▲ Hong Kong dollar time deposit 6.9% is a tax loan discount. Want to simply make a time deposit? Currently, there are two banks with as high as 5.3%, and there are about 10 banks with higher than 5%!
As 2023 enters the last month, although U.S. interest rates may have peaked, the high interest rate environment in Hong Kong may continue for a while longer. Hong Kong dollar time deposits(deposit period of 3 months or above)There is still a maximum of 5.3%, continuing to hit a new high since the beginning of this year.
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 close to 10 banks as members, with a total of 5 deposit terms offering 5%.
The latest Chong Hing Bank has extended the 5.3% discount to December 15, making a quick profit of nearly NT$40,000 in one quarter. The 5.2% discount has been extended to the end of December, regardless of the minimum deposit amount.
Dah Sing Bank’s 3-month deposit terms continue to have 5.3%, while 4-month and 5-month deposit terms also have 5%.
The latest ICBC (Asia) has also increased the new customer discount in December from 4.8% to 5%. The minimum deposit is only NT$100,000, and no high-end financial account is required. The minimum deposit threshold is considered low.
Chiyu Bank has also added a 5% discount for three months, but the minimum deposit amount is NT$3 million in new funds.
Some banks have taken away the 5% discount
Some banks have withdrawn their 5% discount. For example, Overseas Chinese Bank’s 5.3% discount has expired, and the current highest annual interest rate has dropped to 4.65%.
Public Bank also slightly lowered the three-month deposit period by 0.1%, with the current maximum being 4.9%.
Member of “5% Club” (deposit period of 3 months or above) | ||||
bank | annual interest rate | Deposit period | Minimum deposit amount | Remark |
Sosho Bank | 5.3 centimeters | 3 months | 3 million yuan | Branch new funds |
5.2 centimeters | 1 million yuan | |||
5.2 centimeters | 500,000 yuan | Complete designated projects for new customers | ||
5.1 centimeters | 500,000 yuan | Existing customers and existing funds can be opened online | ||
Dah Sing Bank | 5.3 centimeters | 3 months | 100,000 yuan | VIP client new funds |
5.0 centimeters | 4 months, 5 months |
1 million yuan | VIP customers’ existing funds | |
CNCBI | 5.2 centimeters | 3 months | 100,000 yuan | CITIdiamond customer mobile phone new funds (General customers 5.1%) |
Citibank | 5.2 centimeters | 3 months | 50,000 yuan | New Citi Private Client Business Account (General customers’ existing funds are 5%) |
CCB Asia | 5.1 centimeters | 3 months | 1 million yuan | new funds |
Bank of Communications Hong Kong | 5.1 centimeters | 3 months | 1 million yuan | New online funds for designated financial customers |
Toa Bank | 5.05 centimeters | 3 months | 100,000 yuan | New SupremeGold customers |
Shuyu Bank | 5.0 centimeters | 3 months | 3 million yuan | new funds |
ICBC (Asia) | 5.0 centimeters | 3 months | 100,000 yuan | New customer branch new funds |
More than 5 cents is exclusive to large households
CNCBI has recently increased the three-month deposit period to 5.2%. The minimum deposit requirement for new funds is NT$100,000. It must be a CITI Diamond customer, which means the asset value must reach NT$4 million. However, if ordinary customers also have 5.1%, and deposits starting from 10,000 yuan also have 5%, it can be said that it suits all sizes.
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.
CCB Asia has lowered the threshold by 5.1%, from the original 5 million yuan to 1 million yuan, but 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.
Many banks are approaching 5%
After Chong Hing Bank raised interest rates, the high threshold was more than 5%, and the low threshold for deposits starting from 5,000 yuan. For existing customers with existing funds, the three-month deposit period was also 4.95%, approaching 5%.
Chiyu Bank recently increased the amount of new funds of NT$1 million to 4.9%.
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.
4.8% or above, high interest rate than green bonds (3 months deposit period or above) | ||||
CNCBI | 4.95 centimeters | 3 months | 10,000 yuan | General customers and existing funds are opened through electronic channels |
Sosho Bank | 4.95 centimeters | 3 months | 5000 yuan | |
Overseas Chinese Bank | 4.9 centimeters | 6 months | 1 million yuan | New Grand Wealth Financial Management customers have already taken into account the NT$1,250 cash reward |
Shuyu Bank | 4.9 centimeters | 3 months | 1 million yuan | Branch new funds |
public bank | 4.9 centimeters | 3 months | 500,000 yuan | Mobile Banking New Funds |
Fubon Bank | 4.9 centimeters | 3 months | 500,000 yuan | |
Nanyang Commercial Bank | 4.85 centimeters | 3 months | 1 million yuan | New funds for selected NCB Financial Management customers |
Toa Bank | 4.8 centimeters | 6 months | 2 million yuan | New Supreme Private Banking Client |
Skystar Bank | 4.8 centimeters | 3 months | 1000 RMB | Virtual bank, electronic channels only |
Ping An OneConnect | 4.8 centimeters | 4 months | 100 yuan | |
Fuyu Bank | 4.8 centimeters | 6 months | No minimum deposit required | |
Citibank | 4.8 centimeters | 6 months | No minimum deposit required | Open online or mobile banking |
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】
Virtual Bank Fixed Deposit Contest and Merger | ||||
bank | 12-month annual interest rate | 6 months annual interest rate | 3 months annual interest rate | Minimum deposit amount (HKD) |
Fuyu Bank | 4.7 centimeters | 4.8 centimeters | 4.6 centimeters | No minimum deposit required |
Ping An OneConnect | 4.5 centimeters | 4.5 centimeters | 4.8 centimeters (4 months) |
100 yuan |
Skystar Bank | 4.05 centimeters | 4.5 centimeters | 4.8 centimeters | 1000 RMB |
Huili Bank | 4.7 centimeters | 4.0 centimeters | 3.0 centimeters | 10 yuan |
Mox Bank | 4.25 centimeters | 4.6 centimeters | 2.0 centimeters | Additional APR taken into account on new funds |
Zhongan Bank | 3.01 centimeters | 2.51 centimeters | 3.65 centimeters (4 months) |
1 Yuan |
livibank | 3.4 centimeters | 3.0 centimeters | 2.5 centimeters | 200,000 yuan |
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.
Editor in charge: Liao Yiran
The last update date of this article: December 1, 2023
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2023-12-01 12:26:40
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