Virtual Bank Airstar Fully Launches in Hong Kong with Up To 3.6% P.A Interest Rates

Virtual Bank Airstar Fully Launches in Hong Kong with Up To 3.6% P.A Interest Rates

by June 11, 2020

Airstar Bank today announced the official launch of its virtual banking services to the public which encompass savings account, time deposit and personal loan products.

In March, Airstar Bank which is jointly operated by AMTD Group and Xiaomi launched their pilot programme that onboarded 2,000 customers from friends and families of the staff.

In launching the bank fully, Airstar Bank said that its core mission is becoming “Everyone’s Bank” with financial inclusion in the heart. In their statement, they shared that as opposed to the priority banking model which retains high networth individuals with favourable deposit rates, Airstar Bank aims to deliver the full benefits to their customers regardless of their wealth.

Management photo of Airstar Bank. Starting from the second from left in the front row: Ronald Iu, Alternate Chief Executive of Airstar Bank, Wei Liu, Head of Xiaomi Financial Office, Xiaomi Corporation, Calvin Choi, Chairman of the Board and CEO of AMTD Group, Frederic Lau, Chief Executive of Airstar Bank and Alex Lee, Alternate Chief Executive of Airstar Bank.

Airstar Bank’s mobile app also enables real-time money transfer in HKD and CNY using the Faster Payment System (FPS) and interbank transfer of HKD, USD and CNY through Real Time Gross Settlement (RTGS) remittance systems.

The bank also said that it is looking beyond finance to lifestyle with a range of innovative financial products in the pipeline for customers, including financial planning analysis and other features focused on personal aspirations, all available on Airstar Bank’s mobile app.

Customers of Airstar Banks are entitled to an attractive interest rate at 3.6% p.a. for their first HKD 20,000 deposit amount during the official launch — a rate that is above the industry average.

In addition to deposit features, Airstar Bank also offers personal loans on favourable terms. Customers can apply for a personal loan instantly via Airstar Bank mobile app and are entitled to a preferential annualized percentage rate as low as 2.99%, calculated on a daily basis, with no handling fee.