By clicking on "Proceed" you, agreed to our Privacy Policy and Terms of use

HSBC Fixed Deposit Account

HSBC Fixed Deposit Account offers a competitive rate of interest with regards to the deposits. The rate of interest can go up to 0.74% for USD accounts while AED accounts enjoy up to 2.98%.

To apply for the Fixed Deposit in the HSBC Bank, the customer should be an existing member of the Bank. He/she should have a primary account- Savings Account or the Current Account.

Features and Benefits of HSBC Fixed Deposit Account

The features and benefits of the HSBC Fixed Deposit Account are the following:

  • Interest rates provided are competitive
  • The Account is available in the currencies of GBP, USD or AED
  • Requires low deposit as the minimum
  • Offers maximum returns
  • Banking is available 24X7 through Online Banking, Mobile Banking, Phone Banking, and SMS alerts
  • Terms are available up to 36 months

Documents Required to Open an HSBC Fixed Deposit Account

The documents required to open an HSBC Fixed Deposit Account are as follows:

  • Applicant’s passport
  • Residence visa of the Expats
  • Emirates ID of the applicant
  • Proof of residency in the UAE
  • Female applicants sponsored by their father or husband needs to provide a Labour Card or the work ID

How to Open an HSBC Fixed Deposit Account in the UAE

To open a Fixed Deposit Account with the HSBC Bank, the customers can apply through the following ways:

  • Via Phone
  • Via Online
  • By visiting the nearest branch of the HSBC Bank

How to close an HSBC Fixed Deposit Account in the UAE

To close the Fixed Deposit Account with the HSBC Bank, the customer will have to visit the nearest branch and submit a letter.

HSBC Fixed Deposit Account -FAQs

Q.1 What is the interest rate earned after maturity for the HSBC Fixed Deposit Account?

Ans: A customer can enjoy up to 3% p.a. interest rate, with regards to the term, upon maturity.

Q.2 What is the minimum deposit required for the HSBC Fixed Deposit Account?

Ans: The lowest deposit required to open an HSBC Fixed Deposit Account is AED 10,000. In terms of USD and GBP, the lowest amount required is 5000.

Q.3 What are the choices of terms available for the HSBC Fixed Deposit Account?

Ans: The available terms for the HSBC Fixed Deposit Account is between 1 month to 36 months.

Q.4 What is the highest interest for the deposits lower than AED 150,000?

Ans: The highest return interest for the deposits lower than AED 150,000 is 2.50%.

Q5. What is the highest interest for the deposits between AED 150,000 to AED 750,000?

Ans: The highest interest for the deposits between AED 150,000 to AED 750,000 is 2.70%.

Q.6 What is the highest interest for the deposits higher than AED 750,000 and above?

Ans: The highest interest for the deposits higher than AED 750,000 and above is 3%.

Q.7 What is the highest interest rate for the deposits higher than USD 5000?

Ans: The highest interest rate for the deposits higher than USD 5000 is 0.74%.

Q.8 What is the highest interest rate for the deposits lower than USD 5000?

Ans: Deposits lower than USD 5000 earn no interest rate.

Q.9 What can I provide for the address proof?

Ans: For the address proof, you can provide lease agreement, utility bill or the employment letter.

Q.10 What is the number that I can call if I have any queries?

Ans: For the fixed deposit queries, you can call 600 55 4722 if you in the UAE. If you are outside of the UAE, you will have to call +97142288007.

Q.11 Will I earn any interest on the deposit if I withdraw the account within 30 days of opening it?

Ans: no, you will not earn any interest if you withdraw the deposit within a month of opening the account.