[Khema]

I noticed the HSBC savings rate offered in HK is quite low (under 2% - even for Premier customers) - compared to the one I get in London of 4.25%... where do you guys keep your savings over here? not equities please, something less risky... and available to non-permanent HK residents. thanks!

[KnowItAll]

4.25% for HK$ accounts?

[Khema]

oups... 4.25% for the GBP account in the UK

OK fair enough, I must be more specific: what are the rates for EUR- and GBP- denominated savings accounts in HK?

[nivantj]

HangSeng
http://main.hangseng.com/eng/mar/onr/fcdr/index.html
HSBC
http://www.hsbc.com.hk/script/hk/per...aultb.asp#fold

[Khema]

thanks for the links... do you guys buy bonds over here?

[tsuiwah]

hey, when did interest rates go up at the banks? I was almost getting used to the 0.01% that was offered last year.

[nivantj]

Tsuiwah,
Prime rate and saving rate are rocketing (Ok..well a bit slower than that) during last six months... Get ready for another hike in short term.

[Jessica Adams]

I think: for normal savings in the bank, you won't get much... so there's no point there really. For short term, I either do TIME DEPOSIT (I cannot remember the rate - better check it with banks) or Time investment (the minumum they do is 5 years - which means you contribute a certain amount of money every month and the company run the money for you.... then you will get a large sum at the end - it bears risks of course but the risk is very low). Some "stock" with lower risk can be considered (but you have to have sharp eyes though!) I can give you more infos by PM if you want. Don't be mistaken that I am an agent (I'm not) - I am only telling you how do I "save".

[PDLM]

khema,

I buy quite a lot of UK Bonds from National Savings: Premium Bonds and Guaranteed Equity Bonds mainly. You can do it remotely on their website using the Switch card on your UK bank account.
http://www.nsandi.com

[dchp0]

So aside from HSBC/Hang Seng ...

What other institutions allow for term deposits - in AU at the moment a 12 month deposit with min of 30k HKD is about 5% .... 500kHKD is about 5.75% for 12 months...

What are the names of places that I can deposit some cash into for 12/24+ months?

Thanks,
-DB-