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Explore more Savings accountCompare DBS Bank Accounts in Hong Kong 2024
Search for the best DBS bank accounts to align with your personal saving goals and earn fixed deposit interests.
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Best High Interest Savings Account in HK
| High Interest Savings Account | Highest Interest Rate | Minimum Initial Deposit |
|---|---|---|
| Citi Plus Account | 2.4% p.a. | HK$0 |
| WeLab Bank Core Account | 0.1% p.a. | HK$0 |
| ZA Bank Savings Account | 0.31% p.a. | HK$0 |
| Citigold Account | 3.5% p.a. | HK$1,500,000 |
Types of Bank Account
Banks in Hong Kong offer a number of bank accounts such as savings account, current account, time deposits accounts for your varying banking needs.
Savings Account
Savings account provides interest - and lets you withdraw your funds at any time with no penalty.
Current Account
Current account does not provide account holders with interest, but lets you make payment with cheques.
Fixed / Time Deposit Account
A fixed or time deposit account gives you a higher rate of interest on the funds you agree to keep at the account for a fixed period of time.
Account opening - Documents & Requirements
If you're a non-resident, you are required to provide a passport and proof of address in your home country. You may also be required to provide additional documents, such as letters of employment.
How to open a bank account online?
Even if you are not a permanent resident in Hong Kong, you can still open a bank account in Hong Kong. If you are an EU, US or Australian passport holder, the entire process should not be complicated. It can take up to 2 weeks to complete the entire account opening process. However, you won’t be able to open a bank account remotely because you need to prove your identity as a result of increased amounts of money laundering and other illegal activities. You are required to make an appointment and attend a branch in person to open your account.
Learn more about savings account:
FAQ
Can foreigners open bank accounts in HK?
- Yes. Foreigners can open bank accounts in HK.
What is the average interest rate of savings accounts in HK?
- The average interest rate of savings accounts in HK is 0.001% only. However, you can apply for a high interest savings account such as Citibank Plus Savings Account to earn as high as 4.8% interest.