• HSBC Bank NRO/NRE/FCNR FD Rates

    HSBC bank allows non-resident Indians (NRIs) to open NRE, NRO, FCNR, and RFC deposits with them. The deposits can be opened for a period that ranges between 7 days and 5 years with the offered interest rate ranging between 2.25% and 4% p.a.

    HSBC Bank NRE FD Rates

    The interest rates offered on NRE fixed deposit by the bank are listed in the table below:

    Tenure Interest rate (% p.a.)
    365 days to 399 days 3.10
    400 days to less than 18 months 3.25
    18 months to less than 599 days 3.30
    600 days 3.75
    601 to 699 days 3.30
    700 days 3.75
    701 days to 731 days 3.50
    732 days to less than 36 months 3.60
    36 months 4.00

    Note: The rates mentioned in the table are effective from 26 November 2020. It must be noted here that the rates are subject to change as per the discretion of the bank.

    HSBC Bank NRO FD Rates

    For opening a NRO fixed deposit account, the interest rates offered by HSBC Bank on deposits below Rs.2 crore are mentioned in the table below:

    Tenure Interest rate (% p.a.)
    7 days to 14 days 2.25
    15 days to 29 days 2.50
    30 days to 59 days 2.75
    60 days to 89 days 2.80
    90 days to 269 days 3.00
    270 days to less than 12 months 3.10
    12 months to 399 days 3.10
    400 days to less than 18 months 3.25
    18 months to 599 days 3.30
    600 days 3.75
    601 days to 699 days 3.30
    700 days 3.75
    701 days to 731 days 3.50
    732 days to less than 36 months 3.60
    36 months to 60 months 4.00

    Note: HSBC Bank NRO FD rates are effective 26 November 2020. It must be noted here that the rates are subject to change as per the discretion of the bank.

    Highest HSBC Bank NRO deposit rates

    HSBC Bank offers 4.00% p.a. on NRO term deposit having a deposit tenure that ranges between 36 months and 60 months. This is the highest interest rate offered by the bank for opening a NRO fixed deposit.

    HSBC Bank FCNR (B) Deposit Rates

    The interest rates for FCNR term deposit are provided below:

    Tenure Interest rates (per annum)
    USD GBP EUR JPY CAD AUD SEK DKK CHF
    12 months to less than 24 months 0.01 0.01 0.01 0.01 0.10 0.10 0.01 0.01 0.01
    24 months to less than 36 months 0.05 0.01 0.01 0.01 0.10 0.10 0.01 0.01 0.01
    36 months 0.05 0.01 N/A N/A N/A N/A 0.01 0.01 0.01

    Note: HSBC Bank FCNR rates are effective 15 May 2020. It must be noted here that the rates are subject to change as per the discretion of the bank.

    HSBC Bank RFC Deposit Rates

    HSBC Bank’s RFC fixed deposit rates are as given below:

    Tenure Interest rates (per annum)
    USD GBP EUR JPY
    31 days to less than 6 months 0.10 0.10 0.10 0.10
    6 months 1 day to less than 12 months 0.10 0.10 0.10 0.10
    12 months to less than 24 months 0.10 0.10 0.10 0.10
    24 months to less than 36 months 0.10 0.10 0.10 0.10
    36 months 0.10 0.10 N/A N/A

    Note: HSBC Bank FCNR rates are effective 1 December 2020. It must be noted here that the rates are subject to change as per the discretion of the bank.

    FAQs on HSBC Bank NRO/NRE/FCNR FD Rates

    1. What is the minimum deposit amount for opening a NRE deposit?
    2. The minimum deposit required to open a NRE deposit is Rs.25,000.

    3. Is the overdraft facility available on NRE fixed deposits?
    4. The overdraft facility is available on NRE fixed deposits.

    5. What is the minimum deposit amount for US dollars when it comes to FCNR deposits?
    6. The minimum deposit amount with regard to FCNR deposit when investing in US dollars is $1,000.

    7. Can an RFC deposit be held in joint mode?
    8. Yes, an RFC deposit can be held in joint mode with NRIs as well as resident Indians. However, deposits held with resident Indians can be operated only on ‘Former’ or ‘Survivor’ basis.

    9. Is the nomination facility available on NRE, NRO and FCNR deposits?
    10. Yes, the nomination facility is available on NRE, NRO and FCNR deposits.

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