Ping An Digital Bank Launches Record 3.45% 12-Month HKD Fixed Deposit
HK01 · 2 SOURCESabout 1 hour ago1 MIN
Summary
Ping An Digital Bank has launched a competitive 12-month HKD fixed deposit promotion targeting new customers, offering an annual interest rate of 3.45% on deposits of HK$1 million or above. This rate stands as the highest among all Hong Kong banks for 1-year HKD term deposits. The promotion coincides with the launch of retail bonds, prompting local banks to adjust their deposit rates to attract customers. The promotional period extends until August 23, 2026, providing ample time for eligible customers to take advantage of this lucrative offer.
Key Points
- New customers placing HK$1 million or more in a 12-month HKD fixed deposit can earn 3.45% annual interest, the highest rate in Hong Kong
- The promotional period runs from now until August 23, 2026
- New customers using referral code "PR02" for a 1-month HKD deposit receive 12% interest on the first HK$100,000
- Existing customers can earn 16% interest on 1-month deposits for each successfully referred friend, plus HK$300 cash reward
- Top three "Referral Kings" who introduce the most friends can win HK$9,888, HK$3,888, and HK$1,888 respectively
Why It Matters
The timing of this promotion, coinciding with retail bond sales, reflects intense competition among Hong Kong banks for customer deposits. Higher deposit rates benefit savers seeking safe, guaranteed returns in a low-interest environment while putting pressure on traditional banks to improve their offerings.
The timing of this promotion, coinciding with retail bond sales, reflects intense competition among Hong Kong banks for customer deposits. Higher deposit rates benefit savers seeking safe, guaranteed returns in a low-interest environment while putting pressure on traditional banks to improve their offerings.