Martin Lee @ Sg
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HSBC Renminbi Fixed Deposit

HSBS has started offering fixed deposits in Renminbi available to retail customers.

For a one year term, the interest rates ranges from 0.28% (<350,000 CNY) to 1.28% (>5 mil CNY) depending on the amount.

You can check the latest rate at the HSBC foreign currency fixed deposit page.

The Advance and Premier customers of HSBC would enjoy a higher interest rate for 3 or 6 month terms.

Deposits has to be made in a non-Renminbi currency which will be converted to the Renminbi based on the bank’s prevailing rate. Withdrawals has to be by way of foreign exchange conversion into non-rmb denominated currency.

Bank of China (BOC) also offers Renminbi deposits to retail customers on a limited scale.

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3 comments
Josh says 8 years ago

Thanks lion. That being the case, HSBC ads offering CNY is incorrect then? CNY is only availabe in the Mainland Chinese market.

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Josh says 8 years ago

How is it that HSBC is offering CNY currency but all other banks so far are offering CNH? What are the difference between the 2 apart from on/offshore?

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