Banks raise deposit rates furtherBusiness | 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.