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HSBC Bank FD Calculator

HSBC Bank Fixed Deposit Calculator 2021

Last Updated 15th Jan 2021

HSBC Bank FDs have tenures ranging from 2 years 11 months 20 days to 4 years 11 months 10 days with maximum rate of interest of 4.00%. Interest rates for senior citizens are higher than the normal rates and ranges upto 4.50%.

Tenure Rates Maturity Amount for ₹ 1 Lakh
7 days to 14 days 2.25% to 2.75% ₹ 1,00,043 - ₹ 1,00,105
15 days to 29 days 2.50% to 3.00% ₹ 1,00,103 - ₹ 1,00,238
30 days to 59 days 2.75% to 3.25% ₹ 1,00,226 - ₹ 1,00,525
60 days to 89 days 2.80% to 3.30% ₹ 1,00,460 - ₹ 1,00,805
HSBC Bank FD Maturity Calculator
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HSBC Bank Fixed Deposit Calculator

HSBC Bank fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.

  • Deposit amount – This is the initial amount deposited by a customer in HSBC Bank. Bank may allow higher interest rate on larger deposits. HSBC Bank offers deposit amount in the range of 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. HSBC Bank offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by HSBC Bank is 4.00% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 2 years 11 months 20 days to 4 years 11 months 10 days.
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 2.25% for a 2 years 11 months 20 days FD and a rate of 4.00% for a 4 years 11 months 10 days FD.
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.
  • TDS applicability and TDS rate
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 2.25%. In this case, the maturity amount at the end of 7 days will be ₹ 1,00,671 which includes the principal of ₹ 1,00,000 and interest of ₹ 671 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

      HSBC Bank calculates quarterly interest on its fixed deposits. You can also opt for tax saving scheme to save tax on fixed deposit.

HSBC Bank Fixed Deposit Interest Calculator – Interest Payment Options

  • In a periodic interest payout option, HSBC Bank would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • In case you opt for a HSBC Bank cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
  • Calculate the FD maturity amount using the FD calculator.

FD Maturity Calculator

The interest earned on a fixed deposit in HSBC Bank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on HSBC Bank FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of HSBC Bank FD.

Suppose if you make an investment of ₹ 1,00,000 in HSBC Bank FD for a 5-year tenure at an interest rate of 4.00% for depositors below 60 years and 4.50% for senior citizens. The maturity amount for this deposit amount is ₹ 1,22,019 and the total interest earned is ₹ 22,019 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 25,075 which is higher. The maturity schedule of HSBC Bank FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 4.00% for Citizens below 60 years and at 4.50% for Senior Citizens for 5 years

Year Citizens below 60 Years of Age Senior Citizens above 60 Years
Interest Earned Closing Balance Interest Earned Closing Balance
2021 ₹ 4,060 ₹ 1,04,060 ₹ 4,577 ₹ 1,04,577
2022 ₹ 4,225 ₹ 1,08,285 ₹ 4,786 ₹ 1,09,363
2023 ₹ 4,397 ₹ 1,12,682 ₹ 5,005 ₹ 1,14,368
2024 ₹ 4,575 ₹ 1,17,257 ₹ 5,234 ₹ 1,19,602
2025 ₹ 4,761 ₹ 1,22,018 ₹ 5,474 ₹ 1,25,076

HSBC Bank FD Calculator Formula

Along with online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on HSBC Bank FD.

A = P (1 + r/n) ^ n*t
In the above formula –

  • A - Amount received on maturity
  • P – Deposit amount
  • r - Annual interest rate
  • n - Number of times the interest is compounded
  • t is Investment tenure

Other Investment Calculators

FAQs

What is the highest interest earned on HSBC Bank fixed deposit?

You can earn a maximum interest of 4.00% on HSBC Bank fixed deposit.

How is HSBC Bank FD interest calculated?

The formula to calculate interest on HSBC Bank FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = Interest rate as decimal
n = number of times interest is compunded
t = tenure of deposit
However, you can use online FD calculator to estimate the value of interest earned on the deposited amount.

How many years FD will double in HSBC Bank?

The growth of HSBC Bank FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in HSBC Bank FD. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 6.95%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/6.95 = 10.36. So it will take a little more than 14 years for one’s investment to get doubled in HSBC Bank.

What are the minimum and maximum amounts that I can invest in an HSBC Bank FD?

The minimum investment limit in HSBC Bank Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.

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HSBC News - Jan 2021
  • 2020-04-23 : HSBC Bank revised its FD rates
    HSBC Bank changed its fixed deposit rates with effect from 18 April 2020. The FD rate for the short tenor of 7 to 29 days is 3%, for 30 to 59 days it is 3.10%, and it stands at 3.75% for 60 to 89 days. Fixed deposit rates for 90 to 364 days is 4%, for 365 days to 400 days it is 4.25% and stands at 4.50% for 401 days to less than 699 days. Further, FD rates for 700 days to 731 days is 4.60% and stands at 4.75% for 732 days to less than 36 months. The fixed deposit rate for 36 months to less than 37 months is 5.15%, and it is 5% for 37 months to 60 months.
  • 2020-04-09 : HSBC revised its FD rates
    HSBC changed its fixed deposit rates with effect from 7 April 2020. The FD rate for the short tenor of 7 to 29 days is 3%, for 30 to 59 days it is 3.10%, and it stands at 3.75% for 60 to 89 days. Fixed deposit rates for 90 to 179 days is 4.25%, for 180 days to 399 days is 4.50% and stands at 4.75% for 400 days to less than 18 months. Further, FD rates for 18 months to 730 days is 5%, for 731 days it is 5.10% and stands at 4.75% for 732 days to less than 36 months. The fixed deposit rate for 36 months to less than 37 months is 5.25% and it is 5% for 37 months to 60 months.
  • 2020-02-19 : HSBC revised its FD rates
    HSBC changed its fixed deposit rates with effect from 18 February 2020. The FD rate for short tenor of 7 to 14 days is 3%, for 15 to 29 days it is 3.05% and 30 to 59 days it is 3.25%. Fixed deposit rates for 60 to 89 days is 4%, for 90 to 399 days it is 5% and for 400 days it stands at 5.50%. Further, FD rates for long tenors of 401 days to less than 18 months is 5%, for 18 months to 730 days it is 5.50% and for 731 days it is 5.60%. The rate for 732 days to less than 36 months is 5%, for 36 months to less than 37 months is 5.75% and 37 months to 60 months is 6%.
  • 2019-11-07 : Revised FD rates by HSBC Bank
    With effect from November 5, 2019, HSBC Bank revised its interest rates on fixed deposits. For 7-14 days, the rate is 3.00%, the rate for 15-29 days is 3.05%, for 30-59 days it is 3.25%, the rate for 60-89 days is 4.00%, and for 90-399 days the rate is 5.00%. For long periods of 400 days, the rate is 5.50%; for 401 days to 18 months, the rate is 5.00%; for 18 months to 730 days, the rate is 5.50%, and it is 5.75% for 731 days. Further, the revised rate for 732 days to less than 36 months is 5.00%; for 36 to less than 37 months, the rate is 6.00%, and for 37 months to up to 60 months, the new rate is 5.00%. For senior citizens, the rates differ by 50 basis points.
  • 2019-10-18 : HSBC Bank revises interest rates on FDs
    With effect from October 15, 2019, HSBC Bank revised its interest rates on fixed deposits. The revised FD rates for 7-4 days is 3.00%, for 15-29 days the rate is 3.05%, the rate for 30-59 days is 3.25%, for 60-89 days the rate is 4.00%, the rate for 90-93 days is 5.25%, and for 94-399 days the rate is 5.00%. For long tenure of 400 days, the rate is 5.75%, the rate for 401 days to 18 months is 5.00%, from 18 months to 730 days the rate is 5.50%, and for 731 days it is 6.00%. Further, for 732 days to 36 months, the rate is revised to 5.00%; for 36-37 months, the rate is 6.00%, and for 37-60 months, the revised rate is 5.00%.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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