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Top 10 Best HKD Time Deposit Rates in Hong Kong May 2026
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#1
ZA Bank 1-Month GoSave HKD Time Deposit - ZA Bank
KEY METRICS: Base rate: 4.50% p.a. for 1-month tenor, but exclusive 5.20% p.a. special rate available via in-app promo code 'MAY2026' for selected users. Minimum deposit: HK$1. No new funds requirement; funded from existing ZA Bank savings balance. Interest paid at maturity. No early withdrawal allowed. Rate effective as of 10 May 2026. OVERVIEW: ZA Bank’s GoSave feature continues to lead the market by democratising time deposits. This 1-month product offers the highest liquidity-to-yield ratio in Hong Kong, ideal for those who want to park idle cash while awaiting better opportunities. Unlike traditional banks that demand HK$10,000–HK$100,000 minimums, ZA Bank allows any amount from HK$1, making it the top choice for mass-market savers. The platform’s real-time rate updates and zero-fee structure have made it a benchmark for digital banking in Hong Kong. KEY BENEFITS: Pros: ultra-low entry barrier (HK$1) accommodates all depositors; promotional rates via app keep yields above traditional banks; seamless account opening with HKID facial recognition; no lock-in beyond the chosen tenor, with proceeds automatically credited back to ZA Bank settlement account upon maturity; 24/7 deposit creation from mobile app; protected under Hong Kong Deposit Protection Scheme up to HK$500,000. ELIGIBILITY: Open to all Hong Kong residents aged 18+ with a valid HKID. ZA Bank account can be opened entirely online in minutes. No minimum balance, no payroll linkage, and no new-funds restriction for the base rate. To unlock the 5.20% promo rate, customers must activate the in-app offer during the campaign period (1–31 May 2026) while funding the deposit from the ZA Bank wallet. DRAWBACKS: Cons: maximum deposit capped at HK$500,000 per placement for promo rate earning; 1-month tenor means rate resets frequently, exposing savers to reinvestment risk if market rates fall; interest is not compounding; the promotional rate may not be available to all users and is subject to quota limits; no physical branch support for cash deposits. DISCLAIMER: Rates are indicative and subject to change. Verify current rates directly with the bank. Based on publicly available information as of May 2026.
#2
Fusion Bank 3-Month HKD Time Deposit New Fund Offer - Fusion Bank
KEY METRICS: Promotional rate: 4.80% p.a. for 3-month tenor if placed with new funds. Standard rate: 4.30% p.a. Minimum new funds deposit: HK$10,000. No minimum balance requirement for the Fusion Bank savings account. Online placement only via Fusion Bank app. Rate valid for first HK$500,000; amount above that earns 0.10% p.a. OVERVIEW: Fusion Bank, a Tencent-backed virtual bank, consistently offers one of the most competitive 3-month HKD time deposit rates, striking a balance between decent yield and moderate lock-up. The new fund condition is straightforward: money not held with Fusion Bank 30 days before the placement date qualifies. This product suits those willing to consolidate external cash into one digital hub. Fusion Bank’s integration with WeChat Pay and its no-fee current account strengthen its ecosystem appeal. The bank is fully licensed by the HKMA and covered under the Deposit Protection Scheme. KEY BENEFITS: Pros: 4.80% p.a. is among the top tier for 3-month deposits in Hong Kong; quick in-app placement in less than 3 minutes; interest paid at maturity; early withdrawal penalty is loss of all accrued interest, but no capital loss; no account maintenance fees; supports FPS for instant top-ups from other banks; new fund definition includes any incoming transfer not previously with Fusion Bank, making it easy to trigger the promo. ELIGIBILITY: Any Hong Kong resident with a valid HKID can open a Fusion Bank account via smartphone. The promotional rate requires funding from a non-Fusion Bank source (e.g., transfer from HSBC, BOCHK). The entire deposit must be placed within the offer period, typically 1–31 May 2026, and evidence of external source may be requested. DRAWBACKS: Cons: the 4.80% rate applies only to the first HK$500,000; amounts beyond earn a negligible rate; no physical branches for cash handling; early termination forfeits all interest, not just a penalty on principal; rate is not fixed if the promotion ends early due to oversubscription; the Fusion Bank app occasionally experiences connectivity issues during peak hours. DISCLAIMER: Rates are indicative and subject to change. Verify current rates directly with the bank. Based on publicly available information as of May 2026.
#3
Citi Priority New-to-Bank 6-Month HKD Time Deposit - Citibank Hong Kong
KEY METRICS: Promotional rate: 4.75% p.a. for a 6-month tenor. Minimum new funds deposit: HK$200,000. The rate is available exclusively to new Citi Priority customers (HK$1,000,000 total relationship balance maintained) opening the account during May 2026. Standard 6-month rate for existing customers: 4.00% p.a. No annual fee for the Citi Priority banking package if balance requirements met, else HK$300/month. OVERVIEW: Citi’s aggressive new-to-bank offer targets mass-affluent clients willing to bring over HK$1 million in assets. The 6-month tenor locks in a still-high rate while HIBOR is expected to gradually decline from peak levels. Citi Priority provides a dedicated relationship manager, global Citibanking perks, and seamless integration with Citi’s wealth management platform. This product ranks third because it offers an excellent risk-return profile for substantial funds, though it requires a significant total relationship commitment. KEY BENEFITS: Pros: high guaranteed rate for half a year; 6-month tenor reduces rollover frequency; no early withdrawal allowed but rate certainty protects against falling rates; preferential forex rates and fee waivers on global transfers; 24/7 phone banking; funds insured under the Deposit Protection Scheme up to HK$500,000; easily funded via FPS from any HK bank. ELIGIBILITY: Applicants must not hold any Citi account in the past 12 months. They must open a Citi Priority account with HK$1,000,000 in new funds (deposits, investments, insurance) and place at least HK$200,000 into this 6-month HKD time deposit. HKID and proof of address required. Account opening can be done online or at any Citi branch. DRAWBACKS: Cons: high total relationship balance requirement; falling below HK$1,000,000 triggers a monthly service fee of HK$300; the promotional rate is only for first deposit; after maturity, funds earn standard call rates unless rolled into another promo; early closure of the Citi Priority account within 6 months may incur a handling fee of HK$200; limited physical branches compared to Bank of China or HSBC. DISCLAIMER: Rates are indicative and subject to change. Verify current rates directly with the bank. Based on publicly available information as of May 2026.