Banks raise deposit rates further

Business | 5 Sep 2019 3:20 pm

Local banks have begun to raise deposit rates to draw more customers.

The Hongkong and Shanghai Banking Corporation followed Hang Seng Bank (0011) in raising the six-month Hong Kong dollar deposit rate to 2.4 percent from 2.1 percent for 'Jade' service customers.

HSBC also increased its three-month Hong Kong dollar deposit rate from 2.1 percent to 2.3 percent for deposits of HK$10,000.

Hang Seng Bank (0011) also increased the six-month Hong Kong dollar deposit rate again to 2.5 percent.

But, HSBC lowered the US dollar deposit rate overall.

 

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