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2%+ Interest Rate Deposits - 2019

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  1. #1

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    2%+ Interest Rate Deposits - 2019

    Original Post Deleted
    Can you really get 2.3% on HKD now? I thought was more around 1.6-1.7%. Considering the banks lend me HKD at 1.8%, how is it possible they offer higher rates on savings than they do on loans? It’s mind boggling. The whole world has turned upside down.
    MandM! likes this.

  2. #2

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    Original Post Deleted
    Did you have to go in, or was this done online?

  3. #3

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    DBS online promo goes to 2.4 for six months for HKD + some bonus cash.

    USD goes up to 2.05 for 3 months.

    I suspect better rates might be available through the branch or RM.

    https://www.dbs.com.hk/personal/prom...OnlineTD-promo

    Last edited by shri; 10-10-2019 at 10:56 AM.
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  4. #4
    Original Post Deleted
    Interesting that the 3 and 6 month rates are higher than the 12 month rate. Presumably they are expecting interest rates to decline?
    bdw likes this.

  5. #5

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    Time to borrow $100million at 1.8% interest, put it in a FD at 2.4%. Interest expense is $1.8m, interest earned is $2.4m. Woohooo I just made a quick $600,000 with zero risk and doing sweet fuck all!!!


  6. #6
    Quote Originally Posted by bdw:
    Time to borrow $100million at 1.8% interest, put it in a FD at 2.4%. Interest expense is $1.8m, interest earned is $2.4m. Woohooo I just made a quick $600,000 with zero risk and doing sweet fuck all!!!
    Sounds like a plan.

    The interest rate spread suggests that either you have a better credit rating than the bank or there's a risk factor or two that hasn't been accounted for.

  7. #7

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    Quote Originally Posted by bdw:
    Time to borrow $100million at 1.8% interest, put it in a FD at 2.4%. Interest expense is $1.8m, interest earned is $2.4m. Woohooo I just made a quick $600,000 with zero risk and doing sweet fuck all!!!
    Although I think 1.8% interest loans would be for property which wouldn't work because you're not using the money to buy real estate. Unless you can find unsecured/personal loans at rates that low?

  8. #8

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    Original Post Deleted
    only certain customer type can enjoy this offer?
    i can't see this offer via desktop or mobile app

  9. #9

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    Quote Originally Posted by Paxbritannia:
    Although I think 1.8% interest loans would be for property which wouldn't work because you're not using the money to buy real estate. Unless you can find unsecured/personal loans at rates that low?
    I have borrowed at 1.8% unsecured "credit to cash" loan from Standard Chartered. Basically my credit card has over $1m credit limit which I never use and always pay off full amount every month, so Standard Chartered offered to loan me all this unused credit limit at 1.8%. I borrowed $600k, over a 4 year period, total repayments $12,900 per month for 48 months is $619,000. Totally unsecured and I can run away with this money any time I want.

    I also have borrowed from Citibank a tax loan unsecured at 1.92%. HK$1.5m over 4 years, repaying $32,630 for 48 months = $1,566,240.

    So yeah, its quite easy to borrow money unsecured under 2% in Hong Kong. Then just put it into one of these 2.4% fixed deposits. A simple 0.5% gain with zero risk.

  10. #10

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    Original Post Deleted
    Very annoying you have to do it via phone banking or in branch.

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