Time Deposit Account offered by HSBC Bank Malaysia Berhad, is a fixed deposit account that allows you to earn high returns on your deposited funds. You can enjoy competitive fixed interest rates with a flexible tenure period.
HSBC Fixed Deposit Interest Rates 2018
|HSBC Time Deposit Account Tenure||HSBC Time Deposit Account Interest Rate|
|1* month to 2 months||2.90% p.a.|
|3 months to 5 months||3.00% p.a.|
|6 months||3.10% p.a.|
|7 months to 11 months||3.15% p.a.|
|12 months to 17 months||3.15% p.a.|
|18 months to 23 months||3.50% p.a.|
|24 months to 35 months||3.65% p.a.|
|36 months to 47 months||3.75% p.a.|
|48 months to 59 months||4.05% p.a.|
|60 months||4.15% p.a.|
*Effective from 1 February 2018
*Minimum deposit of RM5,000 for one (1) month tenure
*Minimum deposit of RM5,000 for one (1) month tenure
Types of HSBC Time Deposit Accounts
HSBC offers two types of fixed deposit accounts. They are:
- HSBC Fixed Deposit Account: This is the basic fixed deposit account offered by HSBC. Your deposits will earn simple interest, unless HSBC dictates otherwise in written form.
- HSBC Foreign Currency Time Deposit Account: This fixed deposit will earn you returns on your foreign currency deposits. You can choose different tenures that range from 1 month up to 12 months.
Benefits of HSBC Fixed Deposit Accounts:
- You can deposit a minimum of RM1,000 for a fixed deposit tenure of 2 months and above.
- You can open a fixed deposit account for a tenure of one month when you deposit a minimum of RM5,000.
- You can check and manage your fixed deposit accounts easily and conveniently through online banking.
- You can open a fixed deposit account for up to 12 different foreign currencies.
- You can retain foreign currency funds that you receive from overseas in fixed deposits if you are a non-resident who is employed in Malaysia.
- You can choose a fixed deposit tenure from 1 month up to 60 months for Time Deposit account.
- You have the option of withdrawing your fixed deposit account before the maturity date.
- You can earn interest at periodic intervals if it is approved by HSBC.
- You can easily deposit your funds in Time Deposit account by means of a cheque.
- Your fixed deposits with HSBC are protected by PIDM.
Documents required to open HSBC Time Deposit accounts
|Malaysians Citizens and Residents||MyKad (Malaysian Identity Card)|
|Foreigners and Non-residents||Passport (Current and Valid) Employer’s Reference Letter Valid Working Permit|
HSBC FD Account for Foreigners
Foreigners can open a Foreign Currency FD account with HSBC. The minimum deposit amount as imposed by HSBC for this fixed deposit account is mentioned in the table below.
|Foreign Currency||Minimum Deposit Amount|
Place a minimum deposit of USD10,000 in an HSBC Time Deposit (TMD)/Term Deposit-i Account for a tenure of 3 months. A promotional rate of 2.60% p.a. is applicable. The deposit must be placed in one of the branches of HSBC Bank/HSBC Amanah Bank. You must have an HSBC Foreign Currency Time Deposit Account in USD or an HSBC Amanah Foreign Currency Term Deposit-i Account in USD.
The promotion is valid from 5 July 2018 until 30 September 2018. The summary of the promotion is given in the table below:
|Currency||Minimum Deposit Amount||Promotional Rate||Deposit Tenure|
|US Dollars||USD10,000||2.60% p.a.||3 months|
The promotion requires you to be an HSBC Premier Account or upgrade your account to HSBC Premier Account. Based on certain eligibility criteria, there are 2 offers available under the promotion. The minimum deposit amount is RM100,000 and the deposit tenure is 6 months. You have to place the deposit in fresh funds in a Time Deposit/Term Deposit-i.
The promotional rates for Offer A and Offer B are 4.00% p.a. and 4.28% p.a. respectively. The promotion commenced on 1 August 2018 and valid until 31 December 2018.
|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.|
Fees and Charges
|HSBC Fixed Deposit Account||Fees and Charges|
|Copy of Time Deposit Advice||RM5.30 (per copy)|
How to open a HSBC Time Deposit account?
- You can visit your nearest HSBC branch along with the required documents. A bank representative will help you to open a HSBC Time Deposit account.
- You can complete and submit the contact form available on HSBC website. A bank representative will contact you shortly to help you with your request.
HSBC Time Deposit Account Contact Number
The contact details for HSBC Time Deposit account are as follows:
- 1300 88 1388 (Local)
- +603 8321 5400 (International)
Q. What are the penalty charges if I withdraw my Fixed Deposit account before maturity date?
A. If you withdraw your Time Deposit account before completing the first 3 months, you will not earn any interest on your deposit. If you withdraw your fd after completing 3 months, then you will get 50% of the total profit earned for the completed months.
Q. What do I need to do if I want to renew my Time Deposit account?
A. Your deposited funds and interest earned will be automatically renewed once your Fixed Deposit matures. If you wish to change the terms of your FD account such as tenure or deposit amount, you need to notify HSBC before renewal.
Q. Do I need to have a savings account in Malaysia before I open a HSBC Foreign Currency Time Deposit account?
A. Yes. You must open or have a Ringgit account to open a Foreign Currency Fixed Deposit account with HSBC?
Q. Can I withdraw my HSBC Foreign Currency Time Deposit account prematurely?
A. No. You are not allowed to prematurely withdraw your Foreign Currency Fixed Deposit account. If HSBC allows premature withdrawal for any exceptional reason, you will not earn any interest on your deposit. You may also need to pay penalty charges and any loss that HSBC may incur in such a situation.
Q. What are the tenure periods that I can opt for under Foreign Currency Time Deposit account?
A. You can opt for tenures of 1, 3, 6, 9 or 12 months only. If you planning to open a FD for CNY, then you are allowed only 1-month tenure.
Other Products offered by HSBC:
Apart from offering Fixed Deposit,HSBC offers other products and services which include: