Virtual bank Airstar Bank launches a pilot trial

Wednesday 1 April 2020 10:31 CET | News

Airstar Bank Limited, a Hong Kong-based licensed virtual bank, has announced the launch of a pilot trial. 

According to Crowdfund Insider, the pilot will onboard approximately 2.000 customers that are largely friends and family of Airstar, Xiaomi and AMTD Group. The trial will enable the bank to receive feedback and streamline services. Moreover, an account can be created in a short period of time with no deposit minimum.

For savers, Airstar will offer two options. One will offer an interest rate of up to 1% per annum for HKD saving deposits between HKD 500.000 (EUR 59.000) and HKD 1.000.000 (EUR 118.000). Customers may place money in time deposits and have the flexibility to customise the time deposit maturity dates. Airstar will also provide unsecured lending products for its customers.

The pilot is being conducted under the authority of the Hong Kong Monetary Authority’s  Fintech Supervisory Sandbox.

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Keywords: Airstar Bank, Hong Kong, virtual bank, Xiaomi, AMTD Group, rate, lending, fintech
Categories: Banking & Fintech
Countries: Hong Kong
This article is part of category

Banking & Fintech