Highest interest rate in Hong Kong 2022
Below is the comparison of the highest interest rates in Hong Kong with the two tables for the highest time deposit rate and the highest savings interest rate. At a glance you can see the highest interest rates are from the top virtual banks in Hong Kong. Don’t forget to check the invitation codes below so you get a free gift when you sign up! Stay up to date with the latest virtual bank promos by following our Facebook page.
Time deposit rate Hong Kong comparison table:
The Hong Kong interest rate chart below compares the time deposit rate in Hong Kong across several banks offering the highest interest rates
|Virtual banks||Annual interest rates||Referral code bonus|
Welab time deposit interest rates
ZA time deposit interest rate
Inmotion time deposit interest rate
1-2.3% (welcome offer 1.5-5.88% for first 3 months)
Standard Chartered bank time deposit interest rate
Best savings account Hong Kong 2022
The highest return interest rate for savings account in Hong Kong are listed in this table below. Using Mox, Za and Livi accounts, you can enjoy the highest interest rates for 1.2 million. If you’d like to enjoy high interest rates on the money thereafter, it would be good to do time deposits (interest rates are listed in the table above).
Best time deposit Hong Kong
The highest return interest rate for time deposits in Hong Kong are Inmotion, welab, za and fusion bank. They range from 0.6-1.5%. You got to catch the right moment 😉 Keep an eye out for promotions and gifts via notifications and emails.
Best bank in Hong Kong for foreigners
The best bank in Hong Kong for foreigners are ones that are easiest to open. Virtual banks like Livi, za, welab and Mox are easy to open as there are no minimum account balance, no account fees and takes 3-5 minutes to fill out the application. You don’t even need to meet anyone in person at a bank! It is all done online. These virtual banks are also insured by the government, just like traditional banks are by 500K.
Welab is known for its highest time deposit interest rates. Inmotion is good for dining and online shopping cash back of 6% (highest in town for both categories).
With Livi, you can get 5% cash back for some websites such as hktvmall, Apple, groceries/supermarket apps. With Mox, you also get 5% cash back but only for some specific restaurants and merchants.
Which bank is best in HK?
Depending if you are looking for the highest cash back with dining, online shopping or looking for the highest interest rates in town. Livi, welab and Inmotion are good choices for those three categories. Mox and za is good for random purchases or at specific merchants and restaurants. They offer 5%-11% cash back at both physical and online stores.
Personally I use a combo of all of the above, but I use Mox the least. After using these virtual banks, I barely touch my traditional bank accounts anymore as the cash back and interest rates are a far cry from the virtual ones. Why lose money when you can get better deals every time you shop or dine?
How do I get the best welcome offers and promo codes?
Follow the links to download the app. Use these codes for your first $600 HKD (for other bands and investment referral codes, refer to the top of the page) and you can then start referring friends:
$900+ referral codes:
Download the app now:
Welab virtual bank: https://www.welab.bank/en/feature/download/
Stay up to date for the best deals via our Facebook page: www.ourhomekong.com/facebook (you can manage notifications settings if you’d like to be notified for all posts)
Best cash back for online shopping and dining in Hong Kong
Inmotion offers 6% cash back for dining and online shopping, making it the highest cash back for dining and online amongst other virtual banks and traditional banks. Livi only offers 5% cash back for some specific online merchants only. All virtual banks in Hong Kong are insured by the government 500K, just like traditional banks (e.g. HSBC and Standard Chartered)
Best virtual banks in Hong Kong: Welcome offers
Keep up to date with new rewards in the Facebook group!