HSBC lowers USD saving interest rate

Business | 19 Sep 2019 3:53 pm

The Hongkong and Shanghai Banking Corporation kept its best lending rate at 5.125 percent, but lowered its US dollar saving interest rate from 0.25 percent to 0.1 percent, after the Hong Kong Monetary Authority cut its benchmark interest rate by 0.25 percentage points to 2.25 percent following the United States Federal Reserve's rate cut.

The bank raised the benchmark rate by 12.5 basis points to the current level in September 2018.

HSBC maintained the saving interest rate in HK dollar at zero for deposits with less than HK$5,000 balance, and 0.125 percent for deposits with HK$5,000 balance or above.

Search Archive

Advanced Search
October 2019
S M T W T F S

Today's Standard



Yearly Magazine

Yearly Magazine