2024 - Best Deposit / Interest Rates

[HK_Katherine]

Was looking at HSBC interest rates on my account... and they are pathetic. My DBS Singapore account offers much better rates. Which led me to wonder...which HK bank offers decent savings rates right now? Any ideas?

[becomjapanHK]

Even the fixed deposit rates at HSBC Expat?

[HK_Katherine]

Even the fixed deposit rates at HSBC Expat?

Same as savings rate! Less than 1 percent....

[Peaky]

Are you looking in the right place?

You should be able to get 4% on HKD and 4.9% on USD via expat. 3 or 6 month fixes are at similar levels.

(Or if you want to get an online promo rate in HK you'll need to do the “new money” dance).

https://expatexplorer.hsbc.com/interest-rates/

[ndt]

Not aware of any bank offering good interest on savings account, most offers are for Fixed Deposit and minimum 3 months..

[HK_Katherine]

Are you looking in the right place?

You should be able to get 4% on HKD and 4.9% on USD via expat. 3 or 6 month fixes are at similar levels.

(Or if you want to get an online promo rate in HK you'll need to do the “new money” dance).

https://expatexplorer.hsbc.com/interest-rates/

Sorry I misread. I wanted to keep the money in HK. I don't have a HKD account in Jersey

[HK_Katherine]

I just tried looking in the Expat app.... can't find anything on deposit rates at all!

[Peaky]

Website only... if you have a Jersey account you can very quickly open an HKD currency account (again website journey rather than in app). In the app just go to multicurrency savings/fixed deposit for a link. Or follow what I posted above.

For HK, you need to round-trip your cash out of HSBC and back in 7 days later to get the promo rates. Or speak to an RM.

[ndt]

https://cms.hangseng.com/cms/emkt/pm....html?view=d2g

[ByeByeEngland]

Was looking at HSBC interest rates on my account... and they are pathetic. My DBS Singapore account offers much better rates. Which led me to wonder...which HK bank offers decent savings rates right now? Any ideas?

I can’t remember whether you’re from the UK or not. Even as a non resident I’m getting 3.65 via NS&I bank and 4% through HSBC UK for GBP balances. The NS&I one was a slight pain to open but not insurmountable. To open accounts including new fixed deposits is usually a phone call and a long wait. Note HSBC drops to 2 if you make a withdrawal in a calendar month (bonus saver account) and NS&I only pay the interest once per year. Moving GBP between HSBC UK and NS&I is easy.

Oh and NS&I doesn’t need guarantees so any cash I have that extends beyond HK or UK limits sits with them.

I looked at HSBC Expat a couple of years back but (and I could have this wrong) it seemed lo want to charge for just about anything you do with them.

I also have fixed deposits with both but NS&I Only currently have a limited offering.