Investing in a fixed deposit is an excellent way to make money work for you. A fixed deposit account is an investment account that offers a higher interest rate than a regular demand deposit account. A fixed deposit also provides investors with fixed and guaranteed returns after the lapse of a specified period.
Here is a list of Taiwan bank that offer the best rates:
Citibank is renowned all over the world and is extremely reliable. It offers an interest rate of up to 0.94% for a 3-year time deposit, and only requires a minimum balance of 50,000 TWD. This bank is well-established and trusted by investors and businesses worldwide.
The HSBC group started its operations in Taiwan as early as 1865, but HSBC Taiwan bank was only established in 2010. HSBC is also famous worldwide. In fact, it is one of the largest financial institutions in the world. It offers an interest rate of up to 1% on fixed deposits for a 2-year period for deposits under 3 million TWD.
Bank of Taiwan
The Bank of Taiwan was established in 1946 and is owned by the Chinese government. It offers fixed deposit interest rate of up to 0.28% for a 3-year time deposit period. Bank of Taiwan requires a balance of 5 million TWD or more.
Citibank and HSBC are the two of the best Taiwan banks to consider if you plan to invest in a fixed deposit. Both banks also have an established presence across the globe.