• HSBC UAE Fixed Deposit Account

    HSBC UAE Fixed Deposit

    HSBC UAE Fixed Deposit Interest Rates

    The latest term deposit rates for HSBC Premier Customers, effective 25th April, 2016, are as follow:

    Full Balance of the Term Deposit Interest Rates applicable 25 April, 2016*
    1 Month 2 Months 3 Months 4 Months 6 Months 9 Months 12 Months
    < 150,000 0.05% 0.15% 0.22% 0.52% 0.62% 0.80% 0.95%
    150,000 - 750,000 0.08% 0.18% 0.25% 0.55% 0.65% 0.90% 1.05%
    > 750,000 0.10% 0.20% 0.30% 0.60% 0.70% 0.95% 1.20%

    For HSBC Advance & Personal Banking Customers:


    Full Balance of the Term Deposit Interest Rates applicable 25 April, 2016*
    1 Month 2 Months 3 Months 4 Months 6 Months 9 Months 12 Months
    < 150,000 0.03% 0.13% 0.20% 0.50% 0.60% 0.78% 0.93%
    150,000 - 750,000 0.06% 0.16% 0.23% 0.53% 0.63% 0.88% 1.03%
    > 750,000 0.08% 0.18% 0.28% 0.58% 0.68% 0.93% 1.18%

    The rates are subject to change from time to time based on the bank’s discretion

    Fixed Deposit Accounts offered by HSBC Bank UAE

    HSBC Bank UAE offers fixed deposits that allows the investor to build on their savings. In this account, the investor deposits a definite amount of money at the start of the term and earns interest on the same till the maturity of the account. The bank offers competitive interest rates on its fixed deposit account along with flexible tenure options. The customer is given the option of opening the account in three currencies. The investor has the opportunity to maximise their returns by reinvesting the money (principal amount and profit) on maturity of the account.

    Features and Benefits offered by HSBC Bank UAE Fixed Deposit Account

    Listed below are the features and benefits offered by HSBC Bank UAE fixed deposit account.

    • It is a term deposit.
    • Offers competitive interest rates.
    • Interest up to 1.0% p.a. over term of the deposit.
    • Offers flexible tenures of 1, 2, 3, 4, 6, 9, 12 months.
    • The deposit account is available in USD, AED and GBP.
    • Premature withdrawals are allowed.
    • The bank charges a penalty fee for premature withdrawals.
    • Minimal documentation required.
    • The applicant should also have a HSBC savings account in order to open a fixed deposit account with HSBC UAE.
    • Easy processing.
    • Can be applied for online.
    • Offers the option of renewing the account on maturity by reinvesting both the principal amount and profits.
    • The customer can access the account through internet banking, phone banking and text messages.
    • Minimum deposit- AED 10,000.

    What is a fixed deposit account?

    A fixed deposit is a savings instrument provided by banks. It helps the investor build on their savings by letting them earn money on their idle savings. In a fixed deposit account, the investor deposit a certain amount of money for a period of time and earn interest on the same. The customer can choose the tenure period for which they want to deposit the money. The interest offered depends on the amount deposited and the tenure for which the amount is deposited. Though premature withdrawals are not advised with fixed deposit accounts, the bank allows the customer to make premature withdrawals for a penalty fee. The customer can also avail loan against the fixed deposit account. The loan amount granted against the fixed deposit depends on the bank and the amount deposited.

    Other products offered by HSBC, in the UAE are:

    HSBC UAE Car Loans

    HSBC UAE Home Loans

    HSBC UAE Personal Loans

    HSBC UAE Credit Cards

    HSBC UAE Car Insurance

    HSBC Home Insurance

    HSBC UAE Life Insurance

    HSBC UAE Travel Insurance

    About HSBC Bank UAE

    HSBC is one of the world’s largest banking and financial institution. The bank was established in 1865 in Hong Kong for the first time. The bank has over 6,100 offices in over 72 countries and territories. HSBC established its presence in UAE in 1946 and opened its operations to the residents of UAE. The bank has over 24 offices in UAE. The bank offers personal and business financial solutions to suit the various banking needs of its customers. Accounts, insurance, cards, loans and mortgages are some of the financial products offered by HSBC UAE. The bank offers internet banking, phone banking and text message alerts to make banking easier and convenient for its customers.

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