Hong Kong banks raise HKD best lending rate for first time since 2018
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Hong Kong banks raise HKD best lending rate for first time since 2018
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Hong Kong banks raise HKD best lending rate for first time since 2018

 

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HSBC will raise the Hong Kong Dollar Best Lending Rate by 12.5 basis points, from 5% to 5.125%, starting from 23 September, marking the bank’s first hike of the rate since 2018.

Meanwhile, HSBC will lift the interest rate on Hong Kong Dollar savings accounts by 12.4 basis points.

Standard Chartered Bank (Hong Kong) Ltd said that its Best Lending Rate will be raised by 12.5 basis points to 5.375% per annum from 5.25% per annum, from Sept 23, 2022.

The bank’s interest rate on Hong Kong Dollar savings deposit will increase to 0.125% per annum from 0.001% per annum, effective on 26 September, it said.

Hang Seng Bank said it will raise its Hong Kong Dollar Prime Rate by 12.5 basis points from 5% per annum to 5.125% per annum, starting from next Sept 27th.

The bank’s Hong Kong Dollar savings deposit rates for an account balance of HK$5,000 or above will also be increased from 0.001% per annum to 0.125% per annum, it said.