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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