HSBC Loan against FD
As a customer of HSBC Bank, you can avail the fixed deposit facility and earn interest on the amount deposited by you for a tenure chosen by you. You will be able to enjoy a variety of benefits when you open a fixed deposit account including loan against fixed deposit which you can avail if you are facing a cash crunch and are in immediate need of financial help.
In order to avail the Loan against FD facility, you will have to deposit up to Rs.25,000 under HSBC Smart Money Account scheme. Let's have a look at the benefits offered under Smart Money Account.
Features and benefits of HSBC Smart Money Account
- You can deposit up to Rs.25,000 in order to open a Smart Money account. You can choose the tenure as per your requirements, and based on your deposit amount, earn interest.
- On availing this facility, you can withdraw up to 90% of the deposit amount. You only have to pay interest on the amount you have withdrawn, while subsequently continuing to earn interest on the entirety of your deposit amount.
- On opening a Smart Money account, the bank will offer you a credit card which you can use to conduct different types of transactions.
- You will be offered an HSBC debit card which you can use to withdraw up to Rs.25,000 per day. The withdrawal limit will be higher if you are an HSBC Premier and HSBC Advance customer.
- You can easily keep a tab on your Smart Money account through the bank's net banking, phone banking, and ATM facilities. You can use this facility anytime and from anywhere.
- You can use the Smart Money account to pay your bills in a hassle-free manner.
Eligibility criteria
Given below are the eligibility criteria in order to open an HSBC Smart Money account:
- The minimum age of eligibility is 18 years.
- You must be a citizen of India.
- In order to avail the facility provided by HSBC Smart Money account, you will have to deposit a minimum of Rs.25,000.
How to apply for HSBC Smart Money Account
You can open an HSBC Smart Money account offline by visiting the nearest HSBC branch. A representative from the bank will help you with the application process. You must ensure that you meet the eligibility requirements in order to avail this particular facility.
You can also contact the bank's toll-free numbers 1800 266 3456 or 1800 120 4722 to enquire about the process to avail this facility. If you are calling from overseas, then you can call on any one of the numbers - +91-40-61268001 or +91-80-71898001. A customer care executive will help you with the application process.
HSBC Smart Money Account fees and charges
Category | Charges |
Rs.25,000 to be deposited as minimum amount | No service charges |
Interest rate charged on overdraft | 2% interest charged over the overdraft amount |
Other Banks Offering Loan Against FD
- Loan Against SBI Fixed Deposit
- Loan against fixed deposit HDFC
- Loan Against ICICI Bank FD
- Loan against Fixed Deposit Axis Bank
- Citibank Loan Against FD
- PNB Loan Against FD
- Loan against FD Canara Bank
- Federal Bank Loan Against FD
- Karur Vysya Bank Loan Against FD
- IndusInd Bank Loan against FD
- Standard Chartered Bank Loan against FD
- YES Bank Loan against FD
FAQs on HSBC Loan against FD
- Will I receive a chequebook on availing the HSBC Smart Money Account facility?
Yes, you will receive a personalised chequebook on availing the HSBC Smart Money Account facility.
- Is there any minimum balance that I will have to maintain in my savings account in order to avail the overdraft facility?
No, you will not be required to maintain any minimum balance in your savings account in order to avail a loan against your FD.
- I have a savings account opened in a branch in Mumbai, and my fixed deposit account opened at an HSBC branch in Delhi. Will I be able to open a Smart Money account?
Yes, you will be able to open a Smart Money account even if you have savings and FD accounts in different HSBC branches.
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