• HSBC Bank 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.

    HSBC Singapore Dollar Time Deposit Interest Rates 2017

    Retail Banking Customers:

    SGD

    1 Month

    3 Months

    6 Months

    9 Months

    12 Months

    Interest rates (p.a.)

    Between S$5,000 and S$49,999

    0.05%

    0.10%

    0.15%

    0.20%

    0.25%

    Between S$50,000 and S$99,999

    0.05%

    0.10%

    0.15%

    0.20%

    0.25%

    Between S$100,000 and S$199,999

    0.05%

    0.10%

    0.15%

    0.20%

    0.25%

    Between S$200,000 and S$499,999

    0.05%

    0.10%

    0.15%

    0.20%

    0.25%

    Between S$500,000 and S$999,999

    0.05%

    0.10%

    0.15%

    0.20%

    0.25%

    S$1 million and above

    0.05%

    0.10%

    0.15%

    0.20%

    0.25%

    Premier Banking Customers:

    SGD

    1 Month

    3 Months

    6 Months

    9 Months

    12 Months

    Interest rates (p.a.)

    Between S$5,000 and S$49,999

    0.08%

    0.13%

    0.18%

    0.23%

    0.28%

    Between S$50,000 and S$99,999

    0.08%

    0.13%

    0.18%

    0.23%

    0.28%

    Between S$100,000 and S$199,999

    0.08%

    0.13%

    0.18%

    0.23%

    0.28%

    Between S$200,000 and S$499,999

    0.08%

    0.13%

    0.18%

    0.23%

    0.28%

    Between S$500,000 and S$999,999

    0.08%

    0.13%

    0.18%

    0.23%

    0.28%

    S$1 million and above

    0.08%

    0.13%

    0.18%

    0.23%

    0.28%

    Advance Banking Customers:

    SGD

    1 Month

    3 Months

    6 Months

    9 Months

    12 Months

    Interest rates (p.a.)

    Between S$5,000 and S$49,999

    0.05%

    0.10%

    0.15%

    0.20%

    0.25%

    Between S$50,000 and S$99,999

    0.05%

    0.10%

    0.15%

    0.20%

    0.25%

    Between S$100,000 and S$199,999

    0.05%

    0.10%

    0.15%

    0.20%

    0.25%

    Between S$200,000 and S$499,999

    0.05%

    0.10%

    0.15%

    0.20%

    0.25%

    Between S$500,000 and S$999,999

    0.05%

    0.10%

    0.15%

    0.20%

    0.25%

    S$1 million and above

    0.05%

    0.10%

    0.15%

    0.20%

    0.25%

    HSBC Foreign Currency Time Deposit Interest Rates 2017

    HSBC Foreign Currency Time Deposit Interest Rates 2017 (United States Dollar):

    Retail Banking Customers:

    USD

    2 Week

    3 Weeks

    1 Month

    2 Months

    3 Months

    6 Months

    9 Months

    12 Months

    Interest rates (p.a.)

    Between USD25,000 and USD49,999

    0%

    0%

    0%

    0.02%

    0.07%

    0.23%

    0.27%

    0.30%

    Between USD50,000 and USD99,999

    0%

    0%

    0.18%

    0.22%

    0.27%

    0.53%

    0.57%

    0.60%

    Between USD100,000 and USD249,999

    0%

    0%

    0.48%

    0.52%

    0.57%

    0.68%

    0.72%

    0.75%

    Between USD250,000 and USD499,999

    0%

    0%

    0.58%

    0.62%

    0.67%

    0.78%

    0.82%

    0.85%

    Between USD500,000 and USD999,999

    0.11%

    0.12%

    0.63%

    0.67%

    0.72%

    0.83%

    0.87%

    0.90%

    USD1 million and above

    0.16%

    0.17%

    0.73%

    0.77%

    0.82%

    0.93%

    0.97%

    1%

    Premier Banking Customers:

    USD

    2 Week

    3 Weeks

    1 Month

    2 Months

    3 Months

    6 Months

    9 Months

    12 Months

    Interest rates (p.a.)

    Between USD25,000 and USD49,999

    0%

    0%

    0.18%

    0.22%

    0.27%

    0.43%

    0.47%

    0.50%

    Between USD50,000 and USD99,999

    0%

    0%

    0.38%

    0.42%

    0.47%

    0.73%

    0.77%

    0.80%

    Between USD100,000 and USD249,999

    0%

    0%

    0.68%

    0.72%

    0.77%

    0.88%

    0.920%

    0.95%

    Between USD250,000 and USD499,999

    0%

    0%

    0.78%

    0.82%

    0.87%

    0.98%

    1.02%

    1.05%

    Between USD500,000 and USD999,999

    0.11%

    0.12%

    0.83%

    0.87%

    0.92%

    1.03%

    1.07%

    1.1%

    USD1 million and above

    0.16%

    0.17%

    0.93%

    0.97%

    1.02%

    1.13%

    1.17%

    1.2%

    Advance Banking Customers:

    USD

    2 Week

    3 Weeks

    1 Month

    2 Months

    3 Months

    6 Months

    9 Months

    12 Months

    Interest rates (p.a.)

    Between USD25,000 and USD49,999

    0%

    0%

    0.03%

    0.07%

    0.12%

    0.28%

    0.32%

    0.35%

    Between USD50,000 and USD99,999

    0%

    0%

    0.23%

    0.27%

    0.32%

    0.58%

    0.62%

    0.65%

    Between USD100,000 and USD249,999

    0%

    0%

    0.53%

    0.57%

    0.62%

    0.73%

    0.77%

    0.80%

    Between USD250,000 and USD499,999

    0%

    0%

    0.63%

    0.67%

    0.72%

    0.83%

    0.87%

    0.90%

    Between USD500,000 and USD999,999

    0.11%

    0.12%

    0.68%

    0.72%

    0.77%

    0.88%

    0.92%

    0.95%

    USD1 million and above

    0.16%

    0.17%

    0.78%

    0.82%

    0.87%

    0.98%

    1.02%

    1.05%

    HSBC Foreign Currency Time Deposit Interest Rates 2017 (Great Britain Pound/Sterling Pound):

    Premier Banking Customers:

    GBP

    2 Week

    3 Weeks

    1 Month

    2 Months

    3 Months

    6 Months

    9 Months

    12 Months

    Interest rates (p.a.)

    Between GBP25,000 and GBP49,999

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    Between GBP50,000 and GBP99,999

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    Between GBP100,000 and GBP249,999

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    Between GBP250,000 and GBP499,999

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    Between GBP500,000 and GBP999,999

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    GBP1 million and above

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.00%

    0.04%

    Advance and Retail Banking Customers:

    • The available tenures for foreign currency time deposit (GBP) are 2 weeks, 3 weeks, 1 month, 2 months, 3 months, 6 months, 9 months and 12 months.
    • The interest rate on ALL tenures offered is 0.00% p.a.
    • The minimum placement amount to open a foreign currency time deposit (GBP) is GBP25,000.

    HSBC Foreign Currency Time Deposit Interest Rates 2017 (Australian Dollar):

    Retail Banking Customers:

    AUD

    2 Week

    3 Weeks

    1 Month

    2 Months

    3 Months

    6 Months

    9 Months

    12 Months

    Interest rates (p.a.)

    Between AUD25,000 and AUD49,999

    0%

    0%

    0%

    0%

    0%

    0.23%

    0%

    0.27%

    Between AUD50,000 and AUD99,999

    0%

    0%

    0.16%

    0.23%

    0.28%

    0.53%

    0%

    0.57%

    Between AUD100,000 and AUD249,999

    0%

    0%

    0.46%

    0.53%

    0.58%

    0.73%

    0%

    0.77%

    Between AUD250,000 and AUD499,999

    0%

    0%

    0.71%

    0.78%

    0.83%

    0.93%

    0%

    1.07%

    Between AUD500,000 and AUD999,999

    0%

    0%

    0.81%

    0.88%

    0.93%

    1.03%

    0%

    1.12%

    AUD1 million and above

    0%

    0%

    0.91%

    0.98%

    1.03%

    1.08%

    0%

    1.17%

    Premier Banking Customers:

    AUD

    2 Week

    3 Weeks

    1 Month

    2 Months

    3 Months

    6 Months

    9 Months

    12 Months

    Interest rates (p.a.)

    Between AUD25,000 and AUD49,999

    0%

    0%

    0.06%

    0.13%

    0.18%

    0.43%

    0%

    0.47%

    Between AUD50,000 and AUD99,999

    0%

    0%

    0.36%

    0.43%

    0.48%

    0.73%

    0%

    0.77%

    Between AUD100,000 and AUD249,999

    0%

    0%

    0.66%

    0.73%

    0.78%

    0.93%

    0%

    0.97%

    Between AUD250,000 and AUD499,999

    0%

    0%

    0.91%

    0.98%

    1.03%

    1.13%

    0%

    1.27%

    Between AUD500,000 and AUD999,999

    0%

    0%

    1.01%

    1.08%

    1.13%

    1.23%

    0%

    1.32%

    AUD1 million and above

    0%

    0%

    1.11%

    1.18%

    1.23%

    1.28%

    0%

    1.37%

    Advance Banking Customers:

    AUD

    2 Week

    3 Weeks

    1 Month

    2 Months

    3 Months

    6 Months

    9 Months

    12 Months

    Interest rates (p.a.)

    Between AUD25,000 and AUD49,999

    0%

    0%

    0%

    0%

    0.03%

    0.28%

    0%

    0.32%

    Between AUD50,000 and AUD99,999

    0%

    0%

    0.21%

    0.28%

    0.33%

    0.58%

    0%

    0.62%

    Between AUD100,000 and AUD249,999

    0%

    0%

    0.51%

    0.58%

    0.63%

    0.78%

    0%

    0.82%

    Between AUD250,000 and AUD499,999

    0%

    0%

    0.76%

    0.83%

    0.88%

    0.98%

    0%

    1.12%

    Between AUD500,000 and AUD999,999

    0%

    0%

    0.86%

    0.93%

    0.98%

    1.08%

    0%

    1.17%

    AUD1 million and above

    0%

    0%

    0.96%

    1.03%

    1.08%

    1.13%

    0%

    1.22%

    HSBC Foreign Currency Time Deposit Interest Rates (Euro):

    Premier, Advance and Retail Banking Customers:

    • The available tenures for foreign currency time deposit (EUR) are 2 weeks, 3 weeks, 1 month, 2 months, 3 months, 6 months, 9 months and 12 months.
    • The interest rate for ALL tenures offered is 0.00% p.a.
    • The minimum placement amount to open a foreign currency time deposit (EUR) is EUR25,000.

    HSBC Foreign Currency Time Deposit Interest Rates 2017 (Chinese Renminbi):

    This option is not available for retail banking customers.

    Premier Banking Customers:

    CNY

    2 Week

    3 Weeks

    1 Month

    2 Months

    3 Months

    6 Months

    9 Months

    12 Months

    Interest rates (p.a.)

    Between CNY250,000 and CNY349,999

    0%

    0%

    0.61%

    1.16%

    1.24%

    1.49%

    0%

    1.55%

    Between CNY350,000 and CNY999,999

    0%

    0%

    0.61%

    1.16%

    1.24%

    1.49%

    0%

    1.55%

    Between CNY1 million and CNY4,999,999

    0%

    0%

    0.61%

    1.16%

    1.24%

    1.49%

    0%

    1.55%

    Between CNY5 million and CNY9,999,999

    0%

    0%

    0.61%

    1.16%

    1.24%

    1.49%

    0%

    1.55%

    CNY10 million and above

    0%

    0%

    0.61%

    1.16%

    1.24%

    1.49%

    0%

    1.55%

    Advance Banking Customers:

    CNY

    2 Week

    3 Weeks

    1 Month

    2 Months

    3 Months

    6 Months

    9 Months

    12 Months

    Interest rates (p.a.)

    Between CNY250,000 and CNY349,999

    0%

    0%

    0.46%

    1.01%

    1.09%

    1.34%

    0%

    1.40%

    Between CNY350,000 and CNY999,999

    0%

    0%

    0.46%

    1.01%

    1.09%

    1.34%

    0%

    1.40%

    Between CNY1 million and CNY4,999,999

    0%

    0%

    0.46%

    1.01%

    1.09%

    1.34%

    0%

    1.40%

    Between CNY5 million and CNY9,999,999

    0%

    0%

    0.46%

    1.01%

    1.09%

    1.34%

    0%

    1.40%

    CNY10 million and above

    0%

    0%

    0.46%

    1.01%

    1.09%

    1.34%

    0%

    1.40%

    HSBC Foreign Currency Time Deposit Interest Rates 2017 (Hong Kong Dollar):

    Retail Banking Customers:

    HKD

    2 Week

    3 Weeks

    1 Month

    2 Months

    3 Months

    6 Months

    9 Months

    12 Months

    Interest rates (p.a.)

    Between HKD100,000 and HKD999,999

    0%

    0%

    0%

    0%

    0%

    0%

    0%

    0.05%

    Between HKD1 million and HKD4,999,999

    0%

    0%

    0%

    0%

    0%

    0.02%

    0%

    0.17%

    Between HKD5 million and HKD9,999,999

    0%

    0%

    0%

    0%

    0.06%

    0.15%

    0%

    0.30%

    HKD10 million and above

    0%

    0%

    0%

    0.11%

    0.26%

    0.35%

    0%

    0.50%

    Premier Banking Customers:

    HKD

    2 Week

    3 Weeks

    1 Month

    2 Months

    3 Months

    6 Months

    9 Months

    12 Months

    Interest rates (p.a.)

    Between HKD100,000 and HKD999,999

    0%

    0%

    0%

    0%

    0.01%

    0.10%

    0%

    0.25%

    Between HKD1 million and HKD4,999,999

    0%

    0%

    0%

    0%

    0.13%

    0.22%

    0%

    0.37%

    Between HKD5 million and HKD9,999,999

    0%

    0%

    0%

    0.11%

    0.26%

    0.35%

    0%

    0.50%

    HKD10 million and above

    0%

    0%

    0.12%

    0.31%

    0.46%

    0.55%

    0%

    0.70%

    Advance Banking Customers:

    HKD

    2 Week

    3 Weeks

    1 Month

    2 Months

    3 Months

    6 Months

    9 Months

    12 Months

    Interest rates (p.a.)

    Between HKD100,000 and HKD999,999

    0%

    0%

    0%

    0%

    0.01%

    0.10%

    0%

    0.25%

    Between HKD1 million and HKD4,999,999

    0%

    0%

    0%

    0%

    0.13%

    0.22%

    0%

    0.37%

    Between HKD5 million and HKD9,999,999

    0%

    0%

    0%

    0.11%

    0.26%

    0.35%

    0%

    0.50%

    HKD10 million and above

    0%

    0%

    0.12%

    0.31%

    0.46%

    0.55%

    0%

    0.70%

    HSBC Fixed Deposit Schemes

    Singapore Dollar Time Deposit:

    • The minimum deposit amount to open a Singapore Dollar Time Deposit account is S$5,000.
    • Available tenures for this deposit include 1 month, 3 months, 6 months, 9 months and 12 months.
    • Premature withdrawals are allowed on this deposit account.
    • This deposit account comes with an automatic renewal facility wherein your account can be automatically renewed when it reaches its maturity period.
    • You will earn higher interest rates on the Singapore Dollar Time Deposit when compared to an ordinary savings account.
    • The Singapore Dollar Time Deposit is insured by the Singapore Deposit Insurance Corporation.

    Foreign Currency Time Deposit:

    • The minimum placement amount for USD, GBP, AUD and EUR is 25,000 units in the respective currency. The minimum placement amount for HKD is HKD100,000 and the minimum placement amount for CNY is CNY250,000.
    • Available tenures for this deposit include 2 weeks, 3 weeks, 1 month, 2 months, 3 months, 6 months, 9 months and 12 months.
    • Premature withdrawals are allowed on this deposit account.

    Other products offered by HSBC Singapore

    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.

    11. Will I earn any interest if I make a premature withdrawal of my time deposit account?
    12. Premature withdrawals are allowed on HSBC Singapore Dollar as well as Foreign Currency Time Deposits. Any interest (if applicable) will be determined as per the bank’s discretion. However, in case of a Foreign Currency Time Deposit, you may receive a lesser amount that the original placement amount you provided to open the deposit upon making a premature withdrawal. This is because of fluctuations in foreign exchange. In case of a Singapore Dollar Time Deposit, you will not receive a lesser amount than your original placement amount if you make a premature withdrawal.

    13. Will I have to pay tax on the interest earned on my Foreign Currency Time Deposit account?
    14. If you are a non-resident of Singapore, then you do not have to pay Singapore income tax or withholding tax on the interest earned on your Foreign Currency Time Deposit.

    15. Under automatic renewal of my Foreign Currency Time Deposit account, will the amount including the interest earned be renewed?
    16. Yes. When your deposit matures, the placement amount plus the interest earned on your deposit will be automatically renewed at the prevailing interest rates.

    17. Can HSBC retail customers open a Foreign Currency Time Deposit in Chinese Renminbi currency?
    18. No. Currently only HSBC Premier and Advance Banking Customers are eligible to open a Foreign Currency Time Deposit in Chinese Renminbi currency (CNY). A minimum placement amount of CNY250,000 will be required to open this account. CNY denominated notes will not be accepted to open this account.

    19. What is the Deposit Insurance Scheme?
    20. The Deposit Insurance Scheme is an initiative of the MAS (Monetary Authority of Singapore) to insure the deposits of all licensed banks and financial institutions in Singapore up to S$50,000 per deposit account. Therefore, your Singapore Dollar Time Deposit with HSBC will be insured by the Deposit Insurance Corporation up to S$50,000. However, note that this scheme is not applicable on Foreign Currency Time Deposit accounts.

    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

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