HSBC Bank Accounts with No Salary Transfer Requirement

By Ruchi Gohri
  | Published: 13 September 2021

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Established in 1885, the HSBC bank is one of the leading banks in the world. The bank offers a wide range of banking products such as account opening facilities, credit cards, loans, mortgages, etc. for individual and corporate customers in the UAE.

HSBC Bank offers seven types of bank accounts in the UAE. The bank accounts include HSBC Advance Account, HSBC Savings Account, HSBC Premier Account, HSBC Personal Banking Account, HSBC Flexi Account, HSBC E-Saver Account and HSBC Term Deposit Account.

Some of these HSBC bank accounts do not have the minimum salary transfer requirement. Let us go ahead and learn about these bank accounts in detail. 

Types of HSBC Bank Accounts with No Salary Transfer Requirement

Here are the types of HSBC bank accounts in the UAE with no minimum salary transfer requirement.

HSBC E-Saver Account

HSBC E-Saver Account comes with no minimum salary requirement for the applicants. The bank account offers attractive interest rates and enables account holders to grow their savings in no time.

Features and Benefits

  • Minimum Balance Requirement: This HSBC bank account comes with no minimum balance requirement for the account holders. 
  • Online Banking: This HSBC account allows account holders to access their funds online by logging into their internet banking account. 
  • Easy Withdrawals: The bank allows account holders to easily withdraw funds from their accounts using online banking or making telegraphic transfers.
  • Debit Card and Chequebook: This HSBC bank account offers no ATM card or chequebooks for the account holders.
  • Monthly Fees: There is no monthly fee applicable for this HSBC bank account.
  • Available in AED: The applicants can open this HSBC account in AED only.
  • Competitive Interest Rates: The E-Saver account offers an attractive interest rate of up to 0.05 per cent on the savings/funds. The bank calculates interest daily and pays the same on a monthly basis.
Account Balance Interest Rates
Less than AED 100,000 0.01 per cent
AED 100,000 to AED 1 million 0.02 per cent
AED 1 million to AED 5 million 0.03 per cent
AED 5 million and above 0.05 per cent

HSBC Flexi Account

This is another HSBC bank account with no minimum salary transfer requirement. The bank account offers flexible banking options to enable account holders to easily access their funds.

Features and Benefits

  • Minimum Balance Requirement: This HSBC bank account comes with no minimum balance requirement for the account holders. 
  • Monthly Fees: There is no monthly fee applicable for this HSBC bank account.
  • Available in AED: The applicants can open this HSBC account in AED only.
  • Quick Account Opening Process: The HSBC bank account can be opened online instantly in just a few clicks. The bank delivers the welcome kit within 24 business hours.
  • Free Chequebook: The account holders can request a chequebook based on their financial requirements.
  • Free International Transfers: The HSBC bank account allows account holders to make free international transfers in Indian rupees, Egyptian pounds, Pakistani rupees, and Philippine pesos.
  • Cashback Credit Card: This HSBC bank account holders can apply for a cashback credit card and earn up to 10 per cent cashback on monthly spending.
  • Competitive Interest Rates: The Flexi account offers an attractive interest rate of up to 0.02 per cent on the account balance. The bank calculates interest daily and pays the same on a monthly basis.
Account Balance Interest Rates
Up to AED 50,000 0.01 per cent
AED 50,000 to AED 100,000 0.02 per cent

Cashback Credit Card Benefits

  • Access to Airport Lounges: The Cashback Credit Card offers 12 complimentary visits per year to more than 1,000 airport lounges.
  • Airport Transfers: The cardholders can enjoy up to 2 free airport transfers per year up to a maximum of AED 100 per ride.
  • Attractive Cashback: There is no maximum limit on the cashback earned by the cardholders. They can earn 10 per cent cashback on each spend that automatically gets credited every month.
  • Cinema Offers: The credit card offers an attractive Buy 1 Get 1 offer on movie tickets at VOX Cinemas.
  • Concierge Services: The bank offers full-time available concierge services on the credit card.
  • Travel Insurance: The credit card offers complimentary travel insurance for cardholders and their families.
  • Card Misuse Protection: Card misuse protection protects cardholders against fraudulent and unauthorised transactions.

Eligibility Criteria for Opening HSBC Bank Accounts

Here are the eligibility criteria for opening HSBC Bank Accounts.

Type of HSBC Bank Account Eligibility Criteria
HSBC E-Saver Account

All UAE nationals and residents are eligible for opening an HSBC E-Saver Account.

HSBC Flexi Account

All UAE nationals and residents are eligible for opening an HSBC Flexi Account.

Documents Required for Opening HSBC Bank Accounts

Here are the documents required for opening HSBC Bank Accounts.

Type of HSBC Bank Account Documents Required
HSBC E-Saver Account For Existing Customers:
  • If the applicant holds an account with HSBC bank, no documents are required.
For New Customers:
  • Passport of the Applicant – Original and a copy
  • Residency Visa (For the customers of non-GCC nationals)
  • Emirates ID – Original and a copy
  • UAE Residency Proof 
HSBC Flexi Account
  • Passport of the Applicant – Original and a copy
  • Residency Visa (For the customers of non-GCC nationals)
  • Emirates ID – Original and a copy
  • UAE Residency Proof 
  • Work ID or Labour Card (Female applicants can use their father’s or husband’s IDs)
  • Trading License (Self-employed applicants)
  • Salary Transfer Letter/Appointment Letter (for salaried customers)

How to Open an HSBC Bank Account in the UAE?

There are two different ways of opening HSBC bank accounts.

  • Open an Account Online: HSBC bank allows applicants to open a bank account online by logging into their online banking portal. They can simply fill out the online application form and submit it with all the essential documents.
  • Open an Account Offline: The applicants can also visit the nearest HSBC bank’s branch and apply for opening a bank account. They need to provide the required documents and fill the application form. The bank will verify all the documents and process the account opening application.
Ruchi Gohri
Ruchi Gohri61 Posts

Senior Content Writer | She has a penchant for writing and with over 5 years of experience, she plays around with words elegantly, crafting simple content for all to read. In her free time, she loves her couch either to read or catch on to her sleep.