Towards the end of the quarter, some banks took the lead in vying for year-end funds, and interest rates on Hong Kong dollar fixed deposits with a three-month deposit period were raised again.
Banks are scrambling for year-end funds and have recently launched an additional four-month Hong Kong dollar fixed deposit discount. The current maximum is 4.88%, which is a new fund discount offered by Bank of East Asia branches. Xuyin Ping An One Account also has 4.88%. For a 3-month Hong Kong dollar time deposit, CNCBI offers up to 4.88%, which is exclusive to large households. This offer has been extended to October 3, but the minimum deposit amount is as much as NT$2 million! Quickly earn $24,400 in one quarter.
4-month Hong Kong dollar time depositBank annual interest rate deposit amount conditions East Asia 4.88% 100,000 yuan branch new funds Ping An OneConnect 4.8% 100 yuan virtual bank, only electronic channels ICBC (Asia) 4.5% (128 days) 3 million yuan wealth management customer branch new funds Dah Sing 4.4 NT$1 million VIP bank customer branch new funds Hang Seng NT$4.4 NT$10,000 comprehensive customer online new funds DBS NT$4.3 NT$50,000 online new funds
The thresholds for the above two 4.8% discounts are not high. The Bank of East Asia branch’s new fund discount was originally scheduled to expire on September 30, but was recently changed to be available on a first-come-first-served basis. The minimum deposit amount for this discount is NT$100,000.
Ping An One Account has repeatedly raised interest rates, and only increased the deposit period by 4 months. The latest increase is 4.8%, which is the highest interest rate among virtual banks. The minimum deposit of 4.8% is only 100 yuan, and it can be opened with existing funds.
The highest in 3 months is 4.88%
There is a big merger of 3-month fixed deposits. After Citigroup’s 5% expires on September 30, it is unknown whether it will continue. CNCBI’s 4.88% offer has been extended to October 3, and is exclusive to large accounts. The minimum deposit is NT$2 million, and you can quickly earn more than NT$24,000 in a quarter.
Fubon Bank has also recently increased it to 4.8%, with a minimum deposit of 500,000 yuan, which is a new fund discount for mobile banking. This discount was originally 4.6%, but the interest rate was recently raised to 4.8%.
The highest interest rate in Hong Kong dollars (3-month deposit period)Bank annual interest rate deposit amount conditions CNCBI 4.88% 2 million yuan branch new funds Fubon 4.8% 500,000 yuan mobile banking new funds CCB Asia 4.7% 1 million yuan all customers new funds Chuangxing 4.7% 500,000 yuan new customers complete the designation Projects Public Bank 4.7% NT$500,000 Mobile Banking New Funds East Asia NT$4.6% NT$2 Million New Premium Private Financial Clients ICBC Asia NT$4.6% NT$100,000 to NT$800,000 New Customer Branch New Funds Bank of Communications Hong Kong NT$4.3% NT$1 Million Designated Financial Management Online new funds for customers HSBC 4.3% NT$10,000 Online new funds for Jade or Premier customers Bank of China Hong Kong NT$4.3% 10,000 Personal customers open new funds via online/mobile banking Hang Seng Bank NT$4.3% 10,000 integrated customers online New funds Nanyang Commercial Bank 4.2% 1 million yuan Nanyang Financial Management customers new funds DBS 4.15% 50,000 yuan Online new funds Merchants Wing Lung 4.0% 5 million yuan mobile banking opening, both new and old funds can be Dah Sing Bank 4.0% 100,000 to 500,000 yuan new VIP banking service customers
For three-month time deposits, in addition to CNCBI’s 4.88% and Fubon’s 4.8%, several banks have prices as high as 4.7%. For example, CCB Asia’s 4.7% is applicable to all customers, with a minimum deposit of NT$1 million of new funds; Chong Hing Bank and Public Bank’s 4.7%, with a minimum deposit of NT$500,000, are both new fund discounts, and the former must be a new customer and complete designated projects, the latter of which requires new funds for mobile banking.
ICBC (Asia) is 4.6%, which is a new customer discount with an upper limit of NT$800,000 and a quarterly interest rate of NT$9,200. This offer was originally scheduled to end in September, but it is unknown whether it will be extended in October.
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Regarding U.S. dollar time deposits, due to high U.S. interest rates, there are currently many three-month deposits with a term of 5% or more. If you have U.S. dollar funds, you may consider:
High-interest U.S. dollar fixed term (3-month deposit period)Bank annual interest rate deposit amount conditions Chong Hing 5.5% 125,000 US dollars need to be exchanged funds CCB Asia 5.25% 400,000 US dollars all customers new funds Dah Hing 5.2% 100,000-500,000 Hong Kong dollars equivalent new VIP banking service customers ICBC Asia 5.2% New funds from branches of Elite Club customers of US$100,000. Fubon 5.1% new funds from mobile banking US$30,000. New funds from Nanyang Commercial Bank 5.1% equivalent to HK$100,000. New funds from branches.
The last update date of this article: October 2, 2023
More high-interest deposits:
[Time Deposit]12-month interest rate is 4.8% and the interest rate reaches the top of $24,000｜Virtual Silver 2-year term is 4.4%
[Time deposit]6-month 4.8%, low threshold 4.6%, note-issuing bank 4.5% become the focus
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2023-10-02 23:48:56
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