HSBC FD Interest Rates 2021
HSBC FD Interest Rates
When it comes to the FD interest rate, the highest rate offered on HSBC Bank FD is 4.00%. Latest HSBC Bank FD interest rate for senior citizens, on the other hand ranges between 2.75% to 4.50%.
| Tenure | FD interest rates | Senior Citizen FD interest rates |
|---|---|---|
| 7 days to 14 days | 2.25% | 2.75% |
| 15 days to 29 days | 2.50% | 3.00% |
| 30 days to 59 days | 2.75% | 3.25% |
| 60 days to 89 days | 2.80% | 3.30% |
| 90 days to 94 days | 3.00% | 3.50% |
| 95 days to 179 days | 3.00% | 3.50% |
| 180 days to 269 days | 3.00% | 3.50% |
| 180 days | 3.00% | 3.50% |
| 270 days to 364 days | 3.10% | 3.60% |
| 365 days | 3.10% | 3.60% |
| 366 days to 399 days | 3.10% | 3.60% |
| 400 days | 3.25% | 3.75% |
| 401 days to 17 months 29 days | 3.25% | 3.75% |
| 600 days | 3.75% | 4.25% |
| 601 days to 699 days | 3.30% | 3.80% |
| 700 days | 3.75% | 4.25% |
| 701 days to 730 days | 3.50% | 4.00% |
| 731 days | 3.50% | 4.00% |
| 732 days to 35 months 29 days | 3.60% | 4.10% |
| 18 months to 599 days | 3.30% | 3.80% |
| 36 months to 36 months 29 days | 4.00% | 4.50% |
| 37 months to 47 months 29 days | 4.00% | 4.50% |
| 48 months to 60 months | 4.00% | 4.50% |
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HSBC Fixed Deposit Features
HSBC Bank FDs are one the best investment options available for depositors who are looking to invest in a fixed income instrument and earn higher returns than the savings account. Key Features of HSBC Bank Fixed Deposit are:
HSBC Bank FD Interest Rates Today
Interest rates on HSBC Bank deposits are updated regularly by the Government of India. The following are updated HSBC Bank FD interest rates 2021:
| Tenure | Interest Rate |
|---|---|
| 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 94 days | 3.00% |
| 95 days to 179 days | 3.00% |
| 180 days to 269 days | 3.00% |
| 180 days | 3.00% |
| 270 days to 364 days | 3.10% |
| 365 days | 3.10% |
| 366 days to 399 days | 3.10% |
| 400 days | 3.25% |
| 401 days to 17 months 29 days | 3.25% |
| 600 days | 3.75% |
| 601 days to 699 days | 3.30% |
| 700 days | 3.75% |
| 701 days to 730 days | 3.50% |
| 731 days | 3.50% |
| 732 days to 35 months 29 days | 3.60% |
| 18 months to 599 days | 3.30% |
| 36 months to 36 months 29 days | 4.00% |
| 37 months to 47 months 29 days | 4.00% |
| 48 months to 60 months | 4.00% |
HSBC Bank FD Rates for Senior Citizens
With an aim to attract senior citizens above the age of 60 years to invest in the fixed deposits, HSBC Bank offers a higher interest rate to senior citizens than the general public. Listed below are the HSBC Bank fixed deposits interest rates for senior citizens 2021:
| Tenure | Interest Rate for senior citizens |
|---|---|
| 7 days to 14 days | 2.75% |
| 15 days to 29 days | 3.00% |
| 30 days to 59 days | 3.25% |
| 60 days to 89 days | 3.30% |
| 90 days to 94 days | 3.50% |
| 95 days to 179 days | 3.50% |
| 180 days to 269 days | 3.50% |
| 180 days | 3.50% |
| 270 days to 364 days | 3.60% |
| 365 days | 3.60% |
| 366 days to 399 days | 3.60% |
| 400 days | 3.75% |
| 401 days to 17 months 29 days | 3.75% |
| 600 days | 4.25% |
| 601 days to 699 days | 3.80% |
| 700 days | 4.25% |
| 701 days to 730 days | 4.00% |
| 731 days | 4.00% |
| 732 days to 35 months 29 days | 4.10% |
| 18 months to 599 days | 3.80% |
| 36 months to 36 months 29 days | 4.50% |
| 37 months to 47 months 29 days | 4.50% |
| 48 months to 60 months | 4.50% |
Best FD Plan as per HSBC Bank FD Rates
To invest in HSBC Bank fixed deposit, you must compare HSBC Bank Fixed Deposit Rates for varying tenures. HSBC Bank FD Interest Rates 2021 are best for the deposits with a tenure of 2 years 11 months 20 days to 4 years 11 months 10 days, wherein the current HSBC Bank Fixed Deposit Interest Rates is 4.00 p.a.
If you are looking to invest in short term deposits with HSBC Bank, the interest rate of HSBC Bank for FD ranges from 2.25% p.a. to 3.10% p.a. These deposits are known as short term deposits and are offered with a tenure of 7 days to less than 365 days. Short term HSBC Bank Fixed Deposit Rates for senior citizens range from 2.75% to 3.60% p.a.
If you want to invest in long term deposits, HSBC Bank Fixed Deposit Rates with tenure ranging from 5 years to 60 months are a good choice with interest rates on deposits at 4.00%.HSBC Bank Senior citizens FD Rates are offered at special rates with the highest deposit rates of4.50% p.a. on long term FDs.
Below-mentioned is some of the benefits of opening an FD account in HSBC Bank:
HSBC Bank Fixed Deposit Rates – Premature Withdrawal
You can close your HSBC Bank FD account prematurely, however HSBC Bank charges a penalty of 1% for premature withdrawal. Also, The penal provisions for premature closure on HSBC Bank FD are subject to change from time to time and may also vary with deposit schemes.
Loan against Fixed Deposit HSBC Bank
HSBC Bank offers loans up to 90% against its own deposit. Note that HSBC Bank will not give you loan against FD of any other bank. HSBC Bank offers Loan against FD at the rate of 3.25% to 5%
Maximum loan tenure is restricted up to the maximum tenure of the FD.
Illustration - Mr. Rahul has opened a fixed deposit of ₹ 1,00,000 for 2 years in HSBC Bank. The borrower later decided to take a loan against his FD. The bank has approved a credit limit of 90% against his FD at 10% interest rate. Now, if the borrower draws ₹ 90,000 on the first of the month and then repays the money on the 1st of next month, then he is supposed to pay the interest on ₹ 90,000 available for 1 month only. The amount he repays after 1 month is ₹ 90,744. So, the interest charged on the loan taken is ₹ 744.
FD Account Opening Process at HSBC Bank
To open an HSBC Bank Fixed Deposit, follow the steps as mentioned below:
To open a Fixed Deposit account in HSBC Bank, you can visit the official website and login to your account. Choose the Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the HSBC Bank FD after reading the terms and conditions.
Nomination Facility on HSBC Bank FD
HSBC Bank also offers a nomination facility on Fixed Deposit to claim the amount in case of the depositor's death. You can file the details of only 1 nominee when opening an HSBC Bank FD account. The nominee has to submit his/her identification proof at the time of claim.
FAQs
✅What is the highest fixed deposit interest rate for HSBC Bank?
You can earn a maximum interest of 4.00% on HSBC Bank fixed deposit.
✅Are there any special rates for senior citizens FD of HSBC Bank?
Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 2.25% to 4.00%. Compared to this, HSBC Bank senior citizens FD are in the range of 2.75% to 4.50%.
✅What are the current HSBC Bank FD interest rates 2021?
Current interest for FD in HSBC Bank ranges between 2.25% - 4.00%.
✅Is there any minimum amount that I have to give for opening a Fixed Deposit with HSBC Bank?
The minimum deposit amount required to book an FD with HSBC Bank is .
✅Is it possible to change the tenure of my existing fixed deposit account with HSBC Bank?
No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.
✅What are the implications of opening an FD bank account without having PAN?
Following are the implications for the customers opening an FD account with HSBC Bank without their PAN card
✅Can a customer open an FD account online in HSBC Bank?
Yes, you can submit your application for opening an FD account on the website of HSBC Bank. After submitting the application, you will be contacted by the bank’s representative for the further process, which includes filling an application process and submitting KYC documents.
✅In how many years FD will double in HSBC Bank?
The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 the 4.00%. For HSBC Bank FD the number of years in which your FD will get doubled is; 72/4.00 = 18
✅What is the interest of 1 lakh in the HSBC Bank?
The interest on HSBC Bank fixed deposit depends on the tenure of the FD for which it is deposited. Below mentioned is the HSBC Bank FD interest rate 2021 across different tenures.
| Tenure | Interest Rate |
|---|---|
| 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 94 days | 3.00% |
| 95 days to 179 days | 3.00% |
| 180 days to 269 days | 3.00% |
| 180 days | 3.00% |
| 270 days to 364 days | 3.10% |
| 365 days | 3.10% |
| 366 days to 399 days | 3.10% |
| 400 days | 3.25% |
| 401 days to 17 months 29 days | 3.25% |
| 600 days | 3.75% |
| 601 days to 699 days | 3.30% |
| 700 days | 3.75% |
| 701 days to 730 days | 3.50% |
| 731 days | 3.50% |
| 732 days to 35 months 29 days | 3.60% |
| 18 months to 599 days | 3.30% |
| 36 months to 36 months 29 days | 4.00% |
| 37 months to 47 months 29 days | 4.00% |
| 48 months to 60 months | 4.00% |
- 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%.
