Hang Seng increases HKD prime rate and savings rate starting 5 May

Amongst considerations in the adjustments is interbank rates.

Due to uncertain economic conditions, Hang Seng Bank declared that it will raise its Hong Kong dollar prime lending rate by 12.5 basis points from 5.625% p.a. To 5.75% p.a.

The changes will be effective starting 5 May 2023.

Diana Cesar, executive director and chief executive of Hang Seng, said the HKD rate will be adjusted due to the macroeconomic environment, cost of funding, interbank rates, and the aggregate balance in Hong Kong’s banking sector.

The Bank’s Hong Kong dollar savings deposit rates for an account balance of $5,000 or above will also grow from 0.625% p.a. to 0.75% p.a. 

Here are the revised savings rates:

Account Balance (HK$)  Interest Rate Per Annum

150,000 or above 0.75%

10,000 to 149,999 0.75%

5,000 to 9,999 0.75%

Below 5,000 0%

The bonus interest rate for Hong Kong dollar savings account balances under integrated accounts with a total relationship balance of HK$1 million or above will remain unchanged at 0.001% p.a.

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


‘Wall-less’ office tears down barriers to collaboration amongst AnyMind’s creatives
The office opens up for employees to collaborate, relax, feed off one another’s energy, and enjoy ‘happy hour’ and ‘mental space.’
Auction houses thrive on Asian millennials’ art-buying power
Millennials are seen to be particularly drawn to contemporary art as growth for Christie’s, Sotheby’s, and Phillips are highly anticipated in art hubs Hong Kong and Singapore.
Hong Kong’s livi bank launches game-changing app for SMEs
Going fully digital on opening accounts and approving quick loans to SMEs raises ‘livi Business’ disbursements to over HK$70m (US$8.9m) as of end-April.