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High-Interest Time Deposit Options in Hong Kong: Up to 6% for 3 Months and More!

▲ A time deposit of RMB 100,000 in principal, with a 3-month deposit period of up to 6%, is a brand new customer offer of ICBC (Asia). Maximum 4.35% for 6 months, provided by OCBC Bank.

U.S. interest rates are expected to remain high. Although Hong Kong dollar time deposits have been on a wave of interest rate cuts recently, some banks have bucked the trend and raised interest rates. The minimum threshold for deposits is NT$1,000, and the savings for a three-month deposit period are astonishingly 6%!

Many time deposit discounts have high thresholds, but if the principal is only NT$100,000, there are many high-interest options:

  • With a principal of NT$100,000 and a 3-month deposit term of up to 6%, it is a brand new customer benefit of ICBC (Asia).
  • The 6-month deposit period is up to 4.35%. It is not limited to financial customers. The refund of AA bonds can also be issued, and the half-year interest rate is nearly $2,200.
  • The maximum 12-month deposit period is 4.05%, and only one bank offers 4%.

The following two simple tables are divided into new and old funds, both based on a principal of 100,000 yuan. Table 1 is the discount for new funds, and Table 2 is for both old and new funds.

Table 1: Annual interest rate of new funds (deposit amount: 100,000 yuan)Bank 12-month annual interest rate 6-month annual interest rate 3-month annual interest rate remarks ICBC (Asia) 3.7% 4.15%
(188 days)6.0 centimeters6% required for new customers Citibank 3.2% 3.4% 5.0% 5% required for new private client business accounts OCBC 3.8%4.35 centimeters4.5% New Funds for Grand Wealth Financial Services Bank of East Asia 3.95% 4.25% 4.4% New Supreme Financial Services Customers Dah Sing Bank/4.0% 4.3% New Funds for New VIP Customers CNCBI4.05 centimeters4.25% 4.25% CITICdiamond Customer Mobile New Fund Nanyang Commercial Bank 3.75% 4.1% 4.25% Personal Customer New Fund DBS Bank 3.85% 4.2% 4.15% Online/Mobile Banking New Fund Public Bank 3.85% 4.05% 4.05% Mobile Banking New Fund Mox Bank 3.4% 3.9% 2.0% Virtual bank, only electronic channels Standard Chartered Bank 3.4% 3.7% 3.8% Online New Funds BOC Hong Kong 3.4% 3.7% 3.8% Online or mobile banking New Funds HSBC/3.7% 3.8% Premier Banking Premier or Premier customers,
Other customers 0.3% lower Hang Seng Bank/3.7% 3.8% online new funds

Table 2: Annual interest rate of existing funds (deposit amount: 100,000 yuan)Bank 12-month annual interest rate 6-month annual interest rate 3-month annual interest rate remarks Chong Hing Bank 2.7% 3.1% 4.25% Online banking/mobile banking CNCBI 3.95% 4.2% 4.2% CITICdiamond customer mobile opening Bank of Communications Hong Kong 3.8% 4.2 %4.1% Personal customers open through electronic channels Nanyang Commercial Bank 3.65% 4.0% 4.15% Online/Mobile Banking Current Funds DBS Bank 3.8% 4.15% 4.1% Online/Mobile Banking Current Funds Star Bank 3.8% 4.1% 4.1% Virtual bank, only electronic channel Huili Bank 3.8% 4.1%
(7 months) 3.8% Virtual Bank, only electronic channels Fulong Bank 3.5% 4.1% 4.1% Virtual Bank, only electronic channels ICBC (Asia) 3.7% 4.0% 4.1% Individual customers open China Merchants Wing Lung 3.8% via online or mobile banking 4.05% 4.05% Mobile banking opening Bank of East Asia 3.65% 3.95% 4.05% General customers’ existing funds online Ping An OneConnect 3.8% 3.8% 4.0% Virtual banking, only electronic channels

  • 4.35% refund discount with 2 days left

Oversea-Chinese Bank’s six-month deposit period is 4.35%, which is the highest interest rate for half-year Hong Kong dollar time deposits among the principal of 100,000 yuan. This offer was originally for new funds of financial management customers, but on or before February 16, it will be offered by machine. This annual interest rate is also available if the Authority’s bonds are issued with a refund discount.

The bank’s 3-month deposit term also has a 4.5% interest rate option, which is the highest interest option among existing customers. It is also applicable to the AA bond refund discount.

Open a Hong Kong dollar time deposit with 100,000 yuan of new funds, and the high interest rate is mainly to attract new customers, like ICBC (Asia)’s 6% for 3 months, with a minimum deposit of 1,000 yuan and a maximum deposit of 100,000 yuan, which is an “e-account opening” The offer is for new personal customers to open via mobile banking “e-time deposit”.

If you open a general integrated account at a branch, ICBC (Asia) also offers a three-month interest rate of 4.7%. Although the annual interest rate is lower, the deposit limit is NT$800,000, and the actual amount of interest earned is more.

As for Citi’s new private client business account (asset value of NT$8 million) discount, 5% for 3 months will continue to be available in February.

If you want to simply open one with existing funds, you can pay attention to Chong Hing Bank. The 3-month deposit term is 4.25%, and the minimum deposit is only NT$5,000.

The current funds with a six-month deposit period are the highest at 4.2% for CNCBI and BoCom Hong Kong. The former requires a financial management customer, while the latter does not require a financial management customer.

With a principal of 100,000 yuan and a 12-month deposit period, there is only one 4% option left, which is CNCBI’s 4.05%. However, it is suitable for new mobile funds of CITICdiamond (asset value 4 million yuan) customers, and ordinary customers also fall short of 4%. .

For general customers and existing funds, the 12-month deposit period is mostly 3.8%. For example, DBS, CMB Wing Lung, Bank of Communications Hong Kong and a number of virtual banks such as Huili, Ping An OneConnect and Tianxing, the long-term interest rate is 3.8%. centimeters.

The last update date of this article: February 15, 2024

Editor in charge: Liao Yiran

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2024-02-15 11:54:52
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