Fixed deposit or term deposit is considered to be among the safest investment vehicles offered by HSBC. Closing an FD can be done either prematurely or after the fixed deposit matures at the end of its tenure which usually ranges from 7 days to 10 years. Here are the steps to follow if you wish to close the fixed deposit account.
Yes, depending on the action you have chosen at the beginning of the process of opening an FD account, the FD can either be renewed or deposited to a bank account of your choice.
A fixed deposit account can be opened for a tenure starting at 7 days.
Yes, HSBC does charge a premature withdrawal penalty of 1% on the interest accrued on the fixed deposit depending on the tenure chosen.
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