mature, you can receive interest first. For details, please see【Next page】

Xuyin distributes interest rate coupons from time to time, and the basic interest rate together with the interest rate coupons is nearly 5%. Readers should pay more attention if they have opened relevant accounts.

The last update date of this article: November 28, 2023

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