2023-12-01 12:26:40
▲ Hong Kong dollar time deposit of 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 regarding 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Some banks have withdrawn their 5% discount.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 Remarks Chong Hing Bank 5.3% 3 months 3 million yuan branch new funds 5.2% 1 million yuan 5.2% 500,000 yuan new customers completed designated projects 5.1% 500,000 yuan existing customers, existing funds Open Dah Sing Bank online for 5.3% in 3 months, 100,000 yuan VIP customer new funds at 5.0% for 4 months,
VIP customer’s existing funds of 1 million yuan in 5 months CNCBI 5.2% 100,000 yuan in 3 months CITIdiamond customer’s new mobile phone funds
(General customers 5.1%) Citibank 5.2%
NT$50,000 new Citi Private Client Business Account for 3 months
(Existing funds of general customers are 5%) CCB Asia 5.1% New funds of NT$1 million in 3 months Bank of Communications Hong Kong 5.1% New funds of designated financial customers online of NT$1 million in 3 months Bank of East Asia 5.05% New funds of NT$100,000 in 3 months New display Premier Wealth Management customer Chiyu Bank 5.0% new funds of NT$3 million in 3 months ICBC (Asia) 5.0% NT$100,000 in 3 months 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% for general customers with NT$10,000 in 3 months and existing funds opened through electronic channels; Chong Hing Bank 4.95% for 3 months for NT$5,000; OCBC Bank 4.9% for 6 months and NT$1 million for new Hong Kong wealth management customers, already taken into account 1,250 yuan cash reward Chiyu Bank 4.9% 3 months 1 million yuan branch new funds Public Bank 4.9% 3 months 500,000 yuan new mobile banking funds Fubon Bank 4.9% 3 months 500,000 yuan Nanyang Commercial Bank 4.85% 3 NT$1,000,000 monthly new funds for selected NCB Financial Management customers; NT$2,000,000 for new Supreme Private Financial Management customers, NT$2,000,000 for 6 months; NT$1,000, NT$3,000; NT$1,000 for 3 months; NT$4,800; NT$4.8%; NT$1,000; NT$1,000 for 3 months; only electronic channel; Ping An OneConnect; NT$4.8%; 4 100 yuan per month Fulong Bank 4.8% for 6 months No minimum deposit required Citibank 4.8% No minimum deposit required for 6 months 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 MergerBank 12-month annual interest rate 6-month annual interest rate 3-month annual interest rate Minimum deposit amount (Hong Kong dollars) Fulong Bank 4.7%4.8 centimeters4.6% No minimum deposit required Ping An OneConnect 4.5% 4.5%4.8 centimeters
(4 months)100 yuan from Tianxing Bank 4.05% 4.5%4.8 centimeters1,000 yuan Huili Bank 4.7% 4.0% 3.0% 10 yuan Mox Bank 4.25% 4.6% 2.0% Taking into account the additional annual interest rate of new funds Zhongan Bank 3.01% 2.51% 3.65%
(4 months) 1 yuan livibank 3.4% 3.0% 2.5% 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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