Fixed Deposit Strategy | Year-end Approaches, Interbank Rates Rise, Multiple Hong Kong Banks Raise Fixed Deposit Rates, 12-Month Term Increased by 0.03%

【Time Deposits/Fixed Deposits/High-Interest Fixed Deposits】 As the month-end and year-end approach, the Hong Kong dollar interbank offered rate (Hibor) has rebounded, with the 1-month Hibor rising nearly 0.7 basis points to 3.18 basis points. Consequently, some local banks in Hong Kong have also seen an upward trend in their Hong Kong dollar fixed deposit interest rates, including Mox Bank, Fubon Bank, Dah Sing Bank, Chiyu Bank, China Citic Bank International, and Tianxing Bank. As for banks currently offering higher interest rates, PAObank, OCBC Bank, and Fusion Bank continue to provide a fixed deposit promotion of 3 basis points for 3 months; if you wish to take on a longer term, Mox offers fixed deposits of 12 months and 36 months, both at 3 basis points. Comparison of Fixed Deposit Interest Rates｜Which Bank Offers Higher Fixed Deposit Interest? ．PAObank 3-Month 3 Basis Points PAObank's 3-month Hong Kong dollar fixed deposit interest rate has slightly decreased from 3.1 basis points to 3 basis points, while the 6-month and 12-month rates are 3 basis points and 2.7 basis points, respectively, with a minimum deposit of HKD 100, and no restrictions on new or old funds. For US dollar fixed deposits, the bank offers the same interest rate of 3 basis points for 3, 6, and 12 months. ．OCBC Bank 3-Month 3 Basis Points OCBC Bank's 3-month Hong Kong dollar fixed deposit interest rate is 3 basis points, with rates for 1 month, 6 months, and 12 months at 2 basis points, 2.8 basis points, and 2.6 basis points, respectively, available only to Wealth Management customers, with a minimum deposit of HKD 100,000 in new funds. For general individual customers, the 3-month fixed deposit rate is 2.8 basis points, while the rates for 1 month, 6 months, and 12 months are 2 basis points, 2.68 basis points, and 2.5 basis points, requiring a minimum deposit of HKD 500,000 in new funds. For US dollar fixed deposits, the rates are 3.75 basis points and 3.5 basis points for 3 months and 6 months, respectively, and 3 basis points for 12 months, with a minimum deposit of the equivalent of HKD 100,000 in new funds, but only for Wealth Management customers; for individual customers, the rates for 3 months, 6 months, and 12 months are 3.6 basis points, 3.38 basis points, and 2.9 basis points, respectively. ．Fusion Bank 3-Month Maintains 3 Basis Points Fusion Bank's existing customers enjoy a 3-month Hong Kong dollar fixed deposit interest rate of 3 basis points; the rates for 6 months and 12 months are 2.5 basis points and 2 basis points, respectively, with a minimum deposit of HKD 1. For US dollar fixed deposits, the bank offers rates of 3.7 basis points, 3.5 basis points, and 3.3 basis points for 3, 6, and 12 months, respectively. Additionally, the bank has launched a "Flash Monday" event offering an annual interest rate of 25 basis points for fixed deposits, where new customers who open an account using the invitation code "FLASH2025" and deposit new funds before December 5 can grab a 14-day Hong Kong dollar fixed deposit promotion at 25 basis points on Mondays, with 1,500 quotas available, each quota being HKD 50,000, and each customer limited to 1 quota. By depositing HKD 50,000, successful account openings can earn HKD 479 in interest. At the same time, the bank offers a 1-month fixed deposit promotion at 7.88 basis points and a 4-month fixed deposit at 3 basis points, each with 20 and 3,000 quotas available, respectively, with each quota being HKD 50,000, and each customer limited to 1 and 60 quotas, applicable to both new and existing customers Mox 12-Month Time Deposit Raised to 3 Cents Mox Bank's 3-month and 6-month Hong Kong dollar time deposit interest rates are 2.5 cents and 2.4 cents respectively, while the 12-month rate has been raised to 3 cents, with a minimum deposit of 1 HKD. Additionally, the bank is one of the few in the market offering 36-month and 48-month Hong Kong dollar time deposits, with interest rates of 3 cents and 2.9 cents respectively. For US dollar time deposits, the bank offers a 1-month rate of 3.25 cents, with 2-month and 3-month rates at 3.3 cents and 3.25 cents respectively, and 6-month and 12-month rates at 3.25 cents and 3.1 cents respectively. Fubon 3, 4, and 6 Months Raised to 2.9 Cents Fubon Bank's 3-month Hong Kong dollar time deposit interest rate has risen weekly to 2.9 cents, with the 4-month and 6-month rates also increasing to 2.9 cents. The 1-month and 2-month rates are 2 cents and 2.6 cents respectively, while the 12-month rate is also 2.6 cents, with a minimum deposit of 500,000 HKD, applicable to both new and existing funds, and must be applied through the Fubon+ mobile app. For deposits between 200,000 and 500,000 HKD, the rates for 3-month, 4-month, and 6-month are all 1.7 cents, while the 1-month and 2-month rates are both 1.4 cents, and the 12-month rate is also 1.4 cents. As for the bank's 3-month US dollar time deposit interest rate, it is 3.9 cents, with 1-month and 2-month rates at 3.75 cents and 3.85 cents respectively, and 4-month, 6-month, and 12-month rates at 3.55 cents, 3.5 cents, and 3.4 cents respectively, with a minimum deposit of 65,000 USD or more. Dah Sing 3 Months Raised to 2.9 Cents Dah Sing Bank's VIP customers now have a 3-month Hong Kong dollar time deposit interest rate raised to 2.9 cents, while the 6-month and 12-month rates remain at 2.8 cents and 2.4 cents respectively, with a minimum deposit of 200,000 HKD; for general customers, the 3-month and 6-month rates are capped at 2.8 cents and 2.7 cents respectively, while the 12-month rate is 2.3 cents, but requires a minimum deposit of 1,000,000 HKD; if the deposit is between 200,000 and 1,000,000 HKD, all terms are 0.1 cents lower. Nanyang Commercial Bank 3 Months Maximum 2.9 Cents Nanyang Commercial Bank offers a maximum interest rate of 2.9 cents for 3-month Hong Kong dollar time deposits, with a minimum deposit of 1,000,000 HKD, applicable to selected wealth management customers; for general wealth management customers, the interest rate is 2.8 cents. The maximum interest rates for 6-month and 12-month deposits are 2.7 cents and 2.3 cents respectively, also available to selected wealth management customers; for general wealth management customers, the rates are 2.6 cents and 2.2 cents. For other customers, the maximum for 3 months is 2.7 cents, with a minimum deposit of 100,000 HKD, while the rates for 6-month and 12-month deposits are 2.5 cents and 2.1 cents respectively. For US dollar time deposits, selected wealth management customers can receive a maximum of 3.75 cents for 3 months, with 6-month and 12-month rates at 3.7 cents and 3.4 cents respectively; for general wealth management customers, the rates for 3, 6, and 12 months are 3.65 cents, 3.6 cents, and 3.3 cents respectively, with a minimum deposit equivalent to 100,000 HKD ．WeLab 6-month fixed deposit drops to 2.88% WeLab Bank's Hong Kong dollar fixed deposit for 3 months decreased from 3% to 2.7%, and for 6 months from 3.05% to 2.88%, while the 12-month rate is 2%. Additionally, the bank offers ultra-long-term fixed deposits for 18 and 24 months, both at a rate of 2%, with a minimum deposit of HKD 10. For US dollar fixed deposits, the rates are 3.5% for 3 months, and 3.41% and 2% for 6 and 12 months, with a minimum deposit of USD 10. ．Chiyu Bank 3-month rate slightly rises to 2.85% Chiyu Bank's 3-month and 4-month Hong Kong dollar fixed deposit rates have been slightly adjusted to 2.85% and 2.8%, respectively, while the 6-month and 12-month rates are 2.5% and 2%, with a minimum deposit of HKD 1 million to HKD 50 million in new funds. If the minimum deposit is between HKD 200,000 and HKD 1 million, the rates for 3, 6, and 12 months are 2.6%, 2.2%, and 1.8%, respectively, and these offers are only applicable at branches. For US dollar fixed deposits, the rates for 3, 6, and 12 months are 3.65%, 3.4%, and 3.1%, with a minimum deposit of USD 125,000 to USD 10 million in new funds. If the minimum deposit is between USD 30,000 and USD 125,000, the rates for 3, 6, and 12 months are 3.35%, 3.2%, and 3%, respectively, also only applicable at branches. ．ICBC Asia 98 days at 2.8% For customers opening or holding ICBC Wealth or Wealth Management accounts at ICBC Asia, and making a new fund deposit in Hong Kong dollar fixed deposits, the rate for 98 days is 2.8%, while the 188-day rate remains at 2.5%, with a deposit amount of HKD 800,000 or more required. For ICBC Wealth, Wealth Management, Wealth e-Generation, or Comprehensive accounts, the deposit amount must be over HKD 100,000, with rates of 2.75% and 2.45% for 98 days and 188 days, respectively. For US dollar fixed deposits, the bank offers rates of up to 3.65% and 3.45% for 98 days and 188 days, with a minimum deposit of USD 100,000 or more; if the minimum deposit is USD 15,000 or more, the rates drop to 3.6% and 3.4%. As for the new ICBC Wealth account, if a deposit of over HKD 3 million is made for a 3-month Hong Kong dollar fixed deposit, the maximum interest rate is 2.9%; for new Wealth Management, Wealth e-Generation, or Comprehensive customers, with a minimum deposit of HKD 100,000 or more, the maximum interest rate for 3 months is raised to 2.85%. ．CITIC International 3-month rate rises to 2.75% CITIC Bank (International) offers new and existing customers a rate of 2.75% for 3-month Hong Kong dollar fixed deposits through the "inMotion" banking platform, up from a maximum of 2.6%, while the 6-month rate is 2.5%, with a minimum deposit of HKD 500,000 in new funds required. If the minimum deposit is HKD 100,000 in new funds, the rates for 3 and 6 months are 2.7% and 2.45%, respectively, while the 12-month rate is 1.6% For existing funds, the interest rates for 3 months, 6 months, and 12 months are 2.6 cents, 2.35 cents, and 1.55 cents, respectively. For USD time deposits, the highest interest rates for 3 months and 6 months are 3.5 cents and 3.35 cents, with a minimum deposit of USD 100,000 in new funds. If the minimum deposit is USD 10,000 in new funds, the interest rates for 3 months and 6 months are 3.45 cents and 3.3 cents, while the 12-month rate is 3 cents; for existing funds, the rates for 3 months, 6 months, and 12 months are 3.4 cents, 3.25 cents, and 2.95 cents, respectively. ．Livi Bank 3-month 2.7 cents Livi Bank's HKD time deposit interest rates for 3 months and 4 months are 2.7 cents and 2.6 cents, while the 6-month rate is 2.3 cents, and the 9-month and 12-month rates are 2 cents, with a minimum deposit of HKD 50,000 or more; if the minimum deposit is between HKD 500 and HKD 50,000, the rates for 3 months and 4 months are 1.1 and 1.2 cents, while the 6-month and 9-month rates are 1.3 cents, and the 12-month rate is 1.6 cents. ．Public Bank 3-month 2.6 cents Public Bank's HKD time deposit for 3 months is 2.6 cents, the 6-month rate is 2.55 cents, and the 12-month rate is 2.4 cents, with a minimum deposit of HKD 500,000, applicable to both new and existing funds, and must be processed through electronic banking. If the minimum deposit is between HKD 100,000 and HKD 500,000, the rates for 3 months and 6 months are 2.55 cents and 2.5 cents, while the 12-month rate is 2.35 cents; if the minimum deposit is between HKD 10,000 and HKD 100,000, the rates for 3 months, 6 months, and 12 months are 2.5 cents, 2.45 cents, and 2.3 cents, respectively. ．Starling Bank 6-month rises to 2.55 cents Starling Bank's HKD time deposit rates for 3 months and 4 months rise to 2.5 cents, while the 6-month, 9-month, and 12-month rates rise to 2.55 cents, with a minimum deposit of HKD 1,000. For USD time deposits, the bank offers rates of 3.1 and 3.15 cents for 3 months and 4 months, while the rates for 6, 9, and 12 months are all 3.25 cents. ．Bank of East Asia 3-month 2.5 cents Bank of East Asia's online HKD time deposit rates for 3 months and 6 months are 2.5 cents and 2.4 cents, respectively, with a minimum deposit of HKD 10,000 in new funds, applicable to Premier Private Banking or Premier Banking clients; for Supreme Banking clients, BEA GOAL, or other personal integrated accounts, the maximum rates are 2.45 and 2.35 cents, respectively. For the 12-month period, Premier Private Banking or Premier Banking clients can get a maximum of 2.2 cents, while Supreme Banking clients, BEA GOAL, or other personal integrated accounts have a rate of 2.15 cents. For USD time deposits, the rates for 3 months and 6 months are 3.4 and 3.2 cents, while the 12-month rate is 2.9 cents, applicable to Premier Private Banking or Premier Banking clients; if it is for Supreme Banking clients, BEA GOAL, or other personal integrated accounts, the rates for 3, 6, and 12 months are 3.35 cents 3.15 cents and 2.85 cents. The minimum deposit amount must be USD 1,000 or more. ．Ant Bank 6-month 2.5 cents Ant Bank's Hong Kong dollar 1-month time deposit is 2 cents, 3 months 2.3 cents, 6 months 2.5 cents, and 9 and 12 months are 2.3 cents, with a minimum deposit of 1 HKD. For USD time deposits, the interest rate for 1 month is 3.8 cents, and for 3, 6, 9, and 12 months, the interest rate is uniformly 3 cents. ．DBS Bank 3-month 2.4 cents DBS Bank's online 3-month Hong Kong dollar time deposit interest rate is 2.4 cents, with 6 months and 12 months at 2.35 cents and 2.2 cents respectively, with a minimum deposit of over 50,000 HKD, applicable to DBS Wealth Management and private clients, as well as general DBS clients. In addition, the bank previously launched a limited-time time deposit offer for selected customers. Before December 5, customers who register and open a 4 or 6-month online time deposit with no less than 200,000 HKD or 25,000 USD in new funds, and complete specified tasks, can enjoy interest rates of up to 3.3 cents for HKD and 3.8 cents for USD (including the same-day new fund preferential annual interest rate and additional annual interest rate). The tasks include completing any eligible product transaction with the bank, such as completing any amount of retail transaction with a UnionPay Diamond debit card; transferring 100 HKD or more using the mobile number, email address, Faster Payment System identification code, bank account, or e-wallet of other bank account holders through online banking or mobile applications; completing a single foreign currency exchange transaction of 1,000 HKD or more (or its foreign currency equivalent); or completing a buy or sell transaction of any amount of securities from Hong Kong, the United States, Canada, Singapore, Australia, Japan, or the United Kingdom through a wealth management account. ．HSBC 3 and 6 months 2.4 cents HSBC's 3-month and 6-month Hong Kong dollar time deposit interest rate is 2.4 cents, suitable for wealth management clients, HSBC One, and other clients, with a minimum deposit of 10,000 HKD. For USD time deposits, HSBC wealth management clients have interest rates of 3.5 cents and 3.4 cents for 3-month and 6-month periods, respectively, and 3.1 cents for 12 months; HSBC One and other clients have rates of 3.3 cents, 3.2 cents, and 2.9 cents, with a minimum deposit of 2,000 USD or more. In addition, HSBC continues to offer a maximum 10 cents interest rate for 1-month Hong Kong dollar time deposits, with a minimum deposit of 10,000 HKD, but requires joining "Transaction Hub" and completing at least one transaction per month. It is worth noting that the more monthly transaction amounts, the lower the brokerage commission, and the higher the maximum limit for the 10 cents time deposit, with monthly transaction amount requirements ranging from 1 HKD to 40 million HKD, commissions from 0.01% to 0.25%, and time deposit limits from 10,000 HKD to a maximum of 4 million HKD ．Hang Seng 3 and 6 Months 2.4 Cents Hang Seng Bank offers a fixed deposit interest rate of 2.4 cents for 3-month and 6-month terms, which must be opened through online banking. This rate applies to Superior Private Banking, Superior Banking, Advanced Banking, or Comprehensive Accounts, with a minimum deposit of HKD 10,000 in new funds. For USD fixed deposits, the interest rates for 3-month and 6-month terms are 3.6 cents and 3.5 cents, respectively, with a minimum deposit of USD 2,000 or more. ．Standard Chartered 3 and 6 Months 2.4 Cents Standard Chartered Bank offers a general 3-month fixed deposit interest rate of 2.4 cents, with rates of 2.4 cents and 2.5 cents for 6-month and 12-month terms, respectively, requiring a minimum deposit of HKD 10,000 in new funds. For USD fixed deposits, the rates for 3-month and 6-month terms are 3.5 cents, and for 12 months, it is 3.1 cents, with a minimum deposit of USD 2,000 or more in new funds. Additionally, the bank offers a maximum interest rate of 3 cents for selected customers on a 12-month fixed deposit, requiring a minimum deposit of HKD 10,000, which must be processed through online banking SC Mobile, branches, or dedicated lines. ．Bank of China 3-Month Fixed Deposit 2.4 Cents Bank of China Hong Kong offers a 3-month fixed deposit interest rate of 2.4 cents, and 2.2 cents for 6 months, with a minimum deposit of HKD 10,000, which must be opened through online banking or mobile banking. This applies not only to Private Wealth and Bank of China Wealth Management customers but also to Smart Wealth Management, Easy Wealth Management, and other personal customers. For USD fixed deposits, Private Wealth and Bank of China Wealth Management customers can enjoy a 3-month fixed deposit interest rate of 3.5 cents, and 3.3 cents for 6 months; for Smart Wealth Management, Easy Wealth Management, and other personal customers, the rates are 0.2 cents lower, with a minimum deposit of USD 1,000. ．China Construction Bank (Asia) 3 Months 2.3 Cents China Construction Bank (Asia) offers a 3-month fixed deposit interest rate of 2.3 cents for customers opening with eligible new funds, requiring a minimum deposit of HKD 1 million or more. For USD fixed deposits, the 3-month interest rate drops to 3.6 cents, with a minimum deposit of USD 100,000 or more. For new customers opening a "VIP Wealth Management" account with a deposit of HKD 1 million to 2.5 million for a 3-month HKD fixed deposit, the first 20% of the funds will have an annual interest rate of 6.88 cents, while the remaining 80% will be calculated at a different fixed deposit rate, with the promotional period ending on December 31. Additionally, new eligible customers opening an account through the "e-Account Service" can enjoy a cash reward of RMB 200. If they also open a securities account, they can deposit HKD 100,000 at an interest rate of 12 cents for a 1-month fixed deposit, or at 5.88 cents for a 3-month fixed deposit; if only a general savings or checking account is opened, they can only deposit HKD 50,000 at 12 cents for a 1-month fixed deposit, or at 5.88 cents for a 3-month fixed deposit. The promotional period ends on December 31. ．ZA Bank 12-Month Fixed Deposit 2.01 Cents ZA Bank's Hong Kong dollar time deposit rates are 0.51% for 3 months, 0.61% for 4 months, and 1.61% and 2.01% for 6 and 12 months respectively; for US dollar time deposits, the rate for 4 months is 3.11%. In addition, the bank has a "Rate Increase Tuesday" event, where users can receive 4 deposit rate increase vouchers every Tuesday, along with a base annual interest rate of 0.1%, reaching a maximum of 0.9% annual interest rate; if users invite friends to complete specified actions, and the friend's progress reaches 100% on Tuesday, they can receive "additional rate increase vouchers," ultimately achieving a maximum interest rate of 1.8%. However, the deposit limits, terms, rates, and validity period for the rate increase vouchers are subject to the content displayed on the vouchers, with the promotion period ending on December 31. Federal Reserve Meeting Schedule | How much will the US cut rates? According to the CME FedWatch Tool, the probability of the Federal Reserve cutting rates by 0.25% in December has risen to 86.4%; the probability of maintaining the current rate has dropped to 13.6%. Looking ahead to January next year, there is a 10% chance of maintaining the current rate, compared to a 67% chance of a 0.25% cut and a 23% chance of a 0.5% cut. Below is the Federal Reserve's meeting schedule for this year: January 29, 2025 March 19 May 7 June 18 July 30 September 17 October 29 December 10