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2024 - Best Deposit / Interest Rates

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  1. #31

    Join Date
    May 2009
    Posts
    1,299
    Quote Originally Posted by freeier:
    go study the marathon saving program by SCB.. i heard its a saving account that can be withdrawn anytime with good interest rates if you place the full 3 mths.
    I have done that one last year or so, downside is that after the initial (bonus) period you wil get peanuts again and only new subscribers will get the higher rate. So it's like a one time thing and you will need to close the account (or let them close it for you after not using it for a while)
    Not worth all the hassle (like many of these "special" offers)

    In my view, just pick a normal savings account or a time deposit with the best interest and use that.
    Morrison likes this.

  2. #32

    Join Date
    Nov 2005
    Location
    Cramped island
    Posts
    5,672
    Quote Originally Posted by Sith:
    I have done that one last year or so, downside is that after the initial (bonus) period you wil get peanuts again and only new subscribers will get the higher rate. So it's like a one time thing and you will need to close the account (or let them close it for you after not using it for a while)
    Not worth all the hassle (like many of these "special" offers)

    In my view, just pick a normal savings account or a time deposit with the best interest and use that.
    our corporate bankers from scb all do that.. they start one, use it for 3mths, then start a new one...
    i think the plus point is the high interest on an otherwise un-locked amount of money (versus Time Deposit). But personally i don't use it as my liquidity needs is low and i run a portfolio of term deposits (i.e. matures every other month or so)..

  3. #33
    Quote Originally Posted by ChuckFan:
    Mox has upped their interest rate of 3% p.a. on the first 3M HKD now. But you do have to do 10K worth of FX transactions every 30 days to get that rate.

    ZA Bank has something called the Savings Pot which apparently goes up to 4.4%, but you need to do a few extra things to get there...
    i did za saving pots which is not a fixed deposit, quite felixble and the tasks are not hard to complete

  4. #34

    Join Date
    Dec 2023
    Posts
    102

    Might be a bit of a side topic, but where is a good place for savings (not investments) - e.g. a UK bank account 1 year fixed gets you around 5% at the moment. Standard HK bank savings accounts look terrible - 0.5%! Is something like IB the place for that - it seems to suggest just under 5% interest on balances.

    Edit: my post was just moved here (sorry didn't see this thread before) so will have a read through of recommendations in the thread.

    Last edited by Seaturtle; 20-04-2024 at 03:44 PM.

  5. #35

    Join Date
    Mar 2024
    Posts
    229

    I believe IB has a minimum cash balance to get the significant interest rates - US$10,000 or equivalent from memory.

    (Not sure because I only generally hold small amounts of cash in IB - my funds there are invested.)


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