Hibor is high, and large banks have recently increased deposit interest rates. Following HSBC and Bank of China Hong Kong, Standard Chartered Bank also increased the annual interest rate on time deposits today, but the increase was not as large as the first two. For Hong Kong dollar time deposits, it only increased the three-month deposit period from 3.4% to 3.7%;
Recently, HSBC has increased the deposit terms of 6 months and 3 months to a maximum of 4.2% and 4% respectively. General customers also have a maximum of 4%, which is a higher level in the market.
On Tuesday (September 12), BOC Hong Kong raised interest rates and also increased the six-month and three-month deposit terms to a maximum of 4.2% and 4%, which are lower than the threshold of HSBC. Generally, personal banking customers can go online or mobile Banks can be opened.
The high-interest time deposits of the four major banks listed below all require new funds and be opened through electronic channels, but the minimum deposit amount is only NT$10,000:
Prices quoted by large banks for general customers (Hong Kong dollar time deposit)Bank 12-month annual interest rate, 6-month annual interest rate, 3-month annual interest rate, minimum deposit amount HSBC (Jade or Premier Banking)/4.2 centimeters4.0 centimeters10,000 HSBC (HSBC One or other customers)/4.0% 3.8% 10,000 BOC Hong Kong (personal banking customers) 3.4%4.2 centimeters4.0 centimetersNT$10,000 Hang Seng (general integrated account)/3.4%4.0% (4 months deposit period)10,000 yuan Standard Chartered (personal banking customers) 3.4% 3.8% 3.7% 10,000 yuan
As can be seen in the table above, HSBC Jade or Premier customers have an advantage of 0.2%, with a maximum of 4.2% in 6 months, and HSBC One or other customers have an advantage of 4%. As for the three-month deposit period, HSBC increased it to a maximum of 4% last week, and for general customers, it was a maximum of 3.8%.
After BOCHK raised interest rates, it was in line with HSBC’s highest annual interest rate. However, general individual customers also had interest rates of 4.2% and 4%, which were higher than the annual interest rates of HSBC One customers.
As for Standard Chartered, another banknote-issuing bank, although it has always given high-interest discounts to large or selected customers, the new fund discount for ordinary customers is still below 4%.
Hang Seng 4 months 4%
General customers of Hang Seng Bank also have a high interest rate of 4%, but it has a 4-month deposit period. If it is a 3-month deposit period, it is 3.4%. If it is Prestige Financial Management or Prestige Private Financial Management, it is 3.5%.
Standard Chartered ranks first in US dollar long-term interest rates
Hang Seng 5.2%
The four major banks simultaneously increased their interest rates on U.S. dollar deposits. HSBC and Bank of China Hong Kong increased their six-month deposit terms to a maximum of 4.8% and three-month deposit terms to a maximum of 4.3%.
Standard Chartered ranks first in long-term interest rates, with the 12-month deposit period increasing to 4.2%, which is higher than HSBC and BOC Hong Kong’s 4%.
However, in terms of U.S. dollar deposit interest, Hang Seng still has the highest among the four major banks, because Hang Seng offers up to 5.2% to grab U.S. dollar funds, which is applicable to 6-month or 4-month deposit terms. Take a look at the table below:
Prices for general customers of large banks (USD fixed deposit)Bank 12-month annual interest rate 6-month annual interest rate 3-month annual interest rate Minimum deposit amount HSBC (Jade or Premier) 4.0% 4.8% 4.3% USD 2000 HSBC (HSBC One or other customers) 3.8% 4.6% 4.1% 2000 USD BOCHK (Personal Banking Customers) 4.0% 4.8% 4.3% USD 1000 Hang Seng (General Integrated Account)/5.2%5.2% (4 months deposit period)US$10,000 Standard Chartered (personal banking customers)4.2 centimeters4.2% 3.9% $2000
It should be noted that the prices mentioned above are all quoted prices. Large banks such as HSBC will provide higher interest rates to selected customers from time to time. If you have accounts with the four major banks, you should pay more attention.
The last update date of this article: September 13, 2023
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Are high-interest time deposits good?A lazy person can watch the sun
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2023-09-13 12:35:07
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