HSBC Bank India, a global financial institution with a branch in India, has revised interest rates on fixed deposits as follows: 2 crores. According to the bank’s official website, the new rates will be effective from August 25, 2022. After the revision, the bank is now offering guaranteed interest rate on fixed deposits maturing in 7 days to 60 months which ranges from 2.50% to 4.00%. 3.00% to 4.50% for general public and senior citizens. HSBC Bank will now offer a maximum interest rate of 6% for general public and 6.50% for senior citizens on fixed deposits maturing in less than 36 months in 732 days.
HSBC Bank India FD Rates
The bank will now offer an interest rate of 2.50% on fixed deposits maturing in 7 days and 2.60% on fixed deposits maturing in 8 days to 14 days. The interest rate on fixed deposits with maturities between 15 and 29 days has increased to 2.85%, while on fixed deposits with maturities between 30 and 59 days, the interest rate has increased to 3.10%. For fixed deposits maturing in 60 to 89 days, HSBC Bank India will now offer an interest rate of 3.30%, and for fixed deposits maturing in 90 to 179 days, the bank will now offer an interest rate of 3.50%.
The bank will now offer an interest rate of 3.75% on fixed deposits maturing in 180 days, and HSBC Bank will now offer an interest rate of 3.00% on fixed deposits maturing in 181 to 269 days. 3.10% interest rate will be offered on fixed deposits maturing in 270 to 399 days, and 3.25% interest rate will be offered on fixed deposits maturing in 400 days. On fixed deposits maturing in 401 days to less than 18 months, HSBC Bank India is now promising an interest rate of 5.75%, while on deposits maturing in 18 months to 599 days, the bank now offers an interest rate of 3.30% Guaranteed rate.
A new interest rate of 3.75% will be offered on fixed deposits maturing in 600 days, and a revised interest rate of 3.30% will be offered on fixed deposits maturing in 601 to 699 days. On fixed deposits maturing in 700 days, HSBC Bank India will now offer an interest rate of 3.75%, and the bank is also offering an interest rate of 3.50% on fixed deposits maturing in 701 days to 731 days. The bank now promises a maximum interest rate of 6% on fixed deposits with maturities of 732 days and less than 36 months, and it will offer a rate of 4.00% on fixed deposits maturing between 36 months and 60 months.
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“The fixed deposit interest rates for residents are effective from Thursday, 25 August 2022,” HSBC Bank India said on its website.
HSBC Bank India offers an additional interest rate benefit of 0.50% or 50 bps over standard rates on fixed deposits for all tenors. For the same, the bank has mentioned on its website that “A senior citizen is defined as a person above the age of 60 years. Senior citizens interest rates are applicable to resident Indians only on domestic fixed deposits. In case of joint account holders where one of the account holders is a senior citizen, please note that the senior citizen fixed deposit interest rate will be applicable only if the senior citizen is the ‘first holder’ on the said fixed deposit.”
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