What is the best interest rate for time deposits?A new high of 5.1% for existing funds and 2 options for new funds at 5.3% (with the highest interest rate options for different deposit periods) – Hong Kong Economic Daily – Financial Management – Interest Rate Collection Strategy

Is the interest rate likely to peak in the short term? Hong Kong banks’ war for deposits has escalated again recently.New funds 5.3 rinnew highs,Existing funds 5.1%Breaking the top, there are at least 4 deposit periods reaching the 5% level. However, long-term interest rates still have not returned to 5%, and interest rates were cut today, reflecting the market’s focus on short-term funds. The picture shows the highest interest rate options for different deposit periods:

▼Click on image to enlarge

Recently, there have been many regular promotions of high interest rates, but readers who inquire about them are often disappointed because these offers either require new customers or new funds. For example, OCBC Bank’s 5.3% and Dah Sing Bank’s 5.3% both require new funds from designated financial customers; Chong Hing 5%, Citigroup 5% or BEA 4.95% need to be new customers before they can be opened.

[Time Deposits]Has the interest rate really peaked?1-year 5.3% HSBC and Hang Seng both have 5%

The following is an introduction to you with the highest interest ratesFixed deposit of existing fundsthe current annual interest rate for existing customers and existing funds is not inferior to that of new funds, with a maximum of 5.1% in Hong Kong dollars:

Hong Kong dollar existing funding discount

Existing funds return to the 5% low threshold of 4.8%

Banks are scrambling for short-term deposit funds. Dah Sing Bank is raising interest rates today, bringing the annual interest rate on existing funds to a maximum of 5.1%, with a three-month deposit period. However, the threshold is not low. Firstly, it requires VIP bank customers, and secondly, the minimum deposit amount is required. To reach 1 million yuan. However, if there are 200,000, the bank also provides 4.9%.

CNCBI’s 3-month deposit existing funds has been recently increased to 4.95%, but it must be a CITICdiamond customer. If it is a general customer, the existing funds can be up to 4.85%.

The lower threshold is Chong Hing Bank’s “Cloud Interest Rate” discount. You need to open online or mobile banking, with a minimum deposit of NT$500,000, and a three-month deposit period of up to 4.9%. If the minimum deposit is 5,000 yuan, there is still 4.75%.

For the lowest threshold, you can pay attention to virtual banks. Ping An OneConnect’s recent 12-month, 6-month and 4-month rates are 4.8%. The minimum deposit is only 100 yuan, and both old and new funds are accepted.

Other virtual banks are competing for longer deposit terms. The 12-month deposit terms of Huili Bank and Fulong Bank are both 4.7%. They also have low minimum deposit amounts and can be opened with existing funds.

[High Interest Rate Strategy]Want to earn 5% interest every month?Passive income relies on these two tricks

New funds 5.3 rin

In terms of new funds, there has been a new high of 5.3% recently. There are two options. One is Overseas Chinese Bank’s new fund discount for financial customers, with a 168-day deposit period of 5.3%; in addition, Dah Sing Bank’s VIP financial customers, starting from 100,000 yuan. The deposit is also 5.3%. CCB Asia and CNCBI International have a 5% discount for large millionaire accounts. In terms of long-term interest rates, 12-month new funds saw interest rate cuts today, from 4.8% to 4.6%. Details of the new funding are as follows:

Hong Kong Dollar New Fund Offer

If you want to doNew Funding Offerand due to limited funds, consider“How to Make Your Own New Funds”see details:Earn the magic weapon of high-interest fixed deposit to make your own new funds. You must know it.

The last update date of this article: November 22, 2023

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