Top10Grid Ranks The 5 Top 10 Best HKD Time Deposit Rates in Hong Kong May 2026

Key Statistics

Top 5 Rankings

1. 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. 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. 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.

4. 4

   Mox Credit HKD Time Deposit 12-Month Special - Mox Bank

   KEY METRICS: Rate: 4.60% p.a. for a 12-month HKD time deposit. Minimum deposit: HK$1,000. No new funds requirement; can be funded directly from the Mox Deposit account. Interest accrues daily and is paid at maturity. Early withdrawal penalty: forfeiture of 30 days’ interest or the actual interest earned, whichever is lower. This rate is a limited-time offer valid until 31 May 2026. OVERVIEW: Mox Bank, backed by Standard Chartered, HKT, PCCW, and Trip.com, offers a rare high-rate 12-month deposit without punitive minimums. The 4.60% p.a. rate outperforms many brick-and-mortar banks for the same tenor, making it a set-and-forget option for conservative savers. Mox’s sleek app, integrated with FPS and the Mox Credit card ecosystem, simplifies daily banking. The 12-month lock-in at this level may appeal to those anticipating HIBOR to ease in 2027. KEY BENEFITS: Pros: solid 12-month rate without tying up large sums; low minimum of HK$1,000; no new funds hassle; early withdrawal penalty is capped, so not catastrophic; interest credited clearly in app; Mox Deposit account earns 0.50% p.a. on idle balance, so unplaced funds still yield something; fully digital account opening and management; HKMA-authorised and deposit-protected. ELIGIBILITY: Open to all Hong Kong residents aged 18+ with HKID. Mox account can be opened entirely through the app. No minimum income or balance required. The time deposit can be set up within the Mox app under ‘Grow’ > ‘Time Deposit’ and funded from the linked Mox Deposit account. DRAWBACKS: Cons: rate is slightly lower than some 6-month promos elsewhere, but the longer duration locks it in; early termination penalty, though capped, still reduces net interest; interest is not paid periodically, so no cash flow; maximum allowed deposit per customer may be capped at HK$5,000,000 for this promo; as a virtual bank, no over-the-counter cash services; customer service is primarily chatbot and phone, which can be slow during peak. DISCLAIMER: Rates are indicative and subject to change. Verify current rates directly with the bank. Based on publicly available information as of May 2026.

5. 5

   WeLab Bank 6-Month HKD GoSave Time Deposit - WeLab Bank

   KEY METRICS: Base rate: 4.50% p.a., but with a ‘Boost’ code in the WeLab Bank app, users can earn 4.85% p.a. for 6 months. Minimum deposit: HK$10,000. No new funds condition for the base rate; Boost rate requires fresh funds deposited into the core account within 30 days before placement. Maximum boost rate applicable to the first HK$1,000,000. Interest paid at maturity. OVERVIEW: WeLab Bank’s GoSave product combines social elements with deposit savings, allowing friends to boost rates. In May 2026, the bank is offering a solo boost code to all users that pushes the rate to a market-leading 4.85% for a 6-month term. This hybrid model encourages app engagement and rewards those who bring funds from other banks. With the HKMA’s approval, WeLab Bank has been expanding its lending and deposit base, making its time deposits a worthy contender. KEY BENEFITS: Pros: boosted rate rivals short-term digital bank offers while enjoying a longer tenor; relatively low minimum of HK$10,000; no monthly service fees; easy to fund via FPS from e-wallets or other banks; WeLab Bank app provides clear tracking of interest earned; early withdrawal allowed but with penalty (forfeiture of all interest earned, but principal safe); deposit protected up to HK$500,000. ELIGIBILITY: Hong Kong residents aged 18+ with HKID can open a WeLab Bank account online. To qualify for the boosted rate, users must apply the in-app promotion code during placement and ensure the deposit comes from an external source (funds not held in WeLab Bank 30 days prior). The code is often sent via push notification or email; general availability is broad. DRAWBACKS: Cons: if the boost quota is exhausted, the rate reverts to 4.50%, which is still competitive but less attractive; early closure results in complete interest loss, so liquidity is constrained; the boost code may require specific opt-in steps, which can be confusing; interest is only paid at maturity with no monthly payout option; for amounts above HK$1,000,000, the excess earns standard rate; no physical network. DISCLAIMER: Rates are indicative and subject to change. Verify current rates directly with the bank. Based on publicly available information as of May 2026.

View the full ranking at https://dev.top10grid.com/top-10-best-hkd-time-deposit-rates-in-hong-kong-may-2026