From 5 August 2021 till 31 December 2021, customers who deposit New Fund* in their Savings Account can enjoy 1%p.a. Savings Interest Rate which includes both Basic Interest and Bonus Interest.
*Definition of New Fund
- For existing customers who have successfully opened an account on or before 30 June 2021, New Fund refers to the incremental balance when comparing the latest deposit balance with customers’ day-end balance as of 30 June 2021.
- For customers who have successfully opened an account after 30 June 2021, New Fund refers to the account balance.
Example 1
Customer’s day-end balance on 30 June 2021: HK$10,000
Customer’s day-end balance on 5 August 2021: HK$610,000
New Fund Amount: HK$600,000
Total Deposit Balance (HK$) |
Daily Interest Amount (HK$) |
---|---|
First $500,000 | Old Fund: $10,000*0.6%/365 = $0.16 New Fund: $490,000*(0.6%+0.4%)/365 = $13.42 |
Above $500,000 | Old Fund: 0 New Fund: $110,000*(0.01%+0.99%)/365 = $3.01 |
Example 2
Customer’s day-end balance on 30 June 2021: HK$800,000
Customer’s day-end balance on 5 August 2021: HK$2,000,000
New Fund Amount: HK$1,200,000
Total Deposit Balance (HK$) |
Daily Interest Amount (HK$) |
---|---|
First $500,000 | Old Fund: $500,000*0.6%/365 = $8.22 New Fund: 0 |
Above $500,000 | Old Fund: $300,000*0.01%/365 = $0.08 New Fund: $1,000,000*(0.01%+0.99%)/365 +$200,000*0.01%/365
= $27.45 |
What’s more! Customers can enjoy an array of benefits through PAOB’s personal banking experiences with ease:
Seamless fund
transfer experience
transfer experience
No fees nor
minimum account
balance requirement
minimum account
balance requirement
Enjoy 24/7
banking services
banking services