Hang Seng Time Deposit

Business Banking > Bank Accounts > Current Promotion Offer

Hang Seng Bank’s diversified time deposit and exchange services help you to capture higher interest rates in a low interest rate environment. You can enjoy our time deposit and exchange services via our Business Partner Direct or any branches for convenience.

During “Promotion Period”(1), simply place a time deposit in the designated currencies with “New Fund”(2) to enjoy a preferential interest rate(3) of up to:


Premium on Exchange Rate of Up to 160 Basis Points
Convert HKD into designated foreign currencies to enjoy a preferential exchange rate(4) :

Designated Foreign Currencies
Premium on Exchange Rate of up to (basis points)
AUD
40
NZD
40
CAD
40
GBP
160



Terms and Conditions:
(1) The promotion period is from now until 29 November 2008 (“Promotion Period”).
(2)
“New Fund” refers to fund newly deposited into the Bank using a cheque drawn on any other bank, inward CHATS or T/T during the Promotion Period, thereby increasing the aggregate deposits placed by the customer with Hang Seng Bank Limited (the “Bank”). For clarification of the definition of "new fund", please contact our bank staff. In case of any disputes in relation to the definition of "new fund", the decision of the Bank shall be final.
(3)
AUD, NZD, CAD and GBP are collectively called the "designated currencies".
Tenor
Preferential Interest Rate ( Board Rate + )
 Condition
1 - 3 months
+1.4%p.a.
 Only applicable to commercial customers who place a designated currencies time deposit from HKD50,000 to HKD5,000,000 equivalent and in a tenor from 1 to 3 months
(1) with "New Fund" in the designated currencies or
(2) by converting HKD “New Fund” into designated currencies
1 - 3 months
+1.2%p.a.
 Only applicable to commercial customers who convert the existing HKD deposits into designated currencies and place in a designated currencies time deposit from HKD50,000 to HKD5,000,000 equivalent and in a tenor from 1 to 3 months

The above preferential interest rates of designated currencies are quoted based on interest rate of the Board Rate plus 1.4%p.a. for placing time deposits in designated currencies with New Fund amounted HKD1,000,000 equivalent and in a tenor of 3 months. Interest rate as at 14 Nov 2008 are quoted by the Bank, which is for reference only. The actual interest rates will be subject to the rate quoted by the Bank from time to time.

The preferential interest rate offer is only applicable to the transactions conducted via the appointment made with Business Partner Direct and any branches of the Bank, and not applicable to the renewal of the existing time deposits in the AUD / NZD / CAD / GBP nor to the transactions conducted via Hang Seng e-Banking.
(4) Commercial customers who maintain Prestige Banking Account are eligible to enjoy a premium of up to 160 basis points on exchange rate for exchanging GBP, and a premium of up to 40 basis points for exchanging AUD, NZD, and CAD. Commercial customers who maintain Preferred Banking, Integrated Account and Integrated Business Solution Account are eligible to enjoy a premium of up to 150 basis points on exchange rates for exchanging GBP, and a premium of up to 30 basis points for exchanging AUD, NZD and CAD. Commercial Customers who maintain other than the Prestige Banking, Preferred Banking, Integrated Account and Integrated Business Solution Account are eligible to enjoy a premium of up to 100 basis points on exchange rates for exchanging GBP, and a premium of up to 20 basis points for exchanging AUD, NZD and CAD. The above offers are only applicable to the conversion of HKD to designated currencies or vice versa, and not applicable to conversion between foreign currencies.

Remarks:
•
Interest rates and exchange rates are subject to review according to changes in market conditions from time to time. The Bank reserves the right to change the above interest rates and exchange rate offers at any time. Before making the relevant transaction, please check with our staff for the effective rates of the transaction. Fluctuations in the exchange rate of a foreign currency may result in gains or losses in the event that the customer converts a time deposit from the foreign currency to HKD upon maturity.
•
The above offers cannot be used in conjunction with other exchange rate offers or preferential interest rate for the same currency.
•
The Bank reserves the right to change the above terms and conditions or offers or terminate the offers at any time without prior notice. In case of disputes over the above terms and conditions or offers, the decision of the Bank shall be final.