Time Deposit Rates
A time deposit, or a certificate of time deposit, is an interest-bearing bank deposit that has a specified date of maturity. It is a bank account type option for customers who would like to deposit available. Online submission for Time Deposit requests. Due to the COVID-19 outbreak, we will accept your online requests to withdraw or amend your Time Deposit instructions without visiting our branches. Plus, enjoy our promotional interest rate when you apply for a SGD Time Deposit. The preferential time deposit interest rate in this promotion material is quoted based on the interest rates of Hong Kong Dollars, RMB and Foreign Currencies time deposits published on 2 March 2021 by BOCHK and is for reference only. The preferential interest rate is a one-off privilege for each time deposit and the subsequent renewal rates. Compare US interest rates for consumer savings and lending products from banks in the USA. Find and compare rates for certificate of deposits (CD), checking, savings, credit cards, personal loans.
What Is A Time Deposit?
A time deposit, also referred to as certificates of deposit, is a fixed deposit at a bank, which you will not have access to during the agreed time period in exchange for a higher interest rate compared to a savings account. Identical to an investment account, you will be eligible to a higher premium rate as a return on your investment. Time deposit investment rates generally differ from interest range of 1.00% to 5.00%.
Time Deposit Tenure
Usually time deposit terms vary from 1, 2, 3, 6, 9 or 12 months. But with other banks, they can offer to an extent of five to six years. Regarding the maximum time deposit tenure, it would usually depend on the depositor who has full control on the tenure. In general, time deposit terms shift from 1 to 12 months. Whereas different banks can also offer to a degree of up to five to six years.
Time Deposit Fees And Charges
Are there any charges when I invest my money in a Time Deposit? Yes, there will be charges. Interest earned on time deposits is subject to a final tax of 20%. These are charged every month when an interest is earned on your account. Aside from taxes, it is also subject to stamp duties if the principal amount exceeds ₱250,000.00, in which you will be charged ₱1 for every ₱200 after it.
Time Deposit Requirements
The only requirement for a time deposit is, that you have available funds which you will not need to access over a certain amount of time. Depending on the bank, there might be a minimum amount or limitations regarding the time period. But in exchange for all the copies of identification and initial amount you will give to the bank, the bank will give you a certificate of time deposit.
Time Deposit Rates Hong Kong
Is Time Deposit Worth Investing In?
Certainly! If you are a person who is risk-averse and have very little risk appetite, time deposit is definitely for you. What makes time deposit an ideal investment option is that the returns are continuous and predictable. It is pretty straightforward and there are certainties. You just have to wait for the waiting period to be finished and you'd expect a specific earnings at the end of it.
How To Find The Best Time Deposit Interest Rate?
There are various offers by banks in the Philippines. We have put all of them together and created a comparison tool, which presents you the best interest rates based on your available savings and the time period. Needless to say, the usage of our comparison tool is free of charge. Once you have found the most favorable bank you may apply for it online.
Personal Banking Customers who have taken up Integrated Account Service and place a 3-month or 6-month 'New Fund Preferential Time Deposit' with 'Eligible New Fund Balance'* of HKD10,000 / USD1,000 / RMB10,000 or above via internet banking or mobile banking, can enjoy preferential annual interest rates as follows:
Wealth Management customers :
| Currency | 3-month | 6-month | Application Channel |
|---|---|---|---|
| HKD | 0.20% | 0.25% | Internet Banking, Mobile Banking |
| USD | 0.10% | 0.10% | |
| RMB | 1.50% | 1.55% |
Enrich Banking customers :
| Currency | 3-month | 6-month | Application Channel |
|---|---|---|---|
| HKD | 0.15% | 0.20% | Internet Banking, Mobile Banking |
| USD | 0.05% | 0.05% | |
| RMB | 1.45% | 1.50% |
i-Free Banking customers :
| Currency | 3-month | 6-month | Application Channel |
|---|---|---|---|
| HKD | 0.10% | 0.15% | Internet Banking, Mobile Banking |
| USD | 0.05% | 0.05% | |
| RMB | 1.40% | 1.45% |
Above preferential time deposit interest rate is quoted based on the time deposit interest rates of published on 6 March 2021 and is for reference only, customer can also contact BOCHK staff for updated preferential time deposit rate.
Time Deposit Rates In Philippines
*“Eligible New Fund Balance” refers to the incremental balance when comparing the latest deposit balance with the balance of the same currency as of last month end, after deduction of the sum of principle amount of the same currency which has been entitled to all new fund offers of time deposit in current month. Time deposit new fund offer is applicable to sole name account only. The balance of all accounts, including Savings Accounts, Current Accounts and Time Deposits of the same currency of Sole name account will be counted towards the calculation of 'Eligible New Fund Balance'. In case of any dispute on the definition of 'Eligible New Fund Balance', the decision of BOCHK shall be final.
Example：
Latest deposit balance of a currency (A) | $200,000 |
Deposit balance of the same currency as of last month end (B) | $50,000 |
Incremental balance (A-B) | $150,000 |
Sum of principal amount of the same currency which has been entitled to new fund offer of time deposit in current month ( C ) | $30,000 |
Eligible new fund balance (A-B-C) | $120,000 |
Personal Banking Customers who have taken up Integrated Account Service and place a 1-month, 3-month, 6-month or 12-month Exisitng Fund Preferential Time Deposit of HKD10,000 / USD1,000 / RMB10,000 or above via internet banking or mobile banking, can enjoy preferential annual interest rates as follows:
Wealth Management customers :
| Currency | 1-month | 3-month | 6-month | 12-month | Application Channel |
|---|---|---|---|---|---|
| HKD | up to 0.05% | up to 0.15% | up to 0.20% | up to 0.35% | Internet Banking, Mobile Banking |
| USD | up to 0.01% | up to 0.05% | up to 0.05% | up to 0.10% | |
| RMB | up to 1.00% | up to 1.40% | up to 1.50% | up to 1.55% |
Enrich Banking customers :
| Currency | 1-month | 3-month | 6-month | 12-month | Application Channel |
|---|---|---|---|---|---|
| HKD | up to 0.05% | up to 0.10% | up to 0.15% | up to 0.30% | Internet Banking, Mobile Banking |
| USD | up to 0.01% | up to 0.05% | up to 0.05% | up to 0.10% | |
| RMB | up to 0.95% | up to 1.35% | up to 1.45% | up to 1.50% |
i-Free Banking customers :
| Currency | 1-month | 3-month | 6-month | 12-month | Application Channel |
|---|---|---|---|---|---|
| HKD | up to 0.05% | up to 0.05% | up to 0.10% | up to 0.25% | Internet Banking, Mobile Banking |
| USD | up to 0.01% | up to 0.05% | up to 0.05% | up to 0.10% | |
| RMB | up to 0.90% | up to 1.30% | up to 1.40% | up to 1.45% |
Above preferential time deposit interest rate is quoted based on the time deposit interest rates of published on 6 March 2021 and is for reference only, customer can also contact BOCHK staff for updated preferential time deposit rate.
Personal Banking Customers who have taken up Integrated Account Service place a time deposit of original currency 1,000 (AUD, NZD, GBP, CAD) / original currency 10,000 (RMB) or above by conversion of funds enjoying the preferential annual interest rates as follows:
| Deposit Tenor | Preferential Interest Rate (p.a.) | Application Channel | |||||
|---|---|---|---|---|---|---|---|
| AUD | NZD | GBP | CAD | RMB | USD | ||
| 7-day | 7.80% | 7.80% | 8.80% | 8.80% | 6.80% | 5.00% | Internet Banking, Mobile Banking |
| 1-month | 2.00% | 2.00% | 2.00% | 2.30% | 3.50% | 1.00% | |
Set up Preferential RMB & FX time deposit now via Internet Banking or Mobile Banking with just a few clicks:
Login to Internet Banking > Banking > Time Deposit > Deposit Placing > Select placement of Time Deposit (Preferential RMB and FX Time Deposit)
(Both FX exchange and deposit placement should be conducted at the same time)
Personal Banking Customers who have taken up Integrated Account Service place a time deposit of original currency $1,000 or above by conversion of funds enjoying the preferential annual interest rates as follows:
| Number of actual deposit days | Corresponding deposit period | Preferential Interest Rate (p.a.) | Application Channel | |||
|---|---|---|---|---|---|---|
| AUD | NZD | CAD | GBP | |||
| 1 day - less than 7 day | 1-day | 0.01% | 0.01% | 0.01% | 0.01% | Internet Banking, Mobile Banking |
| 7 days - less than 1 month | 7-day | 0.02% | 0.02% | 0.02% | 0.02% | |
| 1 month - less than 3 months | 1-month | 0.05% | 0.05% | 0.03% | 0.03% | |
| Until the maturity | 3-month | 0.20% | 0.20% | 0.10% | 0.10% | |
Set up FX time deposit now via Internet Banking or Mobile Banking with just a few clicks:
Login to Internet Banking > Banking > Time Deposit > Deposit Placing > Select placement of Time Deposit (Foreign Currencies Flexi Time Deposit)
Personal Banking Customers who have taken up Integrated Account Service placing a 7-day or 1-month Preferential HKD Time Deposit Offerwith conversion of AUD, NZD, GBP or CAD funds, enjoying the preferential annual interest rates as follows:
| Deposit Tenor | Preferential Interest Rate (p.a.) | Application Channel |
|---|---|---|
| HKD | ||
| 7-day | 4.00% | Branch, Internet, Mobile, Manned Phone Banking Services |
| 1-month | 1.00% |
Set up Preferential HKD time deposit now via Internet Banking or Mobile Banking with just a few clicks:
Login to Internet Banking > Banking > Time Deposit > Deposit Placing > Select placement of Time Deposit (Preferential HKD Time Deposit)
(Both HKD exchange and deposit placement should be conducted at the same time)
Terms of the promotion offers:
- The above offers are only applicable to personal banking customers of Bank of China (Hong Kong) Limited ('BOCHK') who have taken up Wealth Management, Enrich Banking or i-Free Banking service (“Integrated Account Service“).
- Time deposits should be set-up on banking business days of Hong Kong. Deposits may not be uplifted before maturity. For a call deposit, maturity refers to the expiry of your notice of the agreed period to BOCHK. BOCHK may permit an early uplift subject to payment of BOCHK losses, expenses and charges (in the amounts determined by BOCHK). No interest will be payable on the deposit if an early uplift is permitted. Interest on a deposit is only payable at maturity. A deposit, which would otherwise mature on a non-business day (like Saturday, Sunday or public holiday), matures on next business day.
- Manned Phone Banking Services are only applicable to selected customers with designated transaction account. For details, please contact our branch staff.
- The above products, services and offers are subject to the relevant terms. For details, please refer to the relevant promotion materials or contact the staff of BOCHK.
- The preferential time deposit interest rate in this promotion material is quoted based on the interest rates of Hong Kong Dollars, RMB and Foreign Currencies time deposits published on 6 March 2021 by BOCHK and is for reference only. The preferential interest rate is a one-off privilege for each time deposit and the subsequent renewal rates of time deposits will be subject to the quotes by BOCHK from time to time.
- BOCHK reserves the right to amend, suspend or terminate the above products, services and offers, and to amend the relevant terms at any time at its sole discretion without prior notice.
- Offer is limited and available while quota lasts.
- In case of any dispute, the decision of BOCHK shall be final.
- Should there be any discrepancy between the English and Chinese versions of this promotion material, the Chinese version shall prevail.
Risk Disclosure:
- RMB investments are subject to exchange rate fluctuations which may provide both opportunities and risks. The fluctuation in the exchange rate of RMB may result in losses in the event that the customer converts RMB into HKD or other foreign currencies.
- RMB is currently not fully freely convertible. Individual customers can be offered CNH rate to conduct conversion of RMB through bank accounts and may occasionally not be able to do so fully or immediately, for which it is subject to the RMB position of the banks and their commercial decisions at that moment. Customers should consider and understand the possible impact on their liquidity of RMB funds in advance.
- Foreign currency investments are subject to exchange rate fluctuations which may provide both opportunities and risks. The fluctuation in the exchange rate of foreign currency may result in losses in the event that customer converts the foreign currency into Hong Kong dollar or other foreign currencies.