Wednesday, February 8, 2023

HSBC Bank hikes FD Rates: General Public earns 7% on tenure

HSBC Bank hikes FD Rates: HSBC Bank has already given gifts to its customers before the new year. The bank has increased the interest rates on fixed deposits. This decision was taken after RBI’s increase in the repo rate. All other banks are also raising interest rates on fixed deposits. If you have a savings account in HSBC Bank, you can get good returns by investing your money in a fixed deposit account. You can now open a Fixed Deposit online in a few steps with Rs 10,000 only.

HSBC Bank hikes FD Rates

After increasing the repo rate by RBI, HSBC Bank will give interest at the rate of 2.85% to 7% (HSBC Bank hikes FD Rates) for a period of 7 days to 10 years to all its general customers. The bank currently offers an interest rate of 2.85% on fixed deposits maturing in 7 to 8 days and 3.00% on those maturing in 9 to 29 days. HSBC Bank offers a 3.40% interest rate on FDs maturing in 30 to 59 days and a 3.60% interest rate on FDs maturing in 60 to 89 days. After the increase in repo rates by RBI, HSBC Bank has increased the rate of all its fixed deposit schemes bank offers an interest rate of 3.80% to 6.25% on fixed deposits maturing in 94 days to 18 months.

On FDs maturing in 732 days to less than 36 months, the bank is now offering an interest rate of 6.50%, and on those maturing in 36 to 37 months, HSBC Bank is now offering an interest rate of 7% each.

Must Read this: – HDFC Bank hikes FD Rates: General Public is getting up to 7% Interest

HSBC Bank FD Interest Rates for Domestic Below Rs. 2 crore – General Public (HSBC Bank hikes FD Rates)

HSBC Bank hikes FD Rates
HSBC Bank hikes FD Rates: HSBC Bank India will now offer an interest rate of 6.50% on fixed deposits maturing from 732 days to less than 36 months and the bank is now promising an interest rate of 7% on the term deposits maturing in 36 to 37 months.
PeriodGeneral Public Rates (p.a.)
7 – 8 days2.85%
9 – 29 days3.00%
30 – 59 days3.40%
60 – 89 days3.60%
90 – 94 days3.80%
95 – 179 days4.00%
180 days4.50%
181 – 269 days3.25%
270 – 399 days3.10%
400 days3.25%
401 days to 18 months6.25%
18 months to 599 days3.30%
600 days3.75%
601 – 699 days3.30%
700 days3.75%
701 – 731 days3.50%
732 days to 36 months6.50%
36 to 37 months7.00%

Interest rates are subject to change from time to time. Applicable interest rates will be given on the date/time or receipt of the funds by the bank.

Features and Benefits of HSBC Bank hikes FD Rates

If you want to open your Fixed Deposit account in HSBC Bank, then you should know about the features and benefits of HSBC Bank hikes FD Rates.

  • Returns are guaranteed on the money kept in Fixed Deposit.
  • If you have a savings account with HSBC Bank, you can open your Fixed Deposits account easily
  • If you reinvest your money, then you get the benefits of compound interest.
  • Due to the current interest rate, you can double your investment very quickly.
  • The money invested under Fixed Deposits is not exposed to market risk.
  • Within Fixed Deposits, you get a tax saving Fixed Deposits scheme, in which you get an income tax rebate under Section 80C.

Fixed deposits are widely preferred by many as it offers guaranteed returns. When you invest money in fixed deposits, you can grow your savings for a financially secure future. At HSBC Bank, you can enjoy attractive FD interest rates that give you guaranteed returns regardless of market risk

How to invest in HSBC FD?

To open an HSBC Bank FD account, you must have an HSBC savings account. After that, you can open your FD account in different ways like Mobile App, Net Banking, and offline.

Internet Banking

You can open your FD account in HSBC Bank through net banking. So, you have to follow some easy steps, which are mentioned below:

  • Login to the Net Banking account.
  • Under the Transact tab, choose the Open Fixed Deposits option.
  • Next, choose the branch and fill out the tenure of the FD and investment amount. Furnish nominee details. Click on the Continue button, and then lastly confirm the details provided.
  • An investor can immediately download the fixed deposit receipt of the deposit.

HSBC Mobile App

Follow the steps mentioned ahead to open an FD account via HSBC Bank Mobile App-

  • Download the HSBC Bank App and sign in.
  • Go to the main menu option, and under the ‘Save’ tab, choose the ‘Deposit’ option to proceed.
  • Next, choose the ‘Open Fixed Deposit’ option.
  • Fill out all the necessary deposit details and nominee information.
  • After confirmation, the fixed deposit receipt/advice will be available for download immediately.

Opening HSBC Bank hike FD Rates Offline

For HSBC Bank FD Account Offline, you need to visit the nearest HSBC Bank Branch and fill FD Application Form. For the successful processing of the application, an FD receipt will be provided by HSBC Bank.

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