Leading international bank, HSBC Bank has adjusted its interest rates for fixed deposits under According to the official website of 2 crore bank, the new rates are effective from September 12, 2022. HSBC Bank India has stated on its website that “Fixed deposit interest rates for resident are effective from Monday, 12 September 2022.” After the revision, the bank is now providing fixed deposits with maturities ranging from 7 days to 60 months with interest rates. 2.50% to 4.00%.
HSBC India FD Rates
The bank will now offer 2.50% interest rate on fixed deposits maturing in 7 days and 2.60% interest rate on fixed deposits maturing in 8 days to 14 days. A new interest rate of 2.85% will be offered on fixed deposits maturing in 15 to 29 days, and a new interest rate of 3.10% will be offered on fixed deposits maturing in 30 to 59 days. For fixed deposits maturing in 60 to 89 days, HSBC 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%.
On fixed deposits maturing in 180 days, the bank is now offering an interest rate of 3.75% and on fixed deposits maturing in 181 to 269 days, the bank is now promising an interest rate of 3.00%. Fixed deposits with maturities between 270 and 399 days now carry an interest rate of 3.10%, while fixed deposits with maturities of 400 days now carry an interest rate of 3.25%. HSBC Bank India will now offer an interest rate of 5.75% on fixed deposits maturing in from 401 days to less than 18 months and the bank is now promising an interest rate of 3.30% on fixed deposits maturing in 18 months to 599 days.
On fixed deposits maturing in 600 days, the bank is now offering an interest rate of 3.75% and on fixed deposits maturing in 601 to 699 days, the bank is now offering an interest rate of 3.30%. On fixed deposits maturing in 700 days, the bank is now offering an interest rate of 3.75% and on fixed deposits maturing in 701 days to 731 days, the bank is now promising an interest rate of 3.50%. Fixed deposits maturing in 732 days to less than 36 months will attract a maximum interest rate of 6.00%, while fixed deposits maturing in 36 months to 60 months will attract an interest rate of 4%.
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HSBC India mentions on its website that “A senior citizen is defined as a person who is above 60 years of age. 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.”
“With effect from October 01, 2013, a penal rate of 1% will be applicable on premature withdrawals on fixed deposits, irrespective of the amount held under fixed deposits, the date of placement or the date of premature withdrawal. The interest paid shall be at the penal rate i.e. 1% less than the rate prevailing on the date of deposit for the period for which the deposit remained with the bank or the contractual rate, whichever is lower,” HSBC Bank said on its website. Is.
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