5 Best Savings Accounts in Hong Kong [2026]

Bertrand Théaud

31 Oct 2025

Looking for the best savings account in Hong Kong? With so many options, it can be tricky to choose the right one for your needs. To help you out, we’ve reviewed the top savings accounts for 2026, comparing interest rates, fees, and features. This guide will help you find an account that aligns with your financial goals.

Note: All information provided below is accurate as of October 2025 and may have been updated since. Banks may change their interest rates at any time at their discretion. Please check each bank’s website for the latest information.

1. PAO Bank Savings Account

PAO Bank Limited (PAObank) is one of the 8 digital banks in Hong Kong. It is a wholly-owned subsidiary of Lufax Holding Ltd. and part of the Ping An Insurance Group. PAObank offers digital banking services, including personal savings accounts and time deposits.

Both the savings account and time deposits support HKD, USD, and CNY. Time deposits offer flexible fixed terms ranging from 1 to 12 months and can be managed 24/7, anytime and anywhere.

Key Details About PAO Bank Savings Account

Interest Rates	Savings Account HKD: 0.88% p.a. USD: 2.2% p.a. CNY: 0.1% p.a. Time Deposit HKD: 1.10% – 2.60% p.a. USD: 3.0% p.a. CNY: 0.10% – 0.50% p.a.
Deposit Requirement	❌
Monthly Fee	❌
Early Withdrawal Fee	For Time Deposits: 1% of the deposit, or HKD/CNY 1,000, or USD 130, whichever is higher.
Eligibility	• 18 or older • Hold a valid Hong Kong Identity Card (HKID) • Have a Hong Kong phone number and residential address • Not a U.S. resident, Green Card holder, or resident alien
Other Account Features	Instant transfers from your account.
Account Opening	Open your account through the PAObank App using your mobile number and either a Hong Kong Identity Card or a Mainland Resident Identity Card.

Pros and Cons of the PAO Bank Savings Account

✅ Pros

No monthly fees or deposit requirements makes it accessible for small savers or beginners
Decent base rate

❌ Cons

Up to 1% early withdrawal fees
No physical branches, which may be inconvenient for users who prefer in-person support

2. Citi Plus® Interest Booster Account

Citi Plus® is Citibank Hong Kong’s wealth management account, equipped with digital banking tools and a range of banking services and products, including savings, investments, and insurance.

A key savings account is the Citi Plus® Interest Booster Account, which lets clients earn higher interest by completing everyday “missions,” such as maintaining a minimum balance, making purchases, and investing with Citi. All bonus interest rates earned during the current month will be applied to your account balance in the following calendar month.

Key Details About Citi Plus® Interest Booster

Interest Rates	0.42% – 1.92% p.a. • 0.42% p.a. base interest rate • Fund In, Maintain Balance, Spend: +0.3% p.a. • Invest, FX & Get Insured: +0.6% p.a. Up to 1.92% on the first HKD 300,000
Deposit Requirement	❌
Monthly Fee	❌
Early Withdrawal Fee	We could not find the information.
Eligibility	• Hold a Hong Kong Permanent Identity Card • Reside in Hong Kong with a Hong Kong correspondence address • Are between 18 and 64 years old
Other Account Features	Earn 1% cashback on the Citi Plus Debit Mastercard® for the first 6 months, and 0.5% cashback thereafter. Track your rate and mission progress in app.
Account Opening	You can apply for a Citi Plus account via the Citibank website or mobile app. You will need your HKID, proof of address, and a piece of white paper for your signature.

Pros and Cons of the Citi Plus® Interest Booster Account

✅ Pros

Fair base rate at 0.42%, with options to earn more
No monthly fees or minimum balance make it easy to keep the account without worrying about extra costs
The applicable card gives cashback on everyday spending

❌ Cons

Higher rates take extra effort, not suited for passive savers
Limit on the amount that earns the top rate means users with large balances can’t fully maximise their interest
Interest is paid the following month, delaying access and reducing short-term growth

3. DBS ProSaver Account

DBS Bank (Hong Kong), a licensed bank and subsidiary of Singapore-based DBS Bank, offers a wide range of banking products and services. These include savings accounts, multi-currency savings with up to 14 currencies, and the ProSaver Account.

The DBS ProSaver allows you to deposit and withdraw funds freely while helping you set clear savings goals. You can choose a term of 6 to 18 months. During this period, you earn basic interest, and once you reach your savings goal, you receive bonus interest on top of that. If you make an early withdrawal, you will still receive the basic interest, but not the bonus interest. Interest is calculated daily.

Key Details About DBS ProSaver Account

Interest Rates	Basic Interest: 0.125% p.a. Bonus Interest: 3-month term: Up to 0.5% p.a. 6 to 18-month term: Up to 0.26% p.a. Highest combined rate: 0.625% p.a.
Deposit Requirement	Set your own goal
Monthly Fee	HKD 200 if the balance is below HKD 200,000 over 3 consecutive months*
Early Withdrawal Fees	❌
Eligibility	To be eligible, you should be: • A Hong Kong Permanent Resident aged 18 or above • Not a US Resident, US citizen, or holding a US Permanent Resident Card (Green Card)
Other Account Features	Transfer or top up funds in DBS digibank. View your account via DBS iBanking, the DBS digibank HK app, or your bank statement. Use the online calculator to estimate potential savings based on your balance and time frame.
Account Opening	Open a ProSaver Account via the DBS digibank HK app only.

*While there is no specific public information on fees for the DBS ProSaver account, standard DBS accounts in Hong Kong generally charge a monthly fee of HKD 200.

Pros and Cons of the DBS ProSaver Account

✅ Pros

Save and earn with a clear goal
No penalty for early withdrawals, giving you flexibility without losing all your returns
You can open an additional multi-currency savings account on the same platform
Daily interest calculation helps your balance grow steadily

❌ Cons

You’ll need to maintain a minimum balance to avoid a monthly fee, which may not suit smaller savers
Bonus interest rates are modest compared to the bank’s occasional promotional rate

4. Mox Bank Account

Mox Bank, backed by Standard Chartered, is a virtual bank that operates entirely online without physical branches, providing all services, including customer support, digitally. They offer various financial products, including savings accounts and time deposits.

With Mox Bank Smart Saving, you can earn interest on deposits in both domestic and foreign currencies. Interest is calculated daily. There’s no limit to how much interest you can earn, and the rate is the same no matter how much money is in your account. On top of that, you receive instant rewards, either cash or Asia Miles, when you make a deposit.

Key Details About Mox Bank Account

Promotion	Register for a FlexiBoost Account between October and December and enjoy interest rates from 1.8% to 3.5%.
Interest Rates	USD savings: 0.25% p.a., calculated daily HKD savings: 0.125% p.a., calculated daily Other foreign currency: 0.01% p.a., calculated daily
Deposit Requirement	HKD 1 or USD 1
Monthly Fee	❌
Early Withdrawal Fee	❌
Eligibility	You must be at least 18 years old, hold a Hong Kong Identity Card (HKID), and have a Hong Kong address.
Other Account Features	Separate Goals sub-accounts for setting aside funds for different purposes Receive notifications for account activity
Account Opening	You can complete the application within the Mox app using your HKID and Hong Kong residential address.

Pros and Cons of the Mox Bank Account

✅ Pros

No minimum or maximum deposit, plus daily interest calculation, make it easier to grow your savings over time
Sub-accounts for goals make budgeting simpler
Withdraw your money anytime without losing interest or paying a penalty, giving you more flexibility

❌ Cons

No physical branches, which might not suit those who prefer in-person services
The rates outside the promotional period are modest compared to other options

5. CCB Step Up Savings Account

China Construction Bank (Asia) offers a range of savings products, including regular savings, premier savings, and time deposits. Regular savings accounts typically offer low interest rates, from around 0.01% (for HKD 5,000) up to 0.4% (for HKD 200 million). However, the Step Up Savings Account is a special product that offers more attractive rates.

The Step Up Savings Account allows customers to earn progressively higher interest over a three-month period on deposits in HKD, USD, or RMB. The interest is credited to the account at the end of each month.

Key Details About CCB Step Up Savings Account

Interest Rates	HKD: 1.00% – 2.5% p.a. USD: 1.5% – 3.5% p.a. RMB: 0.5% – 1.5% p.a.
Deposit Requirement	HKD / RMB: 5,000 USD: 10,000
Monthly Fee	We could not find the information.
Early Withdrawal Fees	We could not find the information.
Eligibility	We could not find the information.
Other Account Features	You can select your preferred currency and open more than one account in different currencies.
Account Opening	Open via the bank’s online banking or mobile banking app. Customers must deposit into the account within 6 calendar days after enrolling in the offer.

Pros and Cons of the CCB Step Up Savings Account

✅ Pros

Earn more the longer you keep your money in the account
Multi-currency options (HKD, USD, RMB) provide flexibility for diversified holdings
Decent base rates even at the lower tier

❌ Cons

Progressive rate only apply for 3 month
Higher minimum deposit requirements may be a barrier for small savers
Lack of clarity on monthly fees and early withdrawal penalties makes it harder to evaluate the full cost

High-Yield Savings Accounts in Hong Kong Comparison

The table below ranks our top pick for five savings accounts in Hong Kong by their recent maximum possible savings interest rate.

Account	Max Rate (HKD)	Min Rate (HKD)	Deposit Requirements (HKD)
Mox Bank Account	3.5% (promo)	0.125%	HKD 1
PAO Bank Savings Account	2.60% (time deposit)	0.88%	❌
CCB Step Up Savings Account	2.5%	1.00%	HKD 5,000
Citi Plus® Interest Booster	1.92%	0.42%	❌
DBS ProSaver Account	0.625% (combined)	0.125%	Set your own goal

Key Factors to Consider When Choosing a Savings Account

Savings accounts are a secure way to grow your money. While interest rates are often a key consideration, there are other important factors to check to ensure the account meets your needs.

Minimum Balance

Some banks require you to maintain a certain deposit amount, minimum balance or certain total relationship balance to earn interest. Falling below this can even cost you a service fee for maintaining the account. These can cost more than expected, either in fees or lost interest.

Many banks also pay higher interest once your balance reaches certain tiers, such as HKD 1,000, HKD 50,000 or HKD 100,000.

It’s a good idea to set balance alerts or automatic transfers to keep your account above the minimum. Accounts with no minimum balance can be useful if you need flexibility, but the best minimum balance is one you can maintain comfortably while still getting solid returns.

Tiered Interest Rates

Many banks offer tiered interest rates. This means different portions of your balance earn different rates. For example, the first HKD 100,000 might earn 1.0% p.a., while the next HKD 100,000 earns 0.5% p.a., and anything above HKD 200,000 earns 0.05% p.a.

Understanding these tiers is critical. If your bank offers a good rate on the first HKD 50,000 but then drops significantly, it might be wise to keep that initial amount there and move excess funds to another account with a better rate for higher balances.

Interest Calculation and Payment Frequency

How often your bank calculates and pays interest matters, whether it’s daily, monthly, quarterly, or annually. The more often interest is added to your balance, the faster your money grows because each payment starts earning interest right away. This affects your actual earnings over time.

Deposit Protection

Even though banks are generally safe, failures and fraud can happen. Deposit protection schemes safeguard your money if a bank collapses.

In Hong Kong, most banks participate in the Deposit Protection Scheme (DPS), covering up to HKD 800,000 per depositor. Note that certain deposit types, such as some foreign currency deposits or structured products, may not be eligible. Always verify whether your account type is under the deposit protection and read the Risk Disclosure, usually displayed at the bottom of the page.

Promotion

Promotional rates can provide a significant short-term boost to your returns, often much higher than regular savings rates. However, it’s important to read the fine print carefully. Take note of:

The promotional period and what happens once it ends
Minimum balance requirements
Deposit limits, as the special rate may only apply up to a certain amount
Eligibility conditions, since some offers are limited to new customers, new funds, specific opening balance or specific deposit types. In some cases, banks may also provide higher bonus interest rates if you use their other products, typically spending on cards and subscribing to insurance plans.

For example, PAO Bank offers up to 18% p.a. on a 1-month time deposit for new customers using a referral code. DBS have previously offered rates as high as 4.9%–6%. Both are limited-time promotions.

Currencies

Many savings accounts in Hong Kong offer savings options not only in Hong Kong Dollar (HKD) but also in Renminbi (CNY) and US Dollar (USD). Some even go further, allowing deposits in other foreign currencies such as GBP or AUD. Consider what you actually need as accounts that support multiple currencies may come with additional fees.

Other Features and Services

Consider additional services offered by the account or bank, such as internet banking, cash withdrawal via ATMs, linked debit cards and credit cards with cash rebate programs, integration with a current account plus overdraft, phone banking, cheque. travel insurance, and more.

Final Thoughts

From high-yield options to flexible accounts, Hong Kong offers savings accounts for every type of saver. Fundamentally, a savings account should protect your funds, allow them to grow, and ensure you can access them when needed.

Before choosing an account, consider your financial goals. Are you saving for a home down payment in two years, an emergency fund for six months, or building long-term wealth? Short-term goals often benefit from accessible, high-interest accounts (often promotional offers) while long-term goals may call for time deposits or investment products.

Ultimately, the best savings account is the one that fits your goals.