Apart from Hong Kong dollars and US dollars, Hong Kong people often make time deposits in RMB. This website compares the regular annual interest rate of RMB among nearly 20 banks, the highest is 15%, but the highest long-term interest rate is only 2.75%. Compared with foreign currencies such as US dollars Hong Kong, US dollars and even British pounds, there is some distance. Readers should be aware that the days of the renminbi gaining both interest and value are long gone. However, the RMB exchange rate has recently shown a tendency to stop falling. The market is waiting to see how China will continue to alleviate the epidemic and save the economy. Readers can always pay attention to the performance of the RMB.
Fixed deposit ratio in renminbi
Short-term storage is better than play, and the foreign exchange risk is also lower
The fixed term of the renminbi should be short rather than long. First, the exchange rate fluctuates. Second, long-term interest rates are unattractive. Conversely, short-term interest rates are higher against normal foreign currencies. For example, Citi currently offers1 month 7%RMB fixed-term, but must be opened in a branch. Fubon and CNCBI also have a fixed month term of more than 4%, and the initial deposit amount is not large, only HK$100,000 and HK$10,000 respectively.
For 1 week, the highest interest rate is15% of CCB AsiaHowever, this offer must be opened at the same time as the bank’s “Monthly Interest Increased Savings Account”, otherwise it is 11%. Get rid of this choice,Both Fubon and Nanshang have 13.88%CNCB has 13.8%, which is to be traded with funds only.
2.75% require a deposit of 5 million yuan for 2 years
At present, the long-term RMB interest rate is not attractive. The highest interest rate is 2.75% of China Merchants Wing Lung, but the initial deposit must be up to RMB 5 million, and the deposit period must be up to 24 months long. If this requirement can be met, the interest rate will be 27.5% in 2 years ten thousand yuan.
If the initial deposit is slightly lower, 100,000 yuan, CMB Wing Lung also has 2.7%, and 10,000 yuan is 2.65%. However, the 24-month deposit is a long time for many readers to lock in funds, and the exchange rate risk is high.
12 months up to 2.7%
If it is a 12-month deposit period, China Merchants Wing Lung has a maximum of 2.4%, which is lower than Public Bank, Standard Chartered and Bank of Communications. In addition, the initial deposit of the last three is only 10,000 yuan, which is relatively close to the people.
2.5% for 6 months 2.3% for 3 months
The deposit period of 6 months and 3 months is the highest in the public bank, 2.5% and 2.3%, respectively, and the minimum deposit is 10,000 yuan.
If you have a lot of cash on hand, 2.3% 6-month Fubon, the minimum deposit is 1 million Hong Kong dollars or the equivalent of new funds or exchange funds. 2.3% of Nanshang need 100,000 yuan.
In terms of 3 months, in addition to Public Bank, Shangshang has 2.15% for brand new funds or exchange funds with a minimum deposit of 100,000 yuan; Xuyin Furong has 2.1% for deposits of 500,000 yuan.
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