Amid potential market fluctuations, smart investors look for stable ways to grow their assets, and placing idle funds into a bank’s new funds time deposit offer is an excellent choice. To attract deposits, major banks have launched highly appealing high interest promotions, but the terms can be overwhelming and the rate differences significant. This article provides the most comprehensive comparison of new funds’ time deposit rates, with an in depth breakdown of the latest offers from popular banks such as Standard Chartered new funds time deposits and Hang Seng, allowing you to see all the details at a glance and easily secure the highest returns. 💰
Before comparing the various bank promotions, you must understand the definition of “new funds”. Simply put, “new funds” refer to fresh money deposited into the bank within a specified calculation period, rather than funds transferred from an existing account within the same bank. Banks launch these offers primarily to attract customers to move funds from other financial institutions and expand their deposit base. Therefore, understanding each bank’s definition is the first step to successfully securing high interest offers.
Although the core concept of “new funds” is similar, each bank has slight differences in its specific definition and calculation method. Below is a summary of several major banks’ definitions to help you grasp them quickly:
Note: The above definitions are for reference only. The latest and most accurate definitions should follow the official announcements of each bank.
Want to earn high interest but all your money is parked in the same bank? Don’t worry. Here are several legal and compliant techniques to help you easily “create” new funds:
Now that you understand the basic concepts, the next step is the most crucial one which is comparing rates across major banks. To give you a clear overview, we have compiled the HKD new funds time deposit rates offered by major banks in the market, covering different tenors and minimum deposit requirements. 📈
The table below compiles the reference annual interest rates from 15 banks, allowing you to conduct a comprehensive comparison of new funds’ time deposit rates. Please note that rates may change at any time, so it is recommended to check the bank’s official website again before opening an account.
| Bank | 3 Month Tenor (Annual Rate) |
6 Month Tenor (Annual Rate) |
12 Month Tenor (Annual Rate) | Minimum Deposit Amount |
| Standard Chartered Bank | Up to 4.5% | Up to 4.3% | Up to 4.0% | HK$10,000 |
| Hang Seng Bank | Up to 4.3% | Up to 4.2% | Up to 3.9% | HK$10,000 |
| HSBC | Up to 4.2% | Up to 4.1% | Up to 3.8% | HK$10,000 |
| Bank of China (Hong Kong) | Up to 4.2% | Up to 4.1% | Up to 3.8% | HK$10,000 |
| Citibank | Up to 4.8% (Selected Customers) | Up to 4.6% | Up to 4.2% | HK$50,000 |
| Fubon Bank | Up to 5.1% (Mobile Account Opening) | Up to 4.9% | Up to 4.5% | HK$500,000 |
| Dah Sing Bank | Up to 4.7% | Up to 4.5% | Up to 4.2% | HK$20,000 |
| CNCBI | Up to 4.6% | Up to 4.4% | Up to 4.1% | HK$10,000 |
| Chong Hing Bank | Up to 4.55% | Up to 4.35% | Up to 4.05% | HK$5,000 |
| Nanyang Commercial Bank | Up to 4.5% | Up to 4.3% | Up to 4.0% | HK$100,000 |
| Bank of East Asia | Up to 4.4% | Up to 4.2% | Up to 3.9% | HK$10,000 |
| DBS Bank | Up to 4.35% | Up to 4.25% | Up to 4.0% | HK$50,000 |
| ICBC (Asia) | Up to 4.3% | Up to 4.1% | Up to 3.8% | HK$100,000 |
| CMB Wing Lung Bank | Up to 4.25% | Up to 4.15% | Up to 3.95% | HK$10,000 |
| Bank of Communications | Up to 4.2% | Up to 4.0% | Up to 3.8% | HK$20,000 |
*The above rates are market reference data for the first quarter of 2025 and are for reference only. Actual rates are subject to the final announcement of each bank.
As shown in the table above, the entry threshold varies significantly across banks. Generally, virtual banks or certain small to medium sized banks have lower minimum requirements, such as HK$5,000 or HK$10,000, making them suitable for young professionals or investors with more diversified funds. In contrast, some foreign banks or premium customer offers may require HK$500,000 or even HK$1,000,000 as the entry amount, though the rates offered may be more competitive. When choosing, you should fully consider your own financial situation.
As one of Hong Kong’s three banknote issuing banks, Standard Chartered’s time deposit promotions have always attracted strong market attention. Standard Chartered’s offers typically balance rate competitiveness with convenience of application, making it a top choice for many who opt for Standard Chartered new funds time deposits.
Applying for a Standard Chartered time deposit through the mobile App is very convenient and requires only a few simple steps:
Hang Seng Bank is likewise a trusted financial institution among Hong Kong residents. Its Hang Seng new funds time deposit offers are known for stability and variety, often launching exclusive schemes tailored to different customer segments.
Opening a time deposit using the Hang Seng Personal Mobile Banking App is equally simple:
Regardless of which bank you choose, you should pay attention to Hong Kong’s Deposit Protection Scheme. According to the guidelines of the Hong Kong Monetary Authority, eligible deposits (including HKD and foreign currency time deposits) are protected up to HK$500,000 per licensed bank, providing an additional safety net for your funds.
A: Yes. Once you successfully open a time deposit account, the interest rate you receive will remain fixed throughout the entire deposit period and will not be affected by market rate fluctuations. This is one of the key advantages of time deposits as a stable investment tool.
A: If you withdraw funds before the deposit period ends, the bank will typically charge a handling fee or penalty. In addition, you will not receive any accrued interest. Penalties vary across banks, so it is advisable to read the relevant terms carefully before opening an account.
A: The most convenient and efficient method is to use “FPS”, with a daily transfer limit of up to HK$1,000,000 (depending on each bank’s settings). For larger amounts, you may use e Cheque or CHATS (same day settlement system). These methods ensure a clear source of funds and fully meet the definition of “new funds”.
A: The main differences are convenience and interest rates. Opening an account online or through a mobile App does not require queuing and can be done 24 hours a day. More importantly, many banks offer exclusive “online only” high interest promotions through digital channels, which may provide higher rates than those available at branches. However, if the deposit amount is very large or if you require professional advice, visiting a branch is also a good option.
A: In Hong Kong, individuals do not need to pay profits tax on interest income earned from bank deposits. This makes time deposits a highly attractive low risk capital growth tool.
In summary, choosing the most suitable “new funds time deposit offer” is a task that requires careful comparison. Investors should not only be attracted by the highest interest rate figures, but must also consider the length of the deposit period, the level of entry requirements and each bank’s unique definition of “new funds”. This article has systematically compiled detailed information on Standard Chartered new funds time deposits, Hang Seng new funds time deposits and other major banks, along with a comprehensive new funds time deposit rate comparison. It is recommended that you choose the most advantageous option based on your fund size, liquidity needs and financial goals to achieve stable asset growth. Take action now and lock in an exclusive high interest return for your idle funds!
