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Best Time Deposit Offers?

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  1. #31

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    Quote Originally Posted by coolguy88:
    DBS 1y USD is 3.8% now. Was 3.3% last week. Do you think the rates will improve further?
    As long as Uncle Jay and the Feds keep raising interest rates there is hope...

  2. #32

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    I'm booking a time deposit for 12 months in my company @ 4.75% with UCO bank just today actually FYI. They are also allowing me to have an overdraft facility and 0.4% if I have a requirement for it.

    shri likes this.

  3. #33

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    Quote Originally Posted by mangohkd:
    Didn't someone post about HSBC Expat? They seem to be offering close to 4% on HKD bulk amounts.
    Yes, this is true. HSBC is offering 4%+ AER on HKD deposits
    shri likes this.

  4. #34

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    Quote Originally Posted by mangohkd:
    Didn't someone post about HSBC Expat? They seem to be offering close to 4% on HKD bulk amounts.
    They do indeed. It's a 3 month time deposit annualised to 4%

  5. #35

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    Is this a special employee rate offered by UCO? HKD or USD?

    Quote Originally Posted by shree711:
    I'm booking a time deposit for 12 months in my company @ 4.75% with UCO bank just today actually FYI. They are also allowing me to have an overdraft facility and 0.4% if I have a requirement for it.

  6. #36

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    Quote Originally Posted by mangohkd:
    Is this a special employee rate offered by UCO? HKD or USD?
    We negotiated the rate so yes, it's a special rate and it's for USD but not sure what you mean by an employee rate, I'm not an employee of UCO Bank. It's for company account. So first of all, not sure if they will offer for individual and if they will, what is the minimum they require for that rate.

  7. #37

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    Quote Originally Posted by RobRoy:
    I'm sure SBI is fine, but just because the mother company is strong, it doesn't mean that SBI legally is not allowed to let its branch in HK go.
    but isn't technically a branch is part of the main bank and the main bank is legally obligated by all the branches' liabilities.. if you are saying they can just let the branch goes bust while not affecting the bank, that doesn't sound right...
    Gollygordon likes this.

  8. #38

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    Quote Originally Posted by freeier:
    but isn't technically a branch is part of the main bank and the main bank is legally obligated by all the branches' liabilities.. if you are saying they can just let the branch goes bust while not affecting the bank, that doesn't sound right...
    It depends on the capital structure. For example, HSBC banks in different countries are usually structured as completely separate entities with a common shareholder of limited liability. So the only reason they would bail out any specific country bank (e.g., HSBC USA) would be because of the damage to their reputation if they didn't.
    shri likes this.

  9. #39

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    Quote Originally Posted by qhank:
    It depends on the capital structure. For example, HSBC banks in different countries are usually structured as completely separate entities with a common shareholder of limited liability. So the only reason they would bail out any specific country bank (e.g., HSBC USA) would be because of the damage to their reputation if they didn't.
    Well then let me put this debate to a rest because most of the Indian Banks in Hong Kong are not incorporated as entities here and are incorporated in India. These are overseas branches, not overseas entities.
    ndt and Gollygordon like this.

  10. #40

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    Original Post Deleted
    No, this isn't true. These Indian Banks don't have HK incorporated entities. Even their websites will tell you that. Furthermore, if you go on the website of the Reserve Bank of India, they make clear which banks have overseas entities and where. There are actually very few.

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    Even if you go to the website of the Deposit Protection Scheme, you will see that it is the Indian entities that have the DPS coverage. Whereas, for some other banks, you will observe that there are multiple entities listed, such as HSBC HK, HSBC UK, HSBC USA or DBS HK and DBS SG for example.
    shri, ndt and Gollygordon like this.

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