Dah Sing Bank yesterday unveiled a new packaged account offering bonus interest rates to customers depending on the number of services they use.
A minimum deposit of HK$5,000 would be required in the 'i-account' to escape a low-balance fee of HK$40 which would be charged if the balance fell below this level, said general manager Shera Lee.
Under a five-tiered account structure, all i-account customers will earn at least the basic Dah Sing savings rate which will be determined next week once the last interest rate cap on savings deposits is scrapped.
Dah Sing managing director Derek Wong Hon-hing said the bank would 'reserve its position' on announcing the basic rate.
'As one of the banks operating in Hong Kong we will see how the major banks respond. But I will not rule out offering a higher rate,' he said.
Customers using any two Dah Sing banking services (one service in addition to the i-account), will earn the basic rate plus 0.25 per cent and a progressive scale will be applied through to a bonus mark-up of 0.625 per cent.