• HSBC Bank Fixed Deposit

    HSBC Fixed Deposit

    Every individual needs to save up for the future and the best way to do that is to open a time deposit account. Earn attractive returns and watch your money grow with HSBC’s attractive time deposit schemes.

    HSBC Singapore Overview

    HSBC Bank Singapore holds the distinction of being one of the earliest banks to be established in the island country and is among the top financial institutions in Singapore today. Catering to multinationals, entrepreneurs, businesses, private banking clients, institutions and retail customers, HSBC has a strong foothold in Singapore’s flourishing financial industry. HSBC in Singapore offers a wide spectrum of banking products ranging from retail banking, commercial banking, wealth management, investment banking, private banking, trustee services, insurance, capital market services and securities. Under the retail banking umbrella, HSBC has a variety of deposit products, a key entity being HSBC Bank time deposits, which give Singaporeans the best choices for saving and securing their funds. With the first branch set up in 1877, HSBC Singapore now has a robust retail network with HSBC Premier Centres and self-service terminals strategically located across the island.

    Why should you open a HSBC Singapore Time Deposit Account?

    Singaporeans can earn attractive interests and gain substantially with HSBC time deposit accounts when compared to traditional savings accounts.

    Features and Benefits of HSBC Time Deposit Accounts

    Being a smart and convenient way of investing, HSBC in Singapore offers a variety of time deposit schemes and customers can choose any deposit they find suitable to their financial needs.

    Singapore Dollar Time Deposits

    • Invest and watch your money grow with HSBC Singapore Dollar time deposits with high interest rates and flexible deposit tenures ranging from 1 to 12 months.
    • The term deposit also offers the option of automatic account renewals after completion of the tenure of the deposit.
    • A minimum initial deposit amount of S$5,000 is mandatory for opening a Singapore dollar time deposit account.
    • For overnight Singapore Dollar time deposit accounts, a minimum placement amount of S$1 million is required.

    HSBC Bank Fixed Deposit Interest Rates

    Singaporeans can earn higher interest rates on HSBC time deposit accounts and also have the option of opening an account with any initial deposit amount as given in the tables below.

    Singapore Dollar Time Deposit interest rates

    Placement Amount Interest Rates
    1 Month 3 Months 6 Months 9 Months 12 Months
    S$5,000 - S$49,999 0.05% 0.10% 0.15% 0.20% 0.25%
    S$50,000 - S$99,999 0.05% 0.10% 0.15% 0.20% 0.25%
    S$100,000 - S$199,999 0.05% 0.10% 0.15% 0.20% 0.25%
    S$200,000 - S$499,999 0.05% 0.10% 0.15% 0.20% 0.25%
    S$500,000 - S$999,999 0.05% 0.10% 0.15% 0.20% 0.25%
    S$1,000,000 and above 0.05% 0.10% 0.15% 0.20% 0.25%

    Singapore Dollar Time Deposit rates – HSBC Advance Accounts

    Placement Amount Interest Rates
    1 Month 3 Months 6 Months 9 Months 12 Months
    S$5,000 - S$49,999 0.05% 0.10% 0.15% 0.20% 0.25%
    S$50,000 - S$99,999 0.05% 0.10% 0.15% 0.20% 0.25%
    S$100,000 - S$199,999 0.05% 0.10% 0.15% 0.20% 0.25%
    S$200,000 - S$499,999 0.05% 0.10% 0.15% 0.20% 0.25%
    S$500,000 - S$999,999 0.05% 0.10% 0.15% 0.20% 0.25%
    S$1,000,000 and above 0.05% 0.10% 0.15% 0.20% 0.25%

    Singapore Dollar Time Deposit rates – HSBC Premier Accounts

    Placement Amount Interest Rates
    1 Month 3 Months 6 Months 9 Months 12 Months
    S$5,000 - S$49,999 0.08% 0.13% 0.18% 0.20% 0.28%
    S$50,000 - S$99,999 0.08% 0.13% 0.18% 0.23% 0.28%
    S$100,000 - S$199,999 0.08% 0.13% 0.18% 0.23% 0.28%
    S$200,000 - S$499,999 0.08% 0.13% 0.18% 0.23% 0.28%
    S$500,000 - S$999,999 0.08% 0.13% 0.18% 0.23% 0.28%
    S$1,000,000 and above 0.08% 0.13% 0.18% 0.23% 0.28%

    Foreign Currency Time Deposits

    • HSBC’s foreign currency time deposits make it very easy for Singaporeans to invest in a currency of their choice with flexible placements, withdrawal options and automatic renewals.
    • Time deposits can be opened in ten major currencies with deposit tenures ranging from 2 weeks up to 12 months.
    • Foreign currency deposit account holders can enjoy attractive interest rates depending on the currency of the term deposit. The interest earned is paid to the account holder on maturity of the time deposit.
    • HSBC foreign currency time deposits also offer the additional advantage of capital gains if exchange rates are favourable.
    • On maturity of a time deposit account, HSBC automatically renews the deposit at existing interest rates. The interest rate earned till date is also added automatically with the renewal.
    • An equivalent of $25,000 is the minimum initial deposit amount required while opening time deposits in other currencies.
    • Minimum Placement Amounts by Currency :
      Currency Placement amount
      USD USD 25,000
      Sterling Pounds GBP 25,000
      Swiss Francs CHF 25,000
      Japanese Yen JPY 10M
      AUD AUD 25,000
      HKD HKD 100,000
      CAD CAD 25,000
      NZD NZD 25,000
      Euros EUR 25,000
      Renminbi CNY 250,000

     

    Click here to know the foreign currency fixed deposit rates of interest offered by HSBC Bank, Singapore.

    HSBC Time Deposit Promotions

    HSBC, being one of the leading private sector banks in the world, provides several promotion offers for its customers. On your Singapore Dollar Time Deposit for 11 months you can avail interest rate of up to 1.6% per annum. Along with this, you can enjoy a luxurious stay, worth more than S$ 1,100, at Millennium Hotel and Resorts.

    Keep enjoying the precious moments of your life and let your hard earned money work harder for you.

    Singapore Dollar Fixed / Time Deposit period Existing and new Premier customers of HSBC Existing and new Advance customers of HSBC
    11 months 1.6% per annum 1.55% per annum

    HSBC also allows you to earn rewards on your time deposits

    Fresh Funds Rewards
    S$ 200,000 Shopping vouchers from HSBC worth S$ 150
    S$ 500,000 Shopping vouchers from HSBC worth S$ 400
    S$ 1.2 million Enjoy at stay in the Club Room of Millennium Hotels and Resorts for 3 days and 2 nights. The package is worth more than S$ 1,100

    HSBC Time Deposit Insurance Scheme

    All Singapore dollar time deposits of non-bank depositors are insured up to S$50,000 by the Singapore Deposit Insurance Corporation.

    Other products offered by HSBC Singapore

    HSBC Singapore Time Deposit FAQs

    1. How is the interest paid out for HSBC term deposits?
    2. The interest rate is generally paid out on the maturity date to HSBC customers.

    3. How can deposit payments be made for a HSBC time deposit account?
    4. HSBC bank accepts deposits in various forms namely cheques, cash, demand drafts or telegraphic transfers.

    5. Does a HSBC time deposit account offer tax exemption benefits?
    6. Non-residents do not get any tax benefits for interests earned from Foreign Currency deposit accounts. Customers who hold Foreign Currency deposits with Asian currency units from banks in Singapore, but do not reside in Singapore will be exempted from Singapore estate duty and any money remittance can also be done easily.

    7. Does HSBC Singapore charge any pre-withdrawal penalty for time deposit accounts?
    8. Yes, HSBC imposes a premature withdrawal penalty on account holders closing their time deposit accounts before the completion of the deposit tenure.

    9. What are the types of deposit accounts that are not insured by the Singapore Deposit Insurance Corporation?
    10. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

    News About HSBC Fixed Deposit

    • Starting Young- Age Just a Number for Singapore’s Start-up Entrepreneurs

      A study by HSBC has revealed Singaporean entrepreneurs set up their businesses much earlier than their global counterparts. This is good news for the island nation, which is looking at establishing its prominence as a hub for entrepreneurs.

      A survey revealed Singaporeans start their first business by 28, much lower than the average of 34 in the West.

      The capital for their businesses comes from family owned wealth in 38% of the respondents surveyed, indicating these business owners are not just young, but wealthy as well. 21% secure the money from friends. While lower than the Asian trends for these, Singaporeans are still above peers in Western nations, 24% of whom seek funding from family for their business ventures.

      14th December 2015

    • HSBC Beats Forecasts with A 10 Percent Rise in Profit

      HSBC Holdings, one of the largest banking and financial institutions in the world, exceeded market expectations as a company registered a 10 percent rise in its profits for the first half of 2015. The company announced its performance report on 3 August, 2015 and its strong performance can be attributed to its tremendous growth in Hong Kong.

      HSBC Bank recently agreed to sell off Banco Bradesco SA, the 2nd largest private-sector bank in Brazil for an amount of $5.2 billion (17.6 billion reais), which is a lot higher than the amount it has expected to earn from selling this Brazilian bank. HSBC took the decision to sell off this bank as it wants to get rid of businesses that are not performing as expected. HSBC is in fact the biggest bank in Europe and it is deeply connected to financial markets around the world.

      HSBC holdings announced that its profit for the first 6 month of 2015 was US$13.6 billion, which increased from $12.3 billion in 2014. Thus, the bank was able to perform much better than how the analysts have expected it to perform as most analysts believed that the bank will earn a maximum profit of $12.5 billion in the first quarter of 2015. This data was revealed in a survey conducted by the bank.

      In the recent past, HSBC has become very dependent on its business in the island of Hong Kong to boost its overall profitability as its business has slowed down a little bit in many of the emerging markets.

      3rd August 2015

    Fixed Deposits from Top Banks
    Foreign Currency Fixed Deposits from Top Banks
    Currency Specific Fixed Deposit
    US Dollar Foreign Currency Fixed Deposit by Bank
    Australian Dollar Foreign Currency Fixed Deposit by Bank
    GBP Foreign Currency Fixed Deposit by Bank
    NZD Foreign Currency Fixed Deposit by Bank
    Euro Foreign Currency Fixed Deposit by Bank
    Canadian Dollar Foreign Currency Fixed Deposit by Bank
    Fixed Deposit Promotion by Banks
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