HSBC is one of Singapore’s top banks and also operates the most number of branches in Singapore. The bank offers a spate of banking products ranging from credit products that include different types of loans and credit cards to investment and savings products such as exchange traded bonds and fixed deposits. The bank’s fixed deposit offerings are particularly worth mentioning – they offer higher returns over the course of the tenure.
Fixed Deposits, also known as time deposits, have always been known to be safe and secure investment instruments, offering impressive returns in the form of interest earned. As far as HSBC is concerned, the returns are guaranteed and tenures start from just 1-month, stretching up to 60 months depending on your convenience.
Let us look at some promotional offers extended by HSBC Bank under fixed deposits.
We also take a look at the various fixed deposit schemes offered by HSBC and why HSBC might well be your ideal choice if you are intending on opening a fixed deposit account.
HSBC Fixed Deposit Promotions Singapore
Following are details of HSBC’s fixed deposit promotions for 2017:
|Promotion||Valid up to||Eligibility||Promotion details|
|The HSBC Premier Dual Offer||31 October 2017||
• Minimum 15 years of age for ordinary citizens
• Minimum 55 years of age for senior citizens
M• inimum deposit of S$30,000
• Senior citizens will receive a bonus interest rate.
• Promotional rates are applicable for tenures of 3-months, 6-months, 12-months and 15-months.
HSBC Fixed Deposit Promo Accounts
HSBC offers two types of time deposit accounts:
- The Singapore Dollar Time Deposit (this is the conventional time deposit account)
- The Foreign Currency Time Deposit
Both these time deposits have their own features and benefits. While the Singapore Dollar Time Deposit allows investment only in Singaporean Dollars, the Foreign Currency Time Deposit allows for investment in currencies other than the Singapore Dollar.
The minimum deposit in the case of the Singapore Dollar Time Deposit is S$5,000.
Why Choose a Fixed Deposit Account from HSBC?
If you are deciding to open a fixed deposit account, HSBC might well be the perfect choice for you. Here is why:
- HSBC fixed deposits offer excellent flexibility. You can open a fixed deposit account from tenures ranging between 1-month and 60-months.
- All investments made in HSBC fixed deposit schemes are protected, safe and secure. Fixed deposits are safe financial instruments offering guaranteed returns.
- Interest rates on fixed deposits offered by HSBC are much higher than many banks in Singapore.
- You can choose from more than one fixed deposit scheme. Also, senior citizens get higher returns in comparison to ordinary citizens.
- You can make partial withdrawals from your fixed deposit account. This depends on your choice of tenure.
- The tenure for senior citizens starts from 12-months to enable them to get impressive returns. The maximum tenure is 60-months.