▲[Blaendal Amser 2024]Huili’s 6 month deposit is 4.5%, the highest in the city! 6 Banks bucked the trend and raised interest rates back to 4% | See the latest January fixed deposits in one article
Entering 2024, as interest rates are expected to peak and fall, the US interest rate hike cycle has been confirmed to be over, there is a greater chance of interest rate cuts this year, and the interest rate time deposits will annual also on one. downward trend.
However, although more than 10 banks have recently reduced deposit interest rates, there will be a new high interest rate of 20% in the city in the new year! This week, many banks bucked the trend and raised interest rates, including Xuyin Huili, which announced today (January 12) that it would increase the deposit period from six months to 4.5%, the highest in the city.
Ping An OneConnect Bank (PAOB) followed suit and increased the deposit term from 4 months to 4.4%, which is also the highest interest rate among the few banks that offer a 4 month deposit term.
Bank increases deposit interest this weekBank Annual Interest Rate Minimum Deposit Period Comments Huili Bank 4.5%
(originally 4.0%) $10 virtual banking for 6 months, electronic channels only;
4.0% for old and new funds
(originally 3.0%) OneConnect Bank 3-month Ping 4.4%
(originally 4.2%) Public Bank 4.6% for $100 in 4 months
(originally 4.4%) 500,000 yuan of new mobile banking funds in 3 months;
Current funds increased to 4.4% and CNCBI 4.35%
(originally 4.05%) New funds of NT$100,000 for mobile phones of CITICdiamond customers in 6 months;
General customers add 4.25% to 4.05%
(originally 3.65%) 100,000 new CITICdiamond customer mobile phone funds for 12 months;
General customers increase to 3.95%; Lung Traders 4.3%
(originally 4.1%) 12 months,
Mobile banking opened 500,000 yuan in 9 months;
Both old and new funds are available: Fu Rong Bank 4.0%
(originally 3.9%) There is no minimum deposit for virtual banking for 6 months, only electronic channels;
ICBC (Asia) 3.9% old and new funds accepted
(originally 3.2%) Online/mobile banking of NT$3 million in 2 months;
3.7% deposit starting from NT$50,000
In the wave of interest rate cuts, some banks have been raising interest rates aggressively. WeLab Bank has increased the deposit period from six months to 4.5%, which is not only the highest in the city, but also the threshold lowest for time deposits.
The 3 month deposit period has increased even more, from 3% to 4%, and the same applies to old and new funds.
- Public Bank 3 months 4.6%
Public Bank’s three-month deposit rate has been raised from 4.2% to 4.4%, and new mobile banking funds are increasing by an additional 0.2%, which is being increased to 4.6%.
- China Merchants Wing Lung 12 months 4.3%
China Merchants Lung Bank’s 12-month and 9-month deposit interest rates have increased to 4.3%, the highest in the city. The minimum deposit is NT$500,000. Existing funds can also be opened, however, the bank has also lowered the 6-month and 3-month interest rates Annual interest rate monthly deposit period.
[Bondiau AA]4.25% will be sold soon. The principle of “attack in advance, retreat can be defended” is more attractive than fixed deposits.
AA Bonds VS Time Deposits
On the other hand, the AA announced the issuance of retail bonds last Friday, with an annual interest rate of 4.25%. As for the entrance fee of NT$10,000, it is similar to the interest rate of a time deposit with a similar threshold. Moreover, this batch of retail bonds has a term of up to In 2.5 years, it is rare to be able to lock in a high interest rate of 4% for 2 and a half years amid expectations of interest rate cuts.
However, retail bonds can be “competitive”, and the number of winners depends on the actual number of participants. Assuming 10 lots are drawn, the principle is only NT$100,000, and the term is as long as 2.5 years, which may not be the case. be suitable for large-scale investors Readers who have a large amount of capital and want to roll over in the short term.
A comparison of the pros and cons of retail bonds VS time deposits AA Hong Kong Dollar Retail Bond Deposit Time Annual Interest Rate 4.25% 5% Entry Fee NT$10,000 NT$100,000 Hong Kong ID Card Holding Threshold 5% Required for New Customers Tenor 2.5 Years 3 Months Dividends will be paid after maturity each quarter Advantages of collection interest: low threshold, large long-term principal, short-term interest collection, extreme risk, lack of AA, bank failure
- Retail bonds: Suitable for anyone to participate, you can lock in a high interest rate of 4.25% for a longer period, but the principal may be limited
- Time deposits: more suitable for large amounts of principal, locking in a high interest rate of 5% in a short period of time, high flexibility but difficult to lock in the long term
Triple surprise deposit time 20% registration point? Is 5% better than buying bonds?
10 banks with prices above 4.5% have options of 5%.
The following lists the deposit terms of 3 months, 6 months and 12 months. Hong Kong dollar time deposits above 4.5% are still provided by 10 banks. They are mainly 3-month deposit terms, except for short-term deposit terms of 1 month or 1 week. , There are also options 2 5 cents.
3 month deposit period – many high interest rates still over 4.5%Bank Annual Interest Rate Minimum Deposit Amount Notes ICBC Asia 5.0% 100,000-800,000 Branch New Customers New Funds Citibank 5.0% 50,000 New Customers Citi Private Client Business and Designated Products Holding Fubon Bank Balance 4.8% 50 10,000 new mobile money banking from new bank funds of Hong Kong Communications 4.7% 1 million yuan new online funds for designated financial customers Bank of East Asia 4.6% 100,000 yuan for new Supreme Financial customers Nanyang Commercial Bank 4.6% 1 million yuan for selected Financial Customers Nanyang branch new funds information International Bank 4.6% NT$100,000 New funds CITI diamond customer mobile phone OCBC Bank 4.6% NT$100,000 Hongfu Financial Management customers new funds Chiyu Bank 4.55% NT$1 million opened with new funds in ICBC Asia branch 4.55%
(98 days) NT$800,000 Elite Club Customers Branch Lung Wing Traders New Fund 4.55% NT$500,000 Mobile Banking Opens6 month deposit period – retreat to 4.5%Nanyang Commercial Bank 4.5% 1 million yuan for selected customers Nanyang Wealth Management new funds branches Huili Bank 4.5% 10 yuan virtual bank, electronic channel only
Old and new funds can be opened with Wing Lung mobile banking 4.45% NT$500,000
ICBC (Asia) 4.4% old and new funds accepted
(188 days) 3 million yuan of new money from the Elite Club customer branches12 month deposit period – reduced to 4.3%Fubon Bank 4.3% 500,000 yuan new mobile banking funds Nanyang Commercial Bank 4.25% 1 million yuan new funds for selected customers NCB Public Bank 4.2% 500,000 yuan new mobile banking funds
Backed to 4.3% in 12 months
- Recently, Nanyang Commercial Bank lowered its deposit interest rate, with the 12-month deposit rate closing at 4.55% to 4.25%, which is no longer the highest in the city.
- The deposit period decreased from 12 months to 4.3%, provided by Fubon Bank and China Merchants Wing Lung.
- After China Merchants Wing Lung cut interest rates, the highest 6-month deposit period was 4.5% of NCBs.
- There are still two 5% options for 3 month deposits, but both are new customer discounts. The highest discount for existing customers is 4.8% from Fubon.
In an environment of uncertain economic outlook, although the fixed deposit interest rate has fallen, 4% is still a good conservative yield. There is no need to worry about price fluctuations. If you stick to the guaranteed interest rate of more than 4%, you have no other choice.
Surprised: Earn over $3,000 at 20% in one month
Virtual banks are offering generous benefits amid the interest rate cut. ZA Bank’s Hong Kong dollar time deposits have hit a new high of 20% per month, but conditions are not easy:
- Need to register in APP first
- Need to maintain at least NT$1 million in eligible new funds
- Eligible new funds refer to the increase in the total Hong Kong dollar current savings account balance at the end of each day compared to its end-of-day balance on 27 December 2023
- A new fund balance needs to be maintained for 58 days
If the above conditions are met, the user can get a 1-month Hong Kong dollar fixed deposit interest rate coupon of 19.9%, which together with the base interest rate is 20%.
- Please note that the interest rate coupon only applies to time deposits up to NT$200,000.
- Based on the calculation of 200,000 yuan and 20%, you can quickly earn about $3,300 in interest in one month.
How long will the high interest rates on time deposits last? Standard Chartered: If the US cuts interest rates by more than 1% next year, Hong Kong interest rates will follow suit this month
Check out the options with the highest interest rates for each deposit period
- 12 months: Fubon Bank and China Merchants Wing Lung have the highest deposit of 4.3% Both have a minimum deposit of NT$500,000. Both are mobile banking discounts If Fubon needs new money, Wing Lung CMB can receive money old or new.
- 9 months: Very few banks offer 9 month discounts CMB Wing Lung offers 4.3%, with a minimum deposit of NT$500,000 It’s a mobile banking discount, and old and new funds are available.
- 6 months: Nanyang Commercial Bank and Huili Bank had 4.5%. NCB needs 1 million yuan in new funds, and must be a specially selected NCB financial management customer; Huili accepts old and new funds, with a minimum deposit of 10 yuan.
- 3 months: ICBC (Asia) and Citibank have 5% new customers.
- 2 months: Fubon Bank provides 4.7%, requests 500,000 yuan of new funds, and opens through mobile banking.
- 1 month: Zhongan Bank 20%, but it is necessary to maintain a current current fund balance of 1 million yuan.
- 1 week: HSBC 13%, exchange required for Premier customers.
Date this article was last updated: January 12, 2024
Editor in charge: Liao Yiran
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