Overview of HSBC Fixed Deposit

With HSBC, you can open a fixed deposit online easily, with minimum deposit starting at Rs.10,000, with attractive interest rates that go up to 4.00% p.a., and flexible investment tenures.

Features of HSBC Fixed Deposit Schemes

HSBC Fixed deposit schemes have the following customer-centric features:

• Can be opened easily and quickly online
• Select tenures have special interest rates for maximum value
• Wide range of tenures
• Senior citizens get up to 0.50% higher interest rates
• Multiple ways to open – phone, website, and branch

Types of HSBC Fixed Deposits

HSBC has the following types of fixed deposit accounts:

• For Resident Indians:
  • Cumulative
  • Ordinary

• For Non-Resident Indians:
  • FCNR B-Cumulative
  • FCNR B-Ordinary
  • Resident FCY Deposit
  • NRE – Cumulative
  • NRE – Ordinary
  • NRO – Cumulative
  • NRO - Ordinary

Interest Rates on HSBC Fixed Deposits

HSBC FD interest rates range from 2.25% p.a. to 4.00% p.a. for tenures ranging from 7 days to 5 years for deposits below Rs.2 crore, effective 26 November 2020. The highest interest rate of 4.00% p.a. is offered a tenure ranging from 3 years to 5 years.

Senior Citizens HSBC FD Interest Rates

Senior citizens are offered 0.50% additional interest rate on flexible tenures ranging from 7 days to 5 years. The interest rate ranges from 2.75% p.a. to 4.50% p.a. The highest interest rate of 4.50% p.a. is offered on tenure ranging from 3 years to 5 years.

Eligibility Criteria for HSBC Fixed Deposits

Indian Residents and Non-Resident Indians (NRIs) are eligible to open a fixed deposit with HSBC Bank.

Procedure to Open an HSBC Fixed Deposit

You can open a fixed deposit with HSBC by visiting your nearest bank branch or by applying on the official website (you would need to have an internet banking account with HSBC).

HSBC NRI Fixed Deposits

HSBC offers NRE deposits with the following features:

• Interest can be paid quarterly or at the time of maturity
• Freely repatriable
• Overdraft facility available
• Joint accounts can be held
• Can break deposits subject to premature withdrawal clause
• Tenures range from 1 year up to 3 years

HSBC NRI Fixed Deposit Interest Rates

The interest rates offered on HSBC NRI fixed deposits range from 3.10% p.a. to 4.00% p.a. for tenures ranging from 1 year to 3 years. The highest interest rate of 4.00% p.a. is for 3 years to 5 years. This is for deposit amounts lower than Rs.2 crore and effective 26 November 2020.

HSBC Fixed Deposit FAQs

1. Can I open an HSBC FD account online?

   Yes, you can open an HSBC FD account online through the bank’s official website and net banking portal.

2. What are the kinds of fixed deposit accounts offered by HSBC?

   HSBC offers both cumulative and non-cumulative fixed deposit options.

3. What is the tenure of HSBC fixed deposits?

   HSBC offers fixed deposit tenures ranging from 7 days up to 5 years.

4. What is the minimum amount for the HSBC FD account?

   The minimum amount required to open a fixed deposit account with HSBC is Rs.10,000.

5. Is there a penalty for premature withdrawal of HSBC fixed deposit?

   Yes, there is a penalty of 1% for premature withdrawal of HSBC fixed deposit.