Another bank raised the annual interest rate of Hong Kong dollar time deposits to absorb funds! According to comprehensive market data, there are currently 4 traditional banks with fixed deposit annual interest rates of 5% or more. Among them, Chong Hing Bank has also joined the ranks of “gold-absorbing” banks. The bank’s 12-month Hong Kong dollar fixed deposit annual interest rate was further raised to 5.05% yesterday. The fee is 500,000 yuan, that is, the annual interest is 25,250 yuan, the maximum deposit amount is 50 million yuan, and the 1-year interest is 2.525 million yuan.
3-month fixed deposit interest is also 4.75%
In addition, the highest annual interest rate for Hong Kong dollar time deposits opened by the bank is 4.75% and 4.85% for 3 months and 6 months, respectively, and 4.95% for 9 months. The bank also pointed out that as of the end of this year, through its mobile wealth management mobile app, successfully opened for 3 months or 6 months in a single transaction, with a deposit amount of 200,000 Hong Kong dollars or 20,000 U.S. dollars or more, one chance to win a lucky draw, Stand a chance to win smartphones, other gifts and more.
As for banks with fixed annual interest rates of 5% or more, they include OCBC Wing Hang Bank, Fubon Bank and CCB Asia. OCBC Wing Hang pointed out that the maximum annual interest rate for opening a 12-month Hong Kong dollar time deposit is 5%, and it needs to be exclusively for the bank’s wealth management customers, and it should be opened with new funds. In terms of the minimum deposit amount, existing customers of wealth management or existing customers can upgrade to Wealth management customers need to be 200,000 yuan or more, and new wealth management customers have a deposit of 1 million yuan or more. The 3-month and 6-month annual interest rates are 4% and 4.5% respectively.
Opening a 12-month Hong Kong dollar fixed deposit with Fubon Bank has a maximum annual interest rate of 5.1%, while the annual interest rate for 3-month and 6-month deposits is 4.6% and 4.9% respectively, and 9-month is also 5%. According to its website, it needs to be opened with new funds, and the admission fee is 1 million yuan or more.
In addition, CCB Asia pointed out that the maximum annual interest rate of fixed deposits is 5%, which is applicable to customers who have newly opened “VIP Elite” and “VIP Wealth Management” and new funds, and the admission fee is also 1 million yuan.
Originally published on AM730 https://www.am730.com.hk/Finance/Finance/4 Bank Fixed Deposit Interest 5% or more – Chong Hing 500,000 admission – annual income 25,000 / 349190?utm_source=yahoorss&utm_medium=referral
Further reading:Is the interest rate of Hong Kong dollar fixed deposits much higher than the highest interest rate of the border banks?