Deposits for Resident Indian Individuals in Singapore with The Hongkong and Shanghai Banking Corporation Limited, Singapore

In terms of Liberalized Remittance Scheme of Reserve Bank of India (RBI), Resident Indian Individuals are permitted to make remittance for an amount not exceeding USD 200,000 per financial year for any Current or Capital Account transaction or a combination of both. Under the Liberalized Remittance Scheme, Resident Indian Individuals can also open, maintain and hold foreign currency accounts with a Bank outside of India.

To place deposits with The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch with its head office at 21 Collyer Quay #14-01 HSBC Building Singapore 049320 ("HSBC Singapore") Resident Indian Individuals can contact any branch of The Hongkong and Shanghai Banking Corporation Limited, India ("HSBC India"). The details of the scheme are mentioned below.

Disclosures regarding deposits in Singapore with HSBC Singapore

Eligibility	Individual resident in India, above the age of 16 for SGD TMD and 18 for TMD in all other currencies. No maximum age limit.
Type of Deposit	Time Deposit
Currency	Singapore Dollar - SGD US Dollar -USD Euro - EUR Sterling Pond -GBP Japanese Yen - JPY Australian Dollar - AUD Swiss Franc -CHF Canadian Dollar -CAD New Zealand Dollar- NZD Hongkong Dollar - HKD Chinese Renminbi - CNY
Tenor	Minimum 1 month for deposits in all currencies except USD. Minimum 2 weeks for USD deposits. Maximum 12 months for deposits in all currencies.
Objective	To allow Resident Individuals to keep their savings in foreign currency deposits abroad.
Maximum and Minimum amount of Remittance per person	Under the Liberalised Remittance Scheme of Reserve Bank of India (RBI), Resident Indian Individuals are permitted to make remittance for an amount not exceeding USD 200,000 per financial year for any Current or Capital Account transaction or a combination of both. Remittances by Resident individuals, for the purpose of placing Foreign currency deposit (s) with Banks outside India, have to be made under the Liberalised Remittance scheme only and therefore no separate limits for placing Foreign currency deposit (s) with Banks outside India, are available under the scheme. Minimum deposit placement amount (in respective currencies): Minimum of JPY10,000,000 to open a JPY account. Minimum of HKD100,000 to open a HKD account. Minimum of CNY250,000 to open a CNY account for HSBC Advance customers. Minimum of CNY350,000 to open a CNY account for HSBC Premier customers. Minimum of $25,000 in the respective currency to open an account for all other currencies.
Rate of Interest & Calculation of Interest	Please refer to www.hsbc.com.sg for various interest rates based on various periods and currency. Interest of time deposit is calculated based on number of calendar days within tenor of the time deposit. HSBC Singapore will pay interest on the time deposit on the maturity date or as otherwise agreed and at the rate indicated on the Advice of Time Deposit that HSBC Singapore will issue for each time deposit placed with HSBC Singapore.
Placing of Deposits	Deposits can be placed on completion of the Account Opening Form (along with a copy of valid Passport and residence proof) submitted through HSBC India Branches and after verification by HSBC India staff. Deposits will be placed with HSBC Singapore after satisfactory completion of KYC (Know Your Customer) procedures of HSBC Singapore. (The placing of deposits will be at the sole discretion of HSBC Singapore and neither HSBC Singapore nor HSBC India shall be responsible or held liable for any rejection of the application for placing deposits/ opening of deposit accounts)
Prepayment of Deposit	Withdrawals of any time deposit shall be made only upon maturity. Premature withdrawal of deposits, if allowed, shall be at the sole discretion of HSBC Singapore and on such terms as HSBC Singapore may impose, including but not limited to the levying of premature withdrawal charges. HSBC Singapore shall have no obligation but may, at its sole discretion, pay interest on time deposits prematurely withdrawn for such time periods and at such rates as the HSBC Singapore may determine, less such charges as it may impose
Other Conditions	Under the provisions of the Deposit Insurance and Policy Owners' Protection Schemes Act 2011 (the "Act"), Singapore dollar denominated deposits with The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch ("HSBC") held by a non-bank depositor ("Insured Depositor") will be insured by the Singapore Deposit Insurance Corporation Limited or such other company as may be designated as the deposit insurance and policy owners' protection agency for the purposes of the Act (the "Agency"), for up to S$50,000 per Insured Depositor, or such other limit as may be specified in the Act. In addition, Singapore dollar denominated deposits: (i) With HSBC which are held by Insured Depositor, as trustee under a trust account, or held on trust in a client account, will be insured by the Agency for up to S$50,000 per account, or such other limit as may be specified in the Act; and (ii) placed with HSBC by an Insured Depositor under the Central Provident Fund Investment Scheme and/or the Central Provident Fund Minimum Sum Scheme will be insured for up to S$50,000 per Insured Depositor, or such other limit as may be specified in the Act. The deposits will not be covered by any insurance or protection arrangements in India.
Primary Bank Supervisor authority responsible for the supervision of HSBC Singapore Head Office and branches	The Monetary Authority of Singapore

Deposit Scheme for Resident Indian Individuals will be offered at the following branches of HSBC Singapore

Head Office:
The Hong Kong and Shanghai Banking Corporation Limited
21 Collyer Quay #14-01
HSBC Building
Singapore 049320

Branches:

Claymore Claymore Plaza 6 Claymore Hill #01-01 Singapore 229571	Nassim Hill 56 Tanglin Road #01-03 Singapore 247964
Collyer Quay HSBC Building 21 Collyer Quay #01-01 Singapore 049320	Orchard Dhoby Ghaut The Atrium@Orchard 60A Orchard Road #01-02 Singapore 238890
Holland Village 263 Holland Avenue Singapore 278987	Serangoon Garden 62 Serangoon Garden Way Singapore 555958
Jurong Blk 131 Jurong East Street 13 #01-257/259 Singapore 600131	Tampines Tampines 1 10 Tampines Central 1 #B1-18 Singapore 529536
Marine Parade Parkway Parade 80 Marine Parade Road #01-92 Singapore 449269	Suntec City Suntec City Mall (Tower 4) 3 Temasek Boulevard #01-154 Singapore 038983

Risk Factors:

a. Country Risk:
Deposits would be held in Singapore and will be subjected to the rules and regulations of relevant authorities in Singapore

b. Currency Risk
The net return on the time deposit will depend on market conditions prevailing at the time of maturity, and there is risk of loss as a result of depreciation in the value of the currency paid or as a result of foreign exchange controls imposed by the country issuing the currency. Such loss may offset the net return on such time deposit and may even result in the loss of the time deposit or a part thereof.

c. Interest Rate Risk
The deposit will carry interest rate risk in event interest rates rise during the term of deposit. If deposit is placed for a particular tenor, rate of interest will not change during the tenor of that deposit. However, rate of interest for the same tenor and balance may change the next working day (as rates of interest change on a daily basis) for new placement.

Customer Contact Centre

24-hour HSBC Singapore's Premier banking hotline: 1800-227 8889 (in Singapore) or call collect to (65) 6216 9080 (from overseas).

www.hsbcpremier.com.sg

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