2023-07-07 14:51:26
Entering July, although the half-year end has passed, the time deposit has reached a high level again. Although Fubon withdrew the 3-month 4.5% discount, OCBC Bank (formerly known as OCBC Wing Hang) extended the 388-day deposit discount and increased it to 4.5%. The deposit threshold has been lowered from 200,000 yuan to 100,000 yuan.
The bank’s 6-month deposit period also increased to 4.25%, which is also a top-breaking level.
Public Bank raised interest rates on Friday, and the 12-month deposit period is 4.2%, which is a breaking level.
Nanyang Commercial Bank also raised interest rates this week, and 4.3% in three months is a high level in the market.
The highest interest rate of 20% in the city of CCB Asia continued until the end of September, and the high interest rate of 4% in East Asia also continued, but the latest interest rate was reduced. Take a look at the table below:
July high-interest fixed deposit offer
OCBC breaks 4.5% top
Bank Deposit period Annual interest rate Admission fee OCBC Bank 388 days 4.5% 100,000 yuan (designated wealth management customers); 500,000 yuan (general personal customers) 288 days 4.35% 6 months 4.25%
Nanyang Commercial Bank adds up to 4.5% bank deposit period annual interest rate admission fee Nanyang Commercial Bank 218 days 4.08% (expired) 1 million yuan 3 months 4.3% (newly launched) 1 million yuan (designated wealth management customers) 6 months 4.15% (Newly launched) 4.0% for 12 months (Newly launched)
CCB Asia extended 20%
Bank Deposit period Annual interest rate Admission fee CCB Asia 1 week 20% (continuation) 500,000 yuan 3 months 4.4% (continuation) 1 million yuan (new customer) 1 month 3.5% (continuation)
Public Bank 4.2%
Bank Deposit period Annual interest rate Admission fee Public Bank 12 months, 6 months, 3 months 4.2% (rate increase on July 7) 500,000 yuan 4.1% (rate increase on July 7) Below 100,000 yuan
Bank of East Asia extends 4.4%
Bank Deposit period Annual interest rate Admission fee Bank of East Asia 3 months 4.2% (interest reduction) 2 million yuan (new customers) 6 months 4.1% (interest reduction) 12 months 4.0%
Fubon’s 4.5% high interest rate has expired
Bank Deposit Period Annual Interest Rate Admission Fee
Chong Hing 4.4% high interest rate off the shelves
Bank Deposit period Annual interest rate Admission fee Chong Hing 3 months 4.4% (due) 3 million yuan 3 months 4.2% (new customer) 500,000 yuan
Overseas Chinese Bank 4.5 cents︰For the new fund discount for Hongfu wealth management customers, the 388-day deposit period is increased from 4.38% to 4.5%, and the minimum deposit threshold is reduced to 100,000 yuan; the 288-day and 6-month deposit periods are also increased to 4.35% and 4.25% respectively. For ordinary customers, deposits of 500,000 yuan can also have the same annual interest rate. With a minimum deposit of 500,000 yuan, you can earn about 23,900 yuan in interest in 388 days, and you can also receive about 10,600 yuan in interest in 6 months.
CCB Asia 4.4%:CCB Asia’s new/upgraded customers open “VIP Jinyu” and “VIP Wealth Management” with a new fund of 1 million yuan, and the 3-month deposit period is 4.4%. If it is the new funds of the above-mentioned existing wealth management customers, depositing 1 million yuan, there will be 4.3% in 3 months.
East Asia 2 million 4.2%:Bank of East Asia’s brand-new Supreme Elite private wealth management customers, and deposit at least 2 million new funds, the 3-month deposit period will be reduced from 4.4% to 4.2%, and the 6-month period will be reduced from 4.2% to 4.1%.
Public Bank 4.2%:Existing funds are also available, 12 months, 6 months and 3 months, the deposit amount of 500,000 yuan is 4.2%, and the 12-month deposit period is the highest interest rate in the market.
Chong Hing 3 months 4.2%:Chong Hing accepts a discount of 4.4% for 3 months, and the current highest is 4.2%, which is a discount for new customers; existing customers open through electronic channels, regardless of new and old funds, 500,000 yuan, deposit for 3 months, 4.15%, $5000 There is also 4 per cent in yuan deposit.
Fubon 4.1%:Fubon has closed the discount of 4.5% for 3 months, and the current highest interest rate is 4.1%. The discount for new funds in mobile banking, with a minimum deposit of 500,000 yuan, is 4.1% for 12 months, 6 months and 3 months.
Other 4% option
Excluding the 5% high interest rate discounts given to selected customers by major banks such as HSBC, the current deposit period of 3 months or more is the highest at 4.5% for OCBC Wing Hang, followed by 4.4% for CCB Asia and Bank of East Asia. And, the following is an inventory of other 4% options.
Other members of the “4% Club” (only with a deposit period of 3 months or above)
Bank Deposit period Annual interest rate Admission fee ICBC (Asia) 98 days 4.2% 3 million yuan
(4% for 100,000 yuan) 188 days 4.1% 3 million yuan
(800,000 yuan 4%) CNCBI 6 months, 3 months 4.1% 10,000 yuan China Merchants Wing Lung 9 months, 6 months, 3 months 4.1% 500,000 yuan Bank of Communications Hong Kong 3 months 4.1% 1 million Yuanjiyou 3 months 4.1% 1 million yuan DBS 12 months, 6 months 4.05% 50,000 yuan 4 months, 3 months 4.0% Citigroup 3 months 4.0% 1 million yuan (new customers)
ICBC (Asia) 4.2%:ICBC (Asia) has a 98-day deposit period of 4.2%, with a minimum deposit of 3 million yuan, but also 4.1% for a minimum deposit of 800,000 yuan, and 4% for a minimum deposit of 100,000 yuan.
CNCBI 4.1%:CNCBI has a low threshold of 4%, with a deposit period of 3 months or 6 months, and 4.1% for new funds of 10,000 yuan, which need to be opened in mobile banking.
China Merchants Wing Lung 4.1%:China Merchants Wing Lung has a 9-month, 6-month and 3-month deposit period of 4.1%, with a minimum deposit of 500,000 yuan, and a minimum deposit of 10,000 yuan is also 4.05%.
Bank of Communications Hong Kong 4.1%:Bank of Communications Hong Kong’s designated wealth management account has a deposit amount of 1 million yuan, a 3-month deposit period of 4.1%, and a quarterly earning interest of more than 10,000 yuan; and general personal customers, the minimum deposit of 20,000 yuan is also increased to 3.8%.
Shuyu Bank 4.1 cents:Branches are opened with new funds, over 1 million yuan, 4.1% for a 3-month deposit period.
DBS 4.05%:DBS Bank’s latest 12-month and 6-month deposit interest rate is 4.05%, and the latest 4-month and 3-month deposit interest rate is also increased to 4%. A new fund of 50,000 yuan is enough, and it needs to be opened online.
Citigroup has a high threshold of 4%:Citigroup’s 3-month 4%, although the initial deposit amount is only 50,000 yuan, but you need to be a new customer of Citigold and hold a designated product balance, the actual threshold is not low.
Low threshold 4% choice
Recently, the low threshold of 4% has gradually increased, and the highest is still in East Asia. Newly designated account customers start at 4.15% for deposits starting from 20,000 yuan. After DBS increases deposit interest, deposits starting at 50,000 yuan will be 4.05%, and deposit periods of 4 months and 3 months will also be increased to 4%; China Merchants Wing Lung deposits starting at 10,000 yuan, and deposits will be 4.05% for 3 to 9 months:
4% option with low threshold
Bank admission fee Annual interest rate Deposit period East Asia 20,000 yuan (new customer) 4.15% 3 months 4.05% 6 months Public Bank 100,000 yuan or less 4.1% 12 months, 6 months, 3 months CNCBI 10,000 yuan 4.1% 6 months, 3 months CMB Wing Lung 10,000 yuan 4.05% 9 months, 6 months, 3 months DBS 50,000 yuan 4.05% 12 months, 6 months 4.0% 4 months, 3 months Chuangxing 5,000 yuan (new and old funds are acceptable) 4.0% for 3 months
CCB earns 2000 yuan a week at 20%
In terms of welcome offers, CCB Asia is the most exaggerated, with a time deposit annual interest rate as high as 20%! The initial deposit amount is 500,000 yuan, and the deposit period is 1 week. You can earn about 1,918 yuan in 1 week in Hong Kong dollars, US dollars or RMB. But it is not easy to earn high interest rates, this offer has the following conditions:
To be a new CCB Asia “VIP Select” or “VIP Banking” customer, the average daily balance of the two accounts must be HKD 5 million and HKD 1 million respectively. Required to subscribe for designated investment products, such as funds, bonds or structured stock-linked fishing products.Subscription products must reach HK$500,000 or above
In other words, the threshold for earning this discount is 1 million yuan, because you must deposit at least 1 million yuan of new funds to become a new CCB Asia customer, and then invest at least 500,000 yuan in products to open the same 500,000 yuan 20% time deposit.
DBS 10% earn nearly 1,000 yuan a week
DBS Bank will renew the 10% higher interest rate in July, but the threshold is not low. You need to be a wealth management customer and subscribe to designated investment products at the same time. If the deposit amount of 500,000 yuan is calculated, 10% a week can make a quick profit of about 960 yuan.
Note-issuing banks join the battle
The three major note-issuing banks participated in the time deposit rate increase war, HSBC up to 5%, Bank of China Hong Kong and Standard Chartered Bank both exceeded 4%, but they are only limited to selected customers or designated wealth management customers:
Discounts for Selected Customers of Major Banks
Bank 12-month annual interest rate 6-month annual interest rate 3-month annual interest rate Initial deposit HSBC 4.91% 4.97% 5.0% 500,000 yuan Standard Chartered / 4.4% 4.4% 100,000 yuan Bank of China Hong Kong 4.0% 4.1% 4.1% 10,000 yuan
However, the above are only for selected customers. If no invitation is received, the prices for general customers of the three major note-issuing banks are as follows:
Discounts for non-selected customers of major banks
Bank 12-month annual interest rate 6-month annual interest rate 3-month annual interest rate Initial deposit HSBC / 3.4% 3.3% 10,000 yuan Standard Chartered 3.4% 3.4% 3.3% 10,000 yuan Bank of China Hong Kong 3.4% 3.4% 3.3% 10,000 yuan
If you are not a selected customer, the fixed deposit discounts of large banks are not as good as other banks.
Date this article was last updated: July 6, 2023
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