• HSBC Fixed Deposit Rates

    HSBC Fixed Deposit

    HSBC Fixed Deposit

    HSBC offers its Malaysian customers a wide range of banking solutions, which include fixed deposit schemes known as the HSBC Time Deposit. This fixed deposit scheme is popular investment option among the bank’s customers in Malaysia due to its safety as well as its penchant for earning customer substantial returns over a period of time.

    HSBC Bank Malaysia Berhad is a subsidiary of the The Hongkong and Shanghai Banking Corporation Group and was launched in Malaysia in 1984. It is currently the biggest foreign-owned bank in Malaysia and offers its customers a whole host of Islamic products and financial services through a network of 40 branches all over the country.

    Features of HSBC FD

    The HSBC Time Deposit showcases the following attractive features:

    • It gives customers a guarantee of fixed returns on all deposits they place with HSBC
    • The tenure of the fixed deposit ranges from one month to 5 years
    • Minimum deposit allowed under the terms of this fixed deposit is RM 5,000 for tenure of two months
    • Minimum deposit allowed under the terms of this fixed deposit for tenures exceeding two months is fixed at RM 1,000
    • Customers who already hold accounts with HSBC Malaysia, whether savings or current, are eligible to open an HSBC Time Deposit Account with the bank
    • Customers with access to HSBC’s online banking facility can also open an HSBC Time Deposit Account from the comfort of their home, rather than visiting any HSBC branches. This gives them the added advantage of managing their money from any location at any time

    HSBC Fixed Deposit Rates

    The HSBC Time Deposit offers customers attractive interest rates depending on the tenure chosen.

    Deposit

    Tenure

    Interest Rate

    RM 5,000 or above

    Period Ranging Between 1 -2 Months

    3.00% per annum

    RM 1,000 or above

    Period Ranging Between 3 - 5 Months

    3.10% per annum

    RM 1,000 or above

    Period Ranging Between 6 - 11 Months

    3.15% per annum

    RM 1,000 or above

    Period of 12 months or 1 year

    3.30% per annum

    RM 1,000 or above

    Period Ranging Between 13 - 60 Months

    3.30% per annum

    HSBC FD FAQs

    Q. What are the terms and conditions with regards to payment of interest on premature withdrawals under the HSBC Time Deposit?

    A. For any withdrawals made before the maturity of the Time Deposit the following conditions apply:

    • For Time Deposits With Tenure of 3 Months or More - Interest will be paid only at half the contracted rate for each completed month if the amount is withdrawn by the account holder before the date of maturity
    • For Time Deposits With Tenure of Less Than 3 Months - No interest will be paid to the customer should he or she withdraw the amount before the date of maturity of the deposit
    • For Time Deposits With Tenure of More Than 13 Months - Interest will be paid to the account holder every half-yearly if required

    Q. How and when will the interest be paid to the customer by the bank?

    A. Any payment of interest will be paid to the account holder either on the maturity date or at periodic intervals. This will solely depend on the bank’s discretion.

    Q. What are the charges levied by the bank to obtain a Time Deposit advice?

    A. HSBC charges a nominal fee of RM 5.30 for every copy of Customer Request Time Deposit Advice requested by the customer

    Other Products offered by HSBC:

    Apart from offering Fixed Deposit,HSBC offers other products and services which include:

    News About HSBC Fixed Deposit Rates

    • Emerging market bonds find favour with HSBC in 2016

      The Hong Kong and Shanghai Banking Corporation, HSBC Holdings, Malaysia has said that the global demand for emerging market bonds is expected to rise in the coming financial year 2016. The company went ahead to say that the pain suffered by the markets globally, in 2015 is expected to yield returns to a selected few in the year 2016.

      HSBC counts bonds in Brazil and Indonesia to be the best bets for 2016. Goldman Sachs and Bank of America were joined by HSBC in putting an end to the emerging market sell-off caused by the slowdown of the Chinese stock market. The biggest shift of stand for HSBC has taken place in the Malaysian and Brazilian bonds where it believes most of the negative news has been from. HSBC is one of the most renowned international banks in malaysia with a host of banking products and services and a huge customer base.

      30th November 2015

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