Personal

Business

Cross Border

Hk silverbond banner

(Expired) Silver Bond is now available

Now available for public application:

15 September 2025 (9am) to 29 September 2025 (2pm)

How to apply

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 December 1966.
1. Via Online Banking

For existing clients* who have (i) valid single name Debt Securities Account; (ii) valid single name HKD Settlement Account; and (iii) registered for Online Banking service on or before 8 September 2025, you can apply for Silver Bond via Online Banking from 15 September 2025 (9am) to 28 September 2025 (11:59pm) (i.e. one day before the official close day).

*Clients’ eligibility is including but not limited to the criteria specified in the Frequently Asked Questions

Login and click on the promotion banner as shown below to apply.

2. Via branches

If you have not registered for Online Banking or do not have a valid Debt Securities Account and HKD Settlement Account, you can submit your application form to any of our branches from 15 September 2025 (9am) to 29 September 2025 (2pm).

Locate branches >>

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

Fee waivers on Silver Bond application

Fee waivers
  • 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

Enquiry hotline service hours:
Monday to Friday: 9am – 5:30pm
Saturday, 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 1966 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

  • Subscription Channel Eligible clients (Subject to selling restrictions mentioned in point 2)
    Via branches Clients who (i) hold a valid Hong Kong Identity Card; and (ii) were born on or before 31 December 1966 (secondary account owner of a joint name account is not applicable)
    Via Online Banking Clients who fulfil the requirements below on or before 8 September 2025:

    1.  Hold a valid Hong Kong Identity Card

    2. Were born on or before 31 December 1966

    3. Have a valid single name Debt Securities Account and a valid single name HKD Settlement Account

    4. Have registered for Online Banking service

    5.  Non-US person or non-Canada resident

    6. Address not in U.S. or Canada

    7. Able to see the Silver Bond banner after logging into Online Banking

  • You may call our Enquiry Hotline at 2886 8868 to enquire the status by indicating your order reference number.

  • 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 October 2025).

  • Allotment results will be sent to you via SMS on or before 9 October 2025.

  • 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.

  • We recommend using any of the following browsers with Windows or MacOS to submit your Silver Bond application via Online Banking:
    • Chrome
    • Edge
    • Firefox

Risk Disclosure Statement

Disclaimer and Important Notice Statement:
You should read the programme circular dated 15 September 2025 as well as the issue circular dated 15 September 2025, 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.

Notes:

  • 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.