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Savings Account

HSBC Savings Account

Important Information

New HSBC Savings / Current Accounts shall be offered only to customers under the Corporate Employee Program with HSBC India with effect from Tuesday 3rd Sep 2013. For customers who wish to open an account outside the Corporate Employee Program, they may do so under the HSBC Premier, HSBC Advance or the Basic Saving Bank Deposit Account variants.

Existing HSBC Savings / Current accountholders may continue to hold their HSBC Savings / Current Account. We request you to refer to the website from time to time for updated terms and conditions, eligibility criteria and schedule of charges.

Existing customers under HSBC Premier / HSBC Advance, except customers under the Corporate Employee Program with HSBC India, will not be able to reclassify their accounts to HSBC Savings / Current Account. However, HSBC India reserves the right to reclassify existing HSBC Premier / HSBC Advance accounts with a prior notice of 30 days.

Savings Account Features & Benefits

  • You can automatically transfer extra savings from your savings account to a fixed deposit, through a standing instruction++ to enable you to earn higher interest
  • You are also eligible for HSBC credit cards***
  • Transfer funds in an easy, fast and convenient manner with the Card-to-Card Transfer facility using the Visa Money Transfer Service. To know more, Click Here.
  • Keep a track of your account with Free Monthly E-statements. You will receive a mail every month to your internet banking messages inbox as well as your personal email address (provided your personal email id is registered with the Bank) informing you when your E-Statement is ready.
  • You can also collect your monthly paper statements from your branch of account by visiting your branch of account in person to collect the same
  • Monthly statements will only be available for collection in the branch for the preceding month (i.e. please visit the branch in April 2013 to collect your March 2013 statement)
  • Personalised payable-at-par chequebook
  • Manage and transact on your savings account, pay your bills and much more by taking advantage of HSBC's Personal Internet Banking

 

ATM accessATM access

Our wide network of ATMs has made banking all the more convenient for you. Withdraw cash, transfer funds, deposit cheques and cash, request for a bank statement, cheque-book or mini-statement and check your balances.

 

International debit cardInternational debit card

Your HSBC debit card is internationally valid and very handy when you are traveling abroad. Access to HSBC Group ATMs and ATMs affiliated to the Visa network and access to Visa merchant outlets worldwide.* Enjoy higher purchase transaction limits on the HSBC debit card^. The limits for resident accounts are as follows:

  • Savings Account (Resident customers): INR 40,000 per day

 

Credit cardCredit card

Get an HSBC credit card that lets you access your Savings Account at HSBC ATMs worldwide. Perform banking transactions like cash withdrawals, balance inquiries and transfer of funds**. You can also withdraw cash from your HSBC Current / Savings Account at any of our VISA / MasterCard ATMs worldwide*.

 

Revised Eligibility Criteria w.e.f. July 2011Revised Eligibility Criteria w.e.f. Jan 2014

(i) Average Monthly Balance (AMB) of INR 150,000 in a combination of savings account, current account and fixed deposit balances
OR
(ii) A Corporate Salary Account under the Corporate Employee Programme with monthly salary credits into this account1
OR
(iii)A mortgage relationship with HSBC, with equated monthly installments being debited from this account towards the mortgage loan with HSBC2

Senior Citizens are required to maintain an Average Monthly Balance (AMB) of INR 10,000 in a combination of savings account, current account and fixed deposit balances.

The Eligibility criteria for HSBC Savings / Current Account is to be maintained as per the mode of operation of the account. Customers holding multiple accounts with the Bank and maintaining separate account operating style, the eligibility criteria has to be maintained separately. For example, a customer holding two accounts in single name, the balances of which will be taken in account while calculating the AMB for HSBC Savings / Current Account. However, if the same customer maintains a joint account with signature rule of 'either or survivor' (or any other signature mandate) the eligibility criteria has to be separately maintained given that this account has a separate mode of operation.

 

Savings AccountFree passbook facility w.e.f. Aug 1st 2007

Passbooks can be collected from the nearest branch and can be updated personally with transactions up to three preceding months.

^ HSBC Debit Card application is optional. Annual fee of INR 150 (plus service tax) for each debit card, including additional debit cards will be levied

+ Debit card undertaking / Declaration is required to be signed to avail of this benefit.

++For charges related to standing instruction, please refer to Account Service charges and Fees.

* A transaction fee is applicable for withdrawals from other bank ATMs outside India. All cash withdrawals overseas must be strictly in accordance with the FEMA Regulations of the Reserve Bank of India. The aggregate expenses (i.e. through cash/traveller's cheques/your bank accounts) should not exceed the limit set by RBI, as prevailing from time to time.

International debit cards cannot be used for purchase of prohibited items e.g. lottery tickets, banned or proscribed magazines, football pools, racing/riding tickets, participation in sweepstakes, payment of call-back services etc. If in doubt please contact the Bank for clarification.

** The facility of accessing your Current/Savings Account with your credit card from HSBC will be provided only when specifically requested by you.

*** Issuance of credit card is at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India. All features and benefits are subject to Terms and Conditions.

1By virtue of meeting the 'eligibility' criteria, the employees of the corporate can open accounts under the Corporate Employee Program (CEP) offered by the Bank, and avail of a waiver on the applicable Average Monthly Balance (AMB). However, the waiver of charges related to the non-maintenance of required Average Monthly Balance (AMB) will be subject to the employee being a part of the Corporate and the account receiving salary credit for three consecutive calendar months.

2The waiver of minimum balance maintenance is available on the account being used for the servicing of the EMI towards Home Loan availed from HSBC. This waiver is valid throughout the mortgage relationship with HSBC. Pursuant to the termination of the mortgage relationship, the waiver will cease and customers will have to maintain the Average Monthly Balance (AMB) requirements of HSBC Savings Account as per the applicable rules of HSBC.

Records of transactions made prior to three months will be posted on request and charged as per existing tariff.