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Fincash » HSBC Bank FD Rates

HSBC Bank FD Rates

Updated on November 17, 2019 , 178 views

The fixed deposit offered by HSBC Bank is a great way to save money. The interest rates offered on the deposits are quite lucrative and the tenure options too look good.

Fixed Deposit of FD refers to an investment avenue which is generally offered by banks and post office. In case of FD, people need to deposit a considerable amount as a one-time payment for a fixed time frame. Here, people get back their investment amount at the end of the tenure. However, people cannot break the FD during the tenure and if they try to break they need to pay some charges to the bank. The FD income earns interest on the investment. This interest income earned is taxable in the hands of investors.

HSBC-Bank

HSBC FD Interest Rates

Here's the interest rate of HSBC fixed deposits for amount less than INR 1 crore

w.e.f- 7th June 2018

Term Regular Interest Rate (% p.a.) Senior Citizen's Interest Rate (% p.a.)
7 Days 3.15 3.65
8 to 14 Days 3.15 3.65
15 to 29 Days 3.25 3.75
30 to 59 Days 3.50 4.00
60 to 89 Days 4.25 4.75
90 to 93 Days 5.00 5.50
94 Days 6.00 6.50
95 to 179 Days 5.00 5.50
180 Days 5.00 5.50
181 to 269 Days 5.00 5.50
270 to 364 Days 5.00 5.50
365 Days 5.00 5.50
366 to 399 Days 5.00 5.50
400 Days 6.00 6.50
401 Days to less than 18 months 5.00 5.50
18 months to 730 days 6.25 6.75
731 Days 7.00 7.50
732 Days to less than 36 months 5.00 5.50
36 months to less than 37 months 5.00 5.50
37 months to less than 48 months 5.00 5.50

HSBC FD Account Features

  • The fixed deposit offered by HSBC Bank is to invest in for a secure future
  • A user can open a fixed deposit account online in a few steps with INR 10,000
  • A user has the flexibility to choose the best tenure from a wide range as per convenience
  • One can earn loyalty points on booking a fixed deposit account online

HSBC Bank FD Premature withdrawal

HSBC bank allows premature withdrawals of fixed deposit, however, a predetermined penalty will be levied in such a case- 1 percent penalty rate is applicable on premature withdrawal. The depositor earns 1 percent lesser rate compared to the existing interest rate decided during scheme selection.

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Documents Required to Open FD Account in HSBC

1. Identity Proof

  • PAN Card
  • Voter ID Card
  • Driving License
  • Passport

2. Address Proof

  • Telephone Bill
  • Electricity Bill
  • Bank statement With Cheque

Are you Looking for Alternative to Banks Savings Account in Mutual Funds?

Investors who are thinking of parking their money for the short term, you can also consider liquid Mutual Funds. Liquid Funds are an ideal alternative to FDs as they invest in low-risk debt and money market securities.

Here are some features of liquid funds you should know:

  • These funds come with no lock-in period
  • The money is invested in money market instruments like a certificate of deposits, commercial papers, treasury bills, and term deposits
  • You can exit from the scheme anytime you want. Also, the funds have no entry load and exit loads
  • The underlying assets have low maturity period and provide you low-interest rates
  • Most times, you may also get returns higher than bank Savings Account

Best Liquid Funds to Invest 2019

FundNAVNet Assets (Cr)1 MO (%)3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2018 (%)
DHFL Pramerica Insta Cash Fund Growth ₹252.117
↑ 0.04
₹4680.41.43.2777.57.4
JM Liquid Fund Growth ₹53.0196
↑ 0.01
₹1,1090.41.43.16.977.57.4
Indiabulls Liquid Fund Growth ₹1,888.21
↑ 0.27
₹5450.41.43.16.86.97.57.3
Principal Cash Management Fund Growth ₹1,718.13
↑ 0.23
₹1970.41.42.96.43.75.5-1.8
Reliance Liquid Fund  Growth ₹4,729.22
↑ 0.75
₹28,8620.41.43.2777.47.4
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 19 Nov 19

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