【HKD Fixed Deposits】HKD Fixed Deposit Rates Among the Highest in the City at 2.5% Over 10 Hong Kong Banks Support the 5% Interest Rate Party

Safe-haven funds flow into Hong Kong, with Hong Kong banks lowering interest rates as the wave of rate cuts intensifies. Although there was another surge of over ten million HKD in Hong Kong dollar deposits—the highest since Lunar New Year—interest rates are rising again. Unfortunately, today (March 12), seven small and medium-sized banks lowered their HKD fixed deposit rates, including Bank of Communications Hong Kong, which cut its 1-week rate for three consecutive days.

Click the chart 👇👇👇👇 to view HKD fixed deposit rate comparison

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Today’s Hong Kong banks’ moves:

Mixed adjustments:

• China CITIC Bank International short-term rates decreased slightly by 0.03% for 3 months to 2.2%, but slightly increased for 6 months by 0.02% to 2.25%.

Rate cuts:

• Dah Sing Bank cut 3-month rate by 0.1% to 2.2%
• Nanyang Commercial Bank withdrew 1-month deposit at 2%, now only 1.85%
• CCB (Asia) cut 6-month rate by 0.1% to 2.25%
• Public Finance Bank cut 6-month rate by 0.125% to 2.5%
• Bank of Communications Hong Kong continued its 3-day rate cuts: recently lowered 3-month rate by 0.05% to 2.25%
• Fusion Bank cut 6-month rate by 0.1% to 2.4%
• Livibank cut 3-month and 6-month rates by 0.1% to 2.2%

Hong Kong dollar liquidity injection of HKD 20 million, overnight rates rise for three consecutive days

Interbank rates generally rose, with overnight rates increasing for three days in a row, now at 1.57%; the 1-month interbank rate remains at 2.02%. After 13 days, the HKMA again injected HKD 200 million via the discount window yesterday, the highest since February 16 (Lunar New Year’s 29th day), when HKD 4.734 billion was injected.

The total banking system liquidity slightly increased to HKD 53.874 billion, compared to HKD 44.611 billion before the “liquidity boost,” a difference of HKD 9.263 billion. The HKD exchange rate this morning ranged from 7.826 to 7.8248. Oil prices rose again, tensions between the US and Iran increased, and the US dollar index rose above 99, now at 99.471.

Since March, 18 small and large banks have cut rates, led by HSBC

In just 12 days from March, a total of 24 banks and financial institutions have adjusted fixed deposit rates, with 18 cuts and 6 mixed adjustments. Notably, HSBC, Hang Seng, and Standard Chartered, rarely leading the rate cuts this month, triggered a new wave of rate reductions among small and medium-sized banks. So far, there has been no uniform “rate hike.” Even if Chuang Hsing Bank initially increased short-term deposits at the start of the month against the trend, it has since cut rates twice.

Latest HKD fixed deposit rates in March:

Mixed adjustments:

• Dah Sing Bank: after recent increases, cut 3-month rate by 0.2% to 2.2%, then increased 1-year rate by 0.04% to 2.55%
• AirStar Bank: after increases, cut 1-year rate by 0.05% to 2.55%
• CCB (Asia): after two days of cuts, 6-month and 1-year rates fell below 2%, now at 1.9%
• China CITIC Bank International: daily increases and decreases, latest 1-year rate up by 0.04% to 2.37%
• Chong Hing Bank: after increases, cut 3-month rate by 0.15% to 2.6%, then cut 0.1% to 2.5%, now at 2.4%
• Public Bank: after increases, rates up by 0.05% for 2 months to 2.0%
• HSBC: on March 2, led rate cuts with 3-month rate down by 0.2% to 2.2%, and 6-month rate down by 0.1% to just below 2% at 1.98%
• Hang Seng Bank: on March 2, cut 3-month rate by 0.2% to 2.2%
• Standard Chartered: on March 2, cut 3-month rate by 0.1% to 2.1%, 6-month rate down by 0.05% to 1.95%
• ICBC (Asia): three consecutive days of rate cuts, including 3-month rate down by 0.15% to 2.43%
• E.SUN Bank: cut 3-month and 6-month rates by 0.1% to 2.3%
• DBS: cut 2-month rate by 0.6% to 1.6%
• Bank of Communications Hong Kong: three consecutive days of rate cuts, 3-month rate down by 0.2% to 2.3%
• Fubon Bank: three consecutive days of rate cuts, with 3-month, 4-month, and 6-month rates down by 0.3% to 2.35%
• Nanyang Commercial Bank: two consecutive days of rate cuts, with 5-month rate down by 0.35% to 2.3%
• CCB (Asia): two consecutive days of rate cuts, 3-month and 4-month rates down by 0.2% to 2.25%
• Bank of China (Hong Kong): two consecutive days of rate cuts, 6-month rate down by 0.3% to 2.18%
• Public Finance Bank: two consecutive days of rate cuts, 4-month rate down by 0.25% to 2.375%
• PAObank: cut 3-month rate to 2.65%, only HKD 3 million, with a new promotion offering up to HKD 100,000 deposit limit at 15% for one month (recommended for new customers via app, until March 31)
• WeLab Bank: 6-month rate cut by 0.15% to 2.4%
• Fusion Bank: 1-week rate cut by 0.3% to just below 1%
• livi bank: 3-month and 6-month rates down by 0.3% to 2.2%
• Mox: 1-year rate down by 0.05% to 2.3%
• ANT Bank: 6-month rate cut by 0.4% to 2.2%

New promotions:

• PAObank (with increased deposit cap): 1-month deposit at 15% (recommended for new customers): minimum HKD 100, share referral code via app, new qualified customers opening a new personal account can deposit up to HKD 100,000, earning HKD 1,250 interest over the term. (Digital bank)
• PAObank 1-month at 12%: minimum HKD 100, new qualified customers opening a savings account can earn HKD 1,000 interest on HKD 100,000. Valid until March 31.
• Dah Sing Bank: 1-year at 2.8%, minimum HKD 100,000, “Yuet Chut Principal & Interest” fixed deposit, with flexible terms (12, 18, or 24 months), monthly interest or partial principal and interest withdrawal, suitable for stable income and cash flow. For example, opening HKD 120,000 for 12 months, with monthly principal withdrawal limit of HKD 10,000.

PAObank removes the 3% quick rate, Hang Seng withdraws 5%

Additionally, many special rates are extended, such as Fusion Bank’s 7-day 8.8% offer.

Extended promotions (originally ending February):

Until March 9:

• Fusion 7-day 8.8%

Until March 31:

• PAObank 3-month at 2.65%, 6-month and 1-year at 2.75%
• Fubon Bank 7-day at 6.88%, 1-month at 3.38%: until March 31, customers can exchange specified currencies via bank or Fubon+ app
• ICBC (Asia) 3-month at 2.43%, 98-day and 188-day at 2.3%
• Standard Chartered 1-year at 2%

Discontinued special rates:

• DBS 2-month at 6%
• Hang Seng 2-month (including savings growth) at 5%, and designated wealth management at 2.4%
• WeLab Bank minimum HKD 200,000 for 6 months at 2.62%

In summary, in March, the highest new fixed deposit rate is from PAObank at 15% for 1 month, slightly below the earlier 18%. Given the current “political market” or prolonged uncertainty, it’s unlikely the Hong Kong stock market will have a spring rally in the first quarter. Moreover, the digital banks have doubled the deposit limit from HKD 50,000 to HKD 100,000, increasing interest earnings from HKD 625 to HKD 1,250.

Considering extended promotions, Fusion Bank’s 14-day 25% rate still leads.

Multiple options for 5% interest rate camp; short-term deposits for risk hedging are the safest

The stock market fluctuates daily. Investors joke that the focus stock Tencent recently showed a “lobster saving the penguin,” as the “lobster” craze boosted the tech giant from lows around HKD 500. The so-called “lobster” AI proxy OpenClaw has become popular, dubbed the “strongest AI assistant” by netizens. Tencent Chairman Ma Huateng also announced that a preliminary “lobster” AI ecosystem covering individuals, developers, and enterprise deployment has formed, with related products to follow.

For retail investors trying to bottom fish in the “political market” and then taking profits by short-term trading, it’s wise to take advantage of the more than ten banks supporting 5% interest club, most of which are 7-day short deposits. They can use stock trading gains to fund fixed deposits, aiming to earn on both sides.

After all, “disaster wealth” from war is hard to profit from. Tomorrow (13th) is “Black Friday,” and recent Mondays have often been “Black Monday,” making fixed deposits the safest for principal and interest.

Trump claims Iran conflict will end soon

As a side note, Brent crude oil prices rose again to $100 this morning. Middle East tensions persist, with attacks on merchant ships in the Strait of Hormuz and Persian Gulf. Iran warns that oil prices could surge to $200 per barrel.

The International Energy Agency (IEA) announced that member countries agreed to release 400 million barrels of emergency oil reserves—the largest in history—to address disruptions caused by Middle East conflicts.

However, Trump also claimed the Iran war is nearing its end, citing the lack of targets to attack.

Meanwhile, markets expect the Federal Reserve’s rate decision next Thursday (March 19) to keep rates unchanged. Due to Middle East tensions, some analysts believe rates may stay steady for a while, but soft employment data suggest a 50% chance of rate cuts by July.