What is the best interest rate for time deposits?Existing funds are as high as 5%, and new funds are 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? The rush for deposits among Hong Kong banks has escalated again recently, with new funds reaching a record high of 5.3% and existing funds also reaching a record high of 5.3%. However, although many deposit terms are currently as high as 5%, long-term interest rates have still not returned to 5%, reflecting the market’s concentrated competition for short-term funds. The picture shows the highest interest rate options for different deposit periods:

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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%, Dah Sing Bank’s 5.1% and Fubon’s 5% all require new funds; Chong Hing 5%, Citigroup 5% or East Asia’s 4.95% require new customers.

[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% for Hong Kong dollars:

Hong Kong dollar existing funding discount

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

Banks are rushing to attack short-term deposit funds. Dah Sing Bank’s current funds are up to 5%, with deposit terms of 3 months, 4 months and 5 months. All of them have 5%, but the threshold is not low, and you need to be a VIP. For bank customers, the minimum deposit amount must 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%.

There is also Fubon Bank with a high threshold, which is 4.9% for 3 months. It requires a principal of 1 million yuan and is opened through mobile banking.

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, please pay attention to virtual banks. Ping An OneConnect has recently increased the 12-month, 6-month and 4-month deposits to 4.8%. The minimum deposit is only 100 yuan, and both new and old 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.

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New funds 5.3 rin

In terms of new funds, a new high of 5.3% has been reached recently, which is a new fund discount for OCBC Bank’s financial customers. Dah Sing Bank’s financial customers also have a whopping 5.1%. CCB Asia and CNCBI International have a 5% discount for large millionaire accounts. Details of the new funding are as follows:

Hong Kong Dollar New Fund Offer

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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 21, 2023

More high-interest deposits:

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