[wing]

Is there a web site list all the local banks' CD rates ?

I need to buy some CDs (first ever for me in Hong Kong) and any recommendation for the best rate ?

Thx

[freeier]

why not just a normal fixed deposit ? any difference ?
don't think CD is that common an instrument in hk is it ? or in fact, in asia

[KnowItAll]

Rates are bad. I'd recommend doing some money market thing in the US (assuming thats where you're from).

[bruce999]

Originally Posted by wing

Is there a web site list all the local banks' CD rates ?

I need to buy some CDs (first ever for me in Hong Kong) and any recommendation for the best rate ?

Thx

In hong kong CDs are different from time deposits.
time deposits can be setup at any time.
CDs are investment products that are launched from time to time and you can select based on certain rate and maturity.

Frankly I do not totally understand HK's CD but as far as I know time Deposits is what most ppl buy. In HK you can purchase TD on using any currencies and they all carry different rates.

HK BEA
http://www.hkbea.com/hk/index.htm
has excellent USD Time Deposit rate (over 4.6%). it ranges from 1 week to many months/years.

The following currencies time deposits are popular:

USD
AUD
NZD

To purchase any foreign currency Time deposits, you need to understand the trend of the currency. If the rate is very good but there is a high chance the currency would depreciate in value against HKD in the near term, you will wind up loosing more money then the interests can covered. Most of the time the currency fluctuation is as important (if not more) then the interest rate.

Most banked offered linked deposit also.
Say a bank provide you a rate of 4.15% per year in HKD but the linked deposit is linked to AUD. If AUD value (against HKD) is higher when the linked deposit matures, you keep the 4.15% HKD INTEREST and full HKD principle.

If AUD value is lower when the linked deposit matures, you keep the principal and interests in AUD (but the principle at a preset discounted rate(usually a better rate then the market AT THE TIME OF PURCHASE). You will wind up like purchasing and keeping the deposit in AUD.

Some bank are better for certain deposits then others. If you want great rate for USD, I would recommend BEA.

HSBC is a good bank and give good services (if you have over 100000 HKD) and better service when you have over 1 mil in your bank account. However, their TD rate for any currency is not attractive. Linked deposits are ok.

DBS is also a large bank and have decent investment options.
If you are US resident them you will be subject to pay tax in US for your gains here. In that case, USD Time deposits is not that attractive as you can get MM rate better in US. (paypal gives high MM rate and have full liquidity. *yes, I mean pay pal money market)

http://www.paypal.com/cgi-bin/webscr...rcom&outside=1