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Remittance |
Hong Kong Branch provides remittance services for our customers to remit currencies in and out of the mainland and overseas and to make cheque clearing.
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Deposit |
Our deposit services include saving deposit, time deposit and call deposit. We also provide structured deposit tailor-made to clients’ investment returns requirements, but clients have to bear related risks.
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Saving Deposit |
It allows the depositors to withdraw money at any time, and the interest is calculated on the remaining balance of the account on a daily basis.
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Time Deposit |
The fixed period deposit ranges from 7 days, one month to one year.
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Call Deposit |
Depositors can make withdrawal following a 24-hour notice to the bank.
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Offshore Deposit
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The money is placed in an account outside Hong Kong. |
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Callable Deposit
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The bank has the option to cancel the deposit before its date of maturity. Interest rates are thus higher than time deposit.
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Capped Floater
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Floating rates and interest margin are used as reference for calculating the interest rates, which will be capped and stated in the contract.
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Interest rates are based on a pre-set fixed rate minus the floating rate (such as HIBO). Running in opposite to the floater, this type of deposit offers a higher interest rate when the market rates are going on a down trend, and is thus particularly appropriate for those who are gloomy about the interest rates trend. Usually, this type of deposit will be capped with a zero interest rate to ensure depositors loss-free.
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Range Accrual Deposit
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Actual returns will be based on the trend of the benchmark for floating interest rates. If the benchmark is set within the floating range, the bank has to pay the interest on the rate of transaction day to the depositors, and if not, the interest will be zero.
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High-interest Currency Linked Deposit
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Depositors can choose two among a basket of currencies as the deposit and link currencies (one of which needs to be the Hong Kong or the US currency). They have to pre-set an exchange rate as the basis of comparison upon contract maturity. The bank has the option to settle the deposit together with the interest using a weaker currency. If the value of the linked currency appreciates, depositors can enjoy a higher interest rate.
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Risk Disclosure Statement
Earnings on the Currency Linked Deposit are limited to the nominal interest payable. As the Deposit and its earnings will be paid in the Deposit Currency or the Linked Currency, whichever has depreciated against the other, you will bear the potential losses due to depreciation. If the Currency Linked Deposit is withdrawn before maturity, you will also have to bear the costs involved. Such losses and costs may reduce the earnings and the principal amount of the Currency Linked Deposit. You should seek professional advice for further details on the risks involved where necessary.
Disclaimer
This information should not be regard as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. The information contained herein is not intended to provide professional advice and should not be relied upon in that regard. You are advised to obtain appropriate professional advice where necessary. The information is subject to change without notice.
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