When you use or foresee a need for foreign currency in the near future, a foreign currency fixed deposit is an ideal option to consider. You can choose to make your deposits in a wide range of currencies. HSBC accept deposits in the form of:
- Telegraphic transfers
- Demand drafts
HSBC Candian FD Schems Singapore
The HSBC Foreign Currency Deposits offers attractive interest rate packages for different customers of the bank. HSBC offers exclusive rates for new customers, HSBC Advance customers and HSBC Premier Customers. The bank offers a choice between two different types of Foreign Currency Deposit accounts.
Find below the different types Foreign Currency Deposit accounts offered by HSBC, Singapore –
- Foreign Currency Current Account
- Foreign Currency Time Deposit
Foreign Currency Current Account
- This is an effective way to invest your hard earned money beyond the shores of Singapore.
- The minimum deposit amount for the CAD (Canadian Dollar) is $ 25, 000.
- This deposit offers flexible placement options, withdrawals and renewals.
- As there are no restrictions on the exchange controls on the island currently, your funds can be remitted in and out of Singapore with utmost ease and convenience.
- You additionally have an added convenience of holding an ATM Card, Internet Banking and Phone Banking Services.
Foreign Currency Time Deposit
- Both, residents and non – residents of Singapore who are at least 18 years of age are eligible to apply for this Time Deposit.
- The minimum deposit amount for the CAD (Canadian Dollar) is an equivalent of $ 5, 000 and above.
- This account also provides easy to read monthly statements.
- The rate of interest for a HSBC Canadian Dollar Foreign Currency Fixed Deposit ranges between 0% p.a. and 1.60% p.a.
- The interest rate is 0% p.a. for 2-week and 3-week tenors.
- HSBC offers preferential interest rates for HSBC Premier and HSBC Advance customers.