Hong Kong Banks Raise Fixed Deposit Rates to 2.88%, June 07

Hong Kong banks are raising fixed deposit rates as competition for customer funds intensifies. OCBC offers HKD fixed deposits at 2.88% annually, while Standard Chartered launched its Marathon Savings Account with cash rebates up to HKD 3,888. These moves reflect banks’ efforts to attract deposits in a market where savers seek better returns.

OCBC Raises HKD Fixed Deposit Rates

OCBC Hong Kong increased its fixed deposit rates to 2.88% annually on HKD deposits. The bank updated rates daily as of June 2026. This rate applies to new fixed deposit placements and represents a competitive offer in the local market.

Standard Chartered Launches Marathon Savings Account

Standard Chartered introduced the Marathon Savings Account with rates for high-balance depositors. New Priority Banking clients who deposit HKD 5,000,000 or USD 650,000 and maintain the balance until October 5, 2026 receive HKD 3,888 cash rebate. Referrals earn an additional HKD 300 rebate per successful friend signup.

Why Banks Are Competing for Deposits

Hong Kong banks face pressure to attract deposits as interest rates remain elevated. Higher fixed deposit rates help banks retain customer funds and meet lending requirements. Savers benefit from better yields on term deposits compared to savings accounts.

What This Means for Savers

Retail investors can lock in 2.88% annual returns on HKD fixed deposits at OCBC. Standard Chartered’s account targets high-net-worth clients with minimum deposits of HKD 1,000,000 to HKD 5,000,000. Savers should compare rates across banks and review deposit terms before committing funds.

Final Thoughts

Hong Kong fixed deposit rates now reach 2.88% at OCBC, offering savers better returns than savings accounts. Compare terms and minimum deposits across banks before locking in your funds.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.