Deposit rates edge upwards

Business | Stella Zhai 21 May 2019

The Hongkong and Shanghai Banking Corp is raising three-month and six-month Hong Kong dollar fixed deposit rates by 0.05 to 0.3 of a percentage point.

For Jade customers, three-month and six-month fixed deposit rates rise 0.3 and 0.15 percentage points to 1.9 percent and 1.95 percent respectively. And the three-month deposit rates for Premier, Advance and other customers rise 0.2 of a percentage point to 1.7 percent, 1.65 percent and 1.6 percent respectively.

The six-month deposit rates for the three types of customers grew only 0.05 of a percentage point to 1.75 percent, 1.7 percent and 1.65 percent. Jade customers still enjoy a 2-percent, 12-month fixed deposit rate and a 2.05 percent, 18-month fixed deposit rate.

Standard Chartered raised its Hong Kong dollar fixed deposit rate by 0.1 to 0.3 of a percentage point last week.

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