Airstar Savings Account: Highest Promotional Rate for a Mobile Savings Account

Airstar Savings Account: Highest Promotional Rate for a Mobile Savings Account

A Great Promotional Savings Rate And Easy To Use Mobile Platform

Good for

  • Customers who want to earn consistently high savings rates
  • Customers interested in taking advantage of a high promotional interest rate
  • Customers willing to make the transition to full online/mobile banking

Bad for

  • Customers using currencies outside of HK Dollars, US Dollars, and RMB
  • Customers who prefer visiting physical bank branches for financial assistance
  • Customers who need fast cash withdrawals

Editor's Rating

4.0/5.0

Online bank Airstar's savings accounts are certainly not the most convenient or versatile savings accounts in Hong Kong, but they offer customers unbeatable savings rates across all income levels. To elaborate, customers who choose to save with Airstar will earn at minimum 100-times the average interest rate of 0.0010% offered by most major banks in Hong Kong. In addition, Airstar offers a fantastic promotional rate of 3.6% for new customers' initial deposits under HK$20,000. Customers who hope to maximize their returns from savings will find Airstar an enticing option.

ProsCons
  • Savings rates across the board are among the highest in Hong Kong
  • Attractive promotional offer for the first HK$20,000 deposited into savings
  • Platform also supports time deposits and loans
  • Cash withdrawal is only available after funds are transferred to local bank accounts
  • Only foreign currencies compatible with the account are USD and RMB
Promotion From 1 January 2021, new customers who open an Airstar savings account can earn a promotional savings rate of 3.6% for the first HK$20,000 deposited.
Pros & Cons
Pros:
  • Savings rates across the board are among the highest in Hong Kong
  • Attractive promotional offer for the first HK$20,000 deposited into savings
  • Platform also supports time deposits and loans
Cons:
  • Cash withdrawal is only available after funds are transferred to local bank accounts
  • Only foreign currencies compatible with the account are USD and RMB
  • Promotion From 1 January 2021, new customers who open an Airstar savings account can earn a promotional savings rate of 3.6% for the first HK$20,000 deposited.

What Makes the Airstar Savings Account Stand Out?

Airstar's savings accounts truly stand out compared to its competitors with consistently high savings rates. This applies not only to its promotional rate, but also its normal rate for deposits across all income levels, as well as foreign currency deposits. Even though there are quite differences in Airstar's rates based on account balances, all of the offered rates are significantly higher than most competitor rates.

Moreover, the bank seems to privilege lower-to-middle income customers. For instance, the savings rates for deposits under HK$1,000,000 receive the best non-promotional interest rate, 500-times higher than the average across Hong Kong's physical banks. Additionally, though Airstar customers are limited in available foreign currency deposits, savings rates for USD and RMB are much higher than those offered by most other competitor banks.

However, there are some disadvantages in terms of convenience to Airstar's exclusively online and mobile banking services. Without cheque account or cash card capabilities, customers must integrate their Airstar savings accounts with other local banks' cheque accounts to withdraw cash. Similarly, customers who require additional assistance must do so online or by calling an Airstar representative on the phone. If these issues are not bothersome to you, the Airstar savings account is a truly exceptional service that can help you maximize your savings.

Airstar Savings Account Interest Rates

Airstar Hong Kong Dollar Savings Rate
Deposit AmountInterest Rate
First HK$20,0003.60%
Above HK$20,000 and under HK$1,000,0000.50%
Above HK$1,000,0000.10%
Airstar Hong Kong Dollar Savings Rate
Deposit AmountInterest Rate
First HK$20,0003.60%
Above HK$20,000 and under HK$1,000,0000.50%
Above HK$1,000,0000.10%
Airstar Foreign Currency Interest Rates
Foreign Currency TypeInterest Rate
US Dollar (any deposit amount)0.10%
Chinese RMB (any deposit amount)0.25%
Airstar Foreign Currency Interest Rates
Foreign Currency TypeInterest Rate
US Dollar (any deposit amount)0.10%
Chinese RMB (any deposit amount)0.25%

Airstar Savings Account Details & Requirements

Details and Requirements
Minimum Age Requirement18
Proof of Identification / AddressValid Hong Kong identity card and permanent Hong Kong residence proof
Minimum Initial DepositHK$0
Minimum Balance RequirementHK$0
Fall-Below FeeN/A

How Does the Airstar Savings Account Compare to Other Accounts?

Read our comparisons of the Airstar Savings Account with other savings accounts in Hong Kong and learn what makes each account unique in its own way. We compare and contrast each account to help you to identify which best suits your needs.

Airstar Savings Account vs. livi Bank liviSave

Consider this if you are a higher income customer similarly interested in mobile banking.

livi Bank liviSave and the Airstar Savings Account both offer comparable rates for all customers' deposits below HK$500,000. However, between the range of HK$500,000 and HK$1,000,000, Airstar offers a higher rate at 0.50%. Thus, if you are a high-income customer seeking to maximize earning potential from interest, Airstar should be more appealing to you than livi Bank.

However, aside from the difference in savings rates, both accounts are very similar. Both livi Bank liviSave and Airstar require customers to have existing accounts with other banks to facilitate cash withdrawals and other banking features. livi Bank does offer a free Mastercard debit card for liviSave customers to make purchases, but cash withdrawals made with the card accrue applicable transaction fees.

Details & Requirements
Minimum Age Requirement18
Proof of Identification / Address
  • Must be a Hong Kong resident with a valid Smart Hong Kong Identity Card, Hong Kong address, and Hong Kong mobile number
  • Must currently be in Hong Kong
Minimum Initial DepositHK$0
Minimum Balance RequirementHK$0
Fall-Below FeeN/A
  • First HK$50,000 or below: 1.00%
  • Above HK$50,000 and under HK$500,000: 0.50%
  • Above HK$500,000: 0.10%

Airstar Savings Account vs. ZA Savings Go

Consider this if you want a consistently a high savings rate for a mobile banking account.

ZA Savings Go and Airstar Savings Account are both great for customers opening a mobile savings account. However, Airstar offers a different interest rate scheme from that of ZA Savings Go. Aside from Airstar's promotional rate of 3.60% for deposits under HK$20,000, ZA's 1% interest rate for all account balances under HK$500,000 is over double the rate offered by Airstar. For customers depositing over HK$1,000,000, on the other hand, Airstar's savings rate is 10-times higher than ZA's rate. ZA Savings Go may be more appealing for customers who identify as low-to-middle income.

When it comes to convenience, both accounts are not ideal and require customers to simultaneously use other banks for their cheque and investing needs. However, ZA customers will find no-fee cash withdrawals easier due to ZA Savings Go's provided debit card with widespread ATM access. Airstar customers will need to rely on other bank cards to conduct in-person purchases and cash withdrawals, but can deposit US Dollars and RMB in addition to HK Dollars.

Details & Requirements
Minimum Age Requirement18
Proof of Identification / AddressValid Hong Kong identity card and permanent Hong Kong residence proof
Minimum Initial DepositHK$0
Minimum Balance RequirementHK$0
Fall-Below FeeN/A
  • HK$500,000 and under: 1.000%
  • Above HK$500,000: 0.010%

Airstar Savings Account vs. CNCBI inMotion

Consider this if if you are value a mobile banking platform as well as the reputation of a major JETCO bank.

CNCBI inMotion allows customers who prioritize both the services offered by traditional banks and love using an entirely mobile platform. Compared to the Airstar Savings Account, CNCBI inMotion includes several features outside of savings and time deposits, which include investing, cheque/current accounts, and even a wide variety of promotional rewards. On the other hand, the Airstar Savings Account's primary benefit comes from its high interest, consistent with other mobile-only accounts offered by ZA and livi bank. If you prefer earning higher interest over expanded banking features, Airstar might be more suitable for you. However, if you greatly value brand reputation and desire a more integrated banking experience, choose CNCBI inMotion.

Details & Requirements
Minimum Age Requirement18
Proof of Identification / AddressValid Hong Kong identity card and permanent Hong Kong residence proof
Minimum Initial DepositHK$0
Minimum Balance RequirementHK$0
Fall-Below FeeN/A
  • Deposit under HK$4,999.99: 0.0000% p.a.
  • Deposit over HK$5,000: 0.0010% p.a.

Airstar Savings Account vs. HSBC One Account

Consider this if if you are value a mobile banking platform as well as the reputation of a major ETC bank.

HSBC One Account is a great mobile banking platform offered by one of the leading banks in Hong Kong, HSBC. Compared to the Airstar Savings Account, it does not afford customers the same opportunity to earn high savings rates, but does feature greatly expanded banking services. For instance, the HSBC One Account allows customers to open cheque/current, savings, investment, and even childrens' savings accounts through just one application. Moreover, customers of HSBC benefit from the bank's highly concentrated ATM and physical branch network throughout Hong Kong, making any immediate banking needs easily addressable. HSBC's mobile app similarly allows customers on-demand troubleshooting and assistance.

Customers who value the perks mentioned above over the opportunity to earn high interest from savings should choose HSBC, whereas those hoping to earn more might find Airstar a more appealing savings account option.

Details & Requirements
Minimum Age Requirement
  • 18 to sign up for your own account
  • Customers aged 11-17 can apply with parental/guardian sponsorship
Proof of Identification / Address
  • Hong Kong citizens: HK identity card and residential address proof
  • HK non-permanent residents: HK identity card or valid travel document (e.g. passport), and current residential address proof
  • Non-HK residents: valid travel document and current residential address proof
Minimum Initial DepositHK$0
Minimum Balance RequirementHK$0
Fall-Below FeeN/A
  • Deposit under HK$5,000: 0.000%
  • HK$5,000 and above: 0.0010%
黄奭彤

黄奭彤 (Seaton Huang) is a Junior Research Analyst covering consumer finance products in Hong Kong. As an alumnus of Columbia University (M.A., 2020), Northeastern University (B.A., 2019), and a former Fulbright Fellow at Shaanxi Normal University (2018), he has significant academic and analytical expertise in the economic and political terrains of China, Hong Kong, and Asia Pacific. His past research has concerned the socioeconomic effects of mobile payment systems in China and the efficacy of China's Belt and Road Initiative in Central Asia, among other poignant topics in contemporary Asia.