HSBC Savings Account

1. The HSBC Bank savings account holders will get interest rate ranging from 3% to 3.50%. 
2. For metro urban branches, you need to have the minimum balance of Rs.10,000 in your HSBC Bank savings account. 
3. In case of semi urban branch, Rs.5,000 is needed to open a savings account along with a deposit of Rs.2,500, whereas in rural branches, the minimum balance should be Rs.2,500. 
4. The HSBC Bank customers can transfer their savings account from one branch to another without changing their savings account number. 

1. Apart from this, the customers can link HSBC savings account to a Multi Option Deposit which will allow them to get higher returns on excess funds. 
2. The bank also provides safe deposit locker as well as nomination facility to its savings account holders. 
3. The bank offers a wide range of debit cards which meet their requirements. 
4. HSBC Bank offer certain services like missed call banking and internet banking. The customers can opt for its mobile banking program that comprises of utility bill payments, Immediate Payment Services (IMPS), inquiry and statement requests, mobile recharges, and chequebook requests. 
5. The bank provides passbooks for free. 

HSBC Bank Savings Account Fees and Charges 

HSBC Bank Savings Account Products 

HSBC Regular Savings Account 

HSBC Regular Savings Account is a basic savings account which helps the accountholders to manage money in a smart way. Given below are the features of HSBC regular savings account: 

1. This savings account comes with certain facilities like mobile banking, net banking, phone banking, and BillPay. 

1. The customers can open this savings account online with zero documentation. 

Eligibility Criteria 

The following are the eligibility criteria of HSBC Regular Savings Account: 

1. An individual should be the citizen of India. 
2. Hindu Undivided Families (HUFs) are also eligible to open an account with the bank. 

1. Minors over ten years of age are allowed to open a self-operated account. 

Women’s Savings Account 

Women’s Savings Account aims to meet the daily banking needs as the account holders are allowed to access all the banking services anytime across the week. The following are the key features of Women’s Savings Account: 

1. It provides a personal accident death coverage of Rs.10 lakhs. 
2. The accountholders will receive accidental hospitalization coverage worth Rs.1 lakh which can be reimbursed. 

1. The women’s savings account can be linked with a multi option deposit MOD account. It will help them to offer higher term deposit on additional funds up to certain limit. 
2. The bank also provides two wheelers and vehicle loans to the HSBC Women’s savings account holders. 

Eligibility Criteria 

Women above 18 years of age who reside in India are eligible to open this savings account. 

Senior Citizens Account 

This savings account has been introduced by the HSBC Bank for the people above 60 years of age. Let us have a look at its key features: 

1. In case of unintentional hospitalization, the bank will provide the yearly coverage of Rs.50,000. 
2. HSBC Senior Citizens Account holders can enjoy all banking services like internet banking, phone banking, and Insta Alert. 
3. It offers free e-statement service every month. 
4. The chequebook is issued to the accountholders for free. 

Eligibility Criteria 

The people above 60 years of age are eligible to open Senio Citizen Account with HSBC Bank. 

Kids Advantage Account 

The following are the features of HSBC Bank Kids Advantage Account: 

1. It provides free education insurance of Rs.1 lakh. 

1. Account can be linked with a Multi Option Deposit (MOD) to receive higher rate of interest on additional funds. 

Eligibility Criteria 

The account holders should be under 18 years of age and both parents should have savings accounts with HSBC Bank. 

Family Savings Group Account 

HSBC Family Savings Group Account offers savings and heath incentives to its account holders. The key features of this savings account are as follows: 

1. The account holders can avail locker rental facility at 50% discount. 
2. Pre-Authorized Payments (PAP) chequebook is issued at free of cost. 
3. It provides all the basic banking facilities like mobile banking, phone banking, and internet banking. Exclusive offers are provided to online trading accounts. 

Eligibility Criteria 

Any member of the family who already has a savings account with HSBC Bank is eligible to open Family Savings Group Account. However, a minor cannot be the primary account holder. 

Institutional Savings Account 

Institutional Savings Account is specifically introduced for institutions or organizations by HSBC Bank that offer several perks. The following are the features of Institutional Savings Account: 

1. The bank doesn’t charge any fee for using PAR  chequebook. 
2. It offers cash management services which enables the account holders to collect fees, donations, etc. 
3. Customers can enjoy services like net banking, mobile banking, and phone banking. 

Eligibility Criteria 

Any organization, association, trust, club, society, educational institute, charitable hospital, or Section 25 company that fulfills the Reserve Bank of India (RBI) guidelines are eligible to open an account with HSBC Bank. 

Basic Savings Account 

The following are the key features of HSBC Bank basic savings account: 

1. The bank offers free net banking service. 

1. The customers can also enjoy Interactive Voice Response (IVR) based phone banking service for free. 
2. It free BillPay service helps the customers to pay all the utility bills. 

Eligibility Criteria 

Indian citizens above 18 years of age are eligible to open HSBC Basic Savings Account. 

BSBDA Small Account 

This account is mainly opened by the people easy payment and collection of a company’s bills. Here are its key features: 

1. The total balance of the account should not be above Rs.50,000. 
2. The cumulative credit should not be more than Rs.1 lakh. 
3. The cumulative transfers and withdrawals should not be above Rs.10,000 per month. 

Eligibility Criteria 

An applicant should be an Indian citizen above 18 years of age. 

Savings Farmers Account 

This account supports the farmers who do not have a complete Know Your Customer (KYC) by allowing them to avail all types of banking services. Let us look have a look at its features: 

1. The online shopping site of a bank offers exclusive deals and discounts. 
2. Zero annual maintenance charge for IVR based phone banking. 

1. It provides banking services such as mobile banking, net banking, phone banking, and BillPay. 

Eligibility Criteria 

Only farmers are eligible to open this savings account. 

Documents Needed to Open an HSBC Bank Savings Account 

You need to submit the following documents to open an HSBC Bank Savings Account: 

1. Identity Proof: Driving license, Voter ID Card, Permanent Account Number (PAN) card, and passport. 
2. Address Proof: Voter ID, Driving License, and Passport. 
3. Two passport sized photographs. 

How to Open HSBC Bank Savings Account 

The following are the step by step process to open an HSBC Bank Savings Account: 

1. Visit your nearest HSBC Bank branch. 
2. Fill out the savings account opening form. 
3. Enclose the scanned copies of all the KYC documents and submit it to the branch official.