▲ The current maximum interest rate for six-month Hong Kong dollar time deposits is still 4.4%, and 17 banks still have high interest rates above 4%.
Federal Reserve Chairman Powell has made it clear that it is not appropriate to cut interest rates in March, and most markets estimate that the rate cut will be postponed to the middle of the year, or even in the second half of the year. Therefore, the interest rate in the next half year is expected to remain at a high level. The current maximum for six-month Hong Kong dollar time deposits is still 4.4%, and 17 banks still have high interest rates above 4%.
- The maximum 6-month Hong Kong dollar time deposit is 4.4%. The minimum deposit of new funds is NT$1 million, and the half-year interest rate is $22,000.
- Low threshold 4.2%, existing funds can be opened
- The highest 6-month U.S. dollar fixed deposit rate is 4.9%, and many banks are still close to 5%.
Please pay attention to the refund of 6-month high-interest “three-run bonds”
The retail bonds issued by the AA have been allocated. Each person can only receive a maximum of 3 lots. The actual interest earned on the NT$30,000 principal is not much. However, if there is a large refund, you can pay attention to the 6-month Hong Kong dollar time deposit. Nanyang Commercial Although the bank has cut interest rates this week, it is still as high as 4.4%. With a minimum deposit of NT$1 million in new funds, the interest rate for half a year is $22,000. The return is better than the AA’s “three running bonds”.
In fact, despite the recent wave of interest rate cuts on time deposits, 17 banks still have interest rates of 4% or above for six-month deposit terms. Please see the table below for details:
6-month Hong Kong dollar time deposit
(4cm or more)Annual interest rate on bank new funds Deposit amount Nanyang Commercial Bank 4.4% 1 million yuan (selected financial management customers) CNCBI 4.35% 100,000 yuan (financial management customers) Bank of East Asia 4.35% 2 million yuan (new financial management customers) Overseas Chinese Bank 4.35% 10 RMB 10,000 (refund of three run-off debts) ICBC (Asia) 4.3%
(188 days) NT$3 million (financial management customers) CMB Wing Lung NT$4.25 NT$5 million (mobile banking) Chiyu Bank NT$4.25 NT$1 million (branch new funds) Bank of Communications Hong Kong NT$4.22 million (electronic channels for general customers) Star Development Bank 4.2% 50,000 yuan (electronic channel new funds) China Construction Bank Asia 4.1% 1 million yuan (new funds) Public Bank 4.1% 500,000 yuan (mobile banking) Fulong Bank 4.1% No minimum deposit amount (existing funds ) Dah Sing Bank 4.0% NT$100,000 to NT$500,000 (new financial management customers) Skystar Bank 4.0% NT$1,000 (existing funds) Fubon Bank 4.0% NT$500,000 (mobile banking) Mox Bank 4.0% NT$1 (new funds) )
Not shown in the above table are four large banks, including the three major note-issuing banks, which have recently reduced the six-month deposit period to less than 4%. Currently, HSBC, Hang Seng and BOC Hong Kong all have a maximum of 3.7%, while Standard Chartered’s is 3.9%.
High-interest discounts often require new funds, and existing funds can also be as high as 4.25%, which is a discount offered by Merchants Wing Lung, but the minimum deposit must reach 5 million yuan, which is obviously designed to attract large investors.
If you want to lower the threshold, Bank of Communications Hong Kong offers discounts through electronic channels, with a minimum deposit of NT$20,000 and a 6-month deposit period of 4.2%.
DBS Bank’s minimum deposit is NT$50,000, with 4.2% for new funds and 4.15% for existing funds. It is also a better choice, and it also needs to be opened through electronic channels.
Virtual banks have the lowest thresholds, with Fulong Bank and Skystar Bank having 4.1% and 4% respectively, and the minimum deposit threshold is as low as zero yuan.
6-month USD fixed deposit 4.9%
The interest rates on U.S. dollar time deposits have also been reduced. Currently, the six-month deposit period has dropped to 5% across the board, but the highest interest rate is still 4.9%, which is higher than the interest rate on Hong Kong dollar time deposits. Readers with U.S. dollar deposits should make arrangements before the U.S. interest rate cuts.
High interest dollar term
(6 months deposit period)Bank annual interest rate, deposit amount conditions, Nanyang Commercial Bank 4.9%, equivalent to HKD 100,000, new funds for selected financial management customers, CNCBI 4.9%, US$10,000, CITIC Diamond customer mobile phone new funds, Bank of East Asia 4.8%, equivalent to HKD 2 million, new Supreme Private Financial Management Customer Fubon Bank 4.8% USD 30,000 Mobile Banking New Funds ICBC Asia 4.8%
(188 days) $100,000 in new branch funds
The last update date of this article: February 9, 2024
Editor in charge: Liao Yiran
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2024-02-10 05:40:20
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