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Person, Human, Clothing
Person, Human, Clothing

Silver Bond is now available for subscription via any branches

Now available for public application:

20 July 2021 (9am) to 30 July 2021 (2pm)

You can only apply for Silver Bond if you (i) hold a valid Hong Kong Identity Card; and (ii) were born on or before 31 Dec 1962.

You can submit your application form to any branches from 20 July 2021 (9am) to 30 July 2021 (2pm).

Locate branches >>

Find out more details of Silver Bond on the Government Bond Programme’s website.

Fee waiver on Silver Bond application

  • Handling fee
  • Early redemption# (sell back to issuer)
  • Safe custody
  • Interest collection
  • Maturity redemption

Note: Transfer out request is subject to the handling fee of HKD500 per request.

#If you intend to redeem the Silver Bond before maturity, you can only sell back to HKSAR Government through placing bank or designated securities broker at 100% of its face value with accrued interest (if any).

Enquiry hotline: 2886 8868 (press “0 > 9”) after selecting language

Enquiry hotline service hours:
Monday to Friday: 9am – 5:30pm
Saturday: 9am – 12:30pm
Sunday and public holidays: Closed

Frequently Asked Questions

  • Subject to some selling restrictions, clients who hold a valid Hong Kong Identity Card and were born  on or before 31 December 1962 are eligible to apply. This is not limited to permanent resident. The Issuer representative (HKMA) will not accept multiple applications per Hong Kong Identity Card holder (regardless it’s applied via single or joint name account). Therefore, you can only apply through one placing bank or designated securities brokers. If you apply through more than one bank or other channels and multiple applications reach the Issuer, the Issuer will disqualify and reject every application you have made.

  • If you belong to any of the groups below, you are not allowed to apply for this series of Silver Bond:
    i) You are located within the United States or Canada; or
    ii) You are a U.S. Person within the meaning of Regulation S under the U.S. Securities Act of 1933, as amended, (which includes any person resident in the United States and any partnership or corporation organised or incorporated under the laws of the United States) or a resident of Canada; or
    iii) You are acting as an agent of a U.S. person or a resident of Canada; or
    iv) You are not in Hong Kong at subscription

  • i) A valid single name HKD Settlement Account; and
    ii) A valid single name Debt Securities (“DSS”) Account

  • You need to complete and provide the following documents at branch:
    – DSS questionnaire; and
    – InvestPro account opening form; and
    – Residential address proof

  • Application will be rejected by HKMA if you have submitted multiple applications through more than one placing bank or designated securities brokers. The fund will be credited to your settlement account within 5 business days after the issue date (i.e. 10 August 2021).

  • Allotment results will be sent to you via SMS on or before 9 August 2021.

  • No, Silver Bond will not be listed on Hong Kong Stock Exchange and will not be traded in secondary market.

  • No, Silver Bond will not be listed on Hong Kong Stock Exchange and will not be traded in secondary market.

  • The maximum allotment amount is HKD1,000,000.

Risk Disclosure Statement

Disclaimer and Important Notice Statement:
You should read the programme circular dated 12 May 2021 as well as the issue circular dated 29 June 2021, copies of which can be viewed online at the Government Bond Programme’s website before deciding whether to apply for any retail bonds.

Key Risks:

  • Interest rate risk: The retail bonds carry a floating rate of interest that is calculated other than by reference to prevailing Hong Kong dollar interest rates. The market value of your retail bonds may decrease if the prevailing Hong Kong dollar interest rates increase during the term of the retail bonds.
  • Index risk: The retail bonds carry a rate of interest that includes a component linked to the Composite Consumer Price Index. The market value of your retail bonds may be affected by movements in the index.
  • Liquidity risk: You cannot transfer your retail bonds to any other person. There will be no secondary market for your retail bonds. If you wish to sell your retail bonds before maturity, you may only submit an early redemption request to your placing bank or designated securities broker.
  • Credit risk: The retail bonds are not secured. When you buy retail bonds you will be relying on the creditworthiness of HKSAR Government. Adverse changes in the wider economic conditions in Hong Kong and the world and/or the creditworthiness of HKSAR Government may reduce the market value of your retail bonds and may affect HKSAR Government’s ability to make payments of principal of and interest on your retail bonds. In the worst case scenario, you could lose all of your investment.
  • Intermediary risk: You can only hold retail bonds indirectly through certain institutions, whom you will have to rely on to perform a number of functions, including passing on payments of principal of and interest on retail bonds to you and proving your interest in your retail bonds.

Risk Disclosure Statement for Debt Securities Services:

  • Investment involves risks. The price of bonds fluctuates, sometimes dramatically and the worst case may result in loss of your entire investment amount.  There is an inherent risk that losses may be incurred rather than profits made as a result of trading bonds.
  • Investors should consider their own investment objectives, investment experience, financial situation and risk tolerance level.
  • Investors should carefully read the relevant offering documents and the Terms & Conditions of relevant product / service before making any investment decision.
  • Bond is not an alternative to ordinary saving or time deposit, and is NOT a protected deposit and NOT being protected under the Deposit Protection Scheme in Hong Kong.


  • This webpage does not constitute any prediction of likely future price movements.
  • Investors should not make investment decisions based on this webpage alone.
  • This webpage has not been reviewed by the Securities and Futures Commission or any regulatory authority in Hong Kong.