Get preferential rates on HSBC Time Deposit account if you are an HSBC Premier customer. As another option, you can earn promotional rates when you open a Time Deposit (TMD)/Term Deposit-i (TD-i) and deposit money in US Dollars (USD). Check out the details of these promotions below.
HSBC Bank Fixed Deposit Promotion
You have to deposit the money in USD in a Time Deposit/Term Deposit-i account to earn promotional rates. The minimum deposit amount is set at USD10,000. Place the deposit for a period of 3 months to earn a promotional rate of 2.60% p.a.
|Currency||Minimum Deposit Amount||Promotional Rate||Deposit Tenure|
|US Dollars||USD10,000||2.60% p.a.||3 months|
The promotion includes 2 offers—Offer A and Offer B. The bank has specified different interest rates for each of these offers. However, other details such as minimum deposit and tenure remains the same. You have to place a minimum deposit of RM100,000 in a Time Deposit (TMD)/Term Deposit-i Account for a period of 6 months. Refer the table below for a summary of the promotion.
|Offer||Minimum Deposit Amount||Promotional Rate||Tenure||Maximum Deposit Amount|
|Offer A||RM100,000||4.00% p.a.||6 months||RM500,000|
|Offer B||4.28% p.a.|
HSBC Bank Fixed Deposit Promotion Start & End Date
The promotion is effective from 5 July 2018 and is valid until 30 September 2018.
The promotion commenced on 1 August 2018 and ends on 31 December 2018.
HSBC Bank Fixed Deposit Promotion Terms & Conditions
- The TMD/TD-i must be placed within 7 working days from the date of transfer of funds to your HSBC account.
- The deposit must be made at one of the HSBC Bank branches.
- No interest shall be paid for the TMD/TD-i that is uplifted before maturity.
- The deposit must be free of encumbrances and cannot be used as collateral for overdraft facility and financing.
- The TMD/TD-i will be automatically renewed for another cycle of 3 months at the prevailing FD board rates.
- The deposit must be placed in fresh funds only.
- You are allowed to get the benefits of either Offer A or Offer B and not both.
- A monthly cap is applicable to the total deposit amount that can be placed under the promotion.
- The deposit must be placed in fresh funds only.
- The placements must be made at one of the branches of HSBC Bank/HSBC Amanah Bank.
- The deposit must be placed within 7 days from the transfer of funds to your HSBC Premier Account and 30 days from the date of opening the account.
- If you uplift the deposit before maturity, the following terms will be applicable to TMD/TD-i:
- No interest will be paid if you uplift within 3 months.
- If the deposit is uplifted after 3 months and before maturity, half of the actual promotional rate will be paid for the completed number of months.
- Partial upliftment is not allowed.
- You cannot use the TMD/TD-i as collateral for Malaysia My Second Home (MM2H), overdraft scheme or any other financing.
- After maturity, the deposit account will automatically get renewed for another cycle of 6 months at the prevailing board rates.
Q. What are the eligibility criteria for promotion 1?
A. You can be a new or an existing customer of the bank. However, you need to open the either of the following accounts during the promotion period to be eligible for the promotional benefits:
- HSBC Foreign Currency Time Deposit Account in USD.
- HSBC Amanah Foreign Currency Term Deposit-i Account in USD.
Non-individuals and corporate customers are not eligible for the promotion.
Q. What are the participating products in promotion 2?
A. The participating products for promotion 2 are:
- HSBC Bank/ HSBC Amanah Premier Account.
- HSBC Bank Time Deposit (TMD).
- HSBC Bank Term Deposit-i (TD-i).
- HSBC Premier Travel Credit Card.
- HSBC Premier World Mastercard Credit Card.
- HSBC Amanah Premier World Mastercard Credit Card-i.
- HSBC Amanah Perks@Work.
Q. What does fresh fund mean?
A. Fresh fund means the amount must not be taken from any of the existing accounts maintained with HSBC Bank Malaysia. This is irrespective of the applicant’s account or other’s account.
Q. What are the eligibility criteria for promotion 2?
A. Offer A is valid only for new HSBC customers who become Premier customers within the promotion period.
Offer B is valid for:
- New HSBC Premier customers who does either of the following:
- Apply for or already own a HSBC Premier Travel Credit Card/HSBC Premier World Mastercard Credit Card/-i during the promotion.
- Sign-up for HSBC Amanah Perks@Work during the promotion period.
- Existing HSBC Premier customers who have received an SMS invitation to get the benefits of the promotion.
- Existing customers of HSBC Bank who have received an SMS invitation and upgraded the account to HSBC Premier Account during the promotion period.
Non-individual customers, non-premier account holders, and HSBC Bank/HSBC Amanah Bank staff are not eligible for the promotion.
Q. Is there a monthly cap on the allowed placements applicable to promotion 2?
A. Yes. A monthly cap of RM50 million is applicable to new Premier A and B placements. When it comes to existing customer placements, the monthly cap applicable is RM100 million.