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NRI Service - Charges and Fees
Service Charges and Fees
Please be advised that vide Finance Act, 2009, w.e.f. February 24, 2009, service tax @10.30% ( i.e Service tax of 10% + 2% education cess on service tax amount + 1% secondary and higher secondary education cess on service tax amount) will be applicable on our fees and charges. Please click here for Service Tax details.
Fees and charges are subject to change at the sole discretion of the bank.
With effect from 1 July 2011, the revised service charges*** applicable to HSBC accounts are as follows:
Service Charges and Fees
Rupee Accounts
| Eligibility | Service Charges |
| Average Monthly Balance** (AMB) of INR 75,000 in a combination of savings account / current account and fixed deposits. | INR 350/- per month. |
| **Monthly balance has to be maintained for the previous month. ***Charges will be levied each month for the previous month's transactions unless specified otherwise |
|
Rupee Term Deposits
Foreign Currency Term Deposits
Remittances
| Eligibility | Service Charges |
| †Outward RTGS Transfers |
With effect from 01st May 2011 |
| INR 2 lakhs upto INR 5 lakhs | INR 25 per transaction†† |
| INR 5 lakh and above | INR 50 per transaction |
| †Outward NEFT Transfer | With effect from 01st May 2011 |
| Upto INR 1 lacs | INR 5 per transaction |
| Above INR 1 lacs to INR 2 lacs | INR 15 per transaction |
| Above INR 2 lacs | INR 25 per transaction†† |
| Demand Drafts / Cashier's Orders payable at par at our branches in India | |
| Up to INR 100,000 | INR 100* |
| INR 100,000 and above | 0.1% of value (Max. INR 2,500)* |
| Demand Drafts on other banks at non-branch locations | |
| Drawn on correspondent banks | 0.3% of DD value (Min. INR 100)* |
| Inter-branch transfers across HSBC accounts in India | Free |
| Traveller's Cheques (TCs) | |
| Issuing TCs for USD, GBP, EUR, AUD | 1% of value |
| TC encashment | |
| TC encashment - AQB maintained | 0.5% of value (Min. INR 50) Free for TCs purchased from HSBC Group Offices |
| TC encashment - AQB not maintained | 0.5% of value (Min. INR 100) Free for TCs purchased from HSBC Group Offices |
| Up-Country Cheque Collections within India | |
| Outstation Cheque Collection for Savings Accounts | INR 25 per instrument (upto and including INR 5,000) INR 50 per instrument (above INR 5,000 and upto and including 10,000) INR 100 per instrument (above INR 10,000 and upto and including INR 1 lacs) INR 150 per instrument (greater than INR 1 lacs) |
| Outstation Cheque Collection for Current Accounts | INR 50 per instrument (upto INR 10,000) INR 100 per instrument (INR 10,000 - INR 1 lacs) INR 150 per instrument (greater than INR 1 lacs) |
| Telegraphic Transfers (TT) and Foreign Currency Demand Drafts | |
| Local Telegraphic Transfers | 0.3% of value (Min INR 100, Max. INR 1,500) + cable charge of INR 100 |
| Foreign Currency Telegraphic Transfers (other than FCNR Accounts) | 0.3% of value (Min. INR 100, Max. INR 1,500) + cable charge of INR 200 for same currency TT and INR 400 for cross currency TT |
| Foreign Currency Demand Drafts (other than FCNR Accounts) | 0.3% of value (Min. INR 100, Max. INR 1,500) additional INR 250 for cross currency drafts |
| Issue of duplicate instrument | INR 300 + INR 1,000 as cover charges for correspondent banks |
| Cancellation | INR 200 + INR 1,000 as cover charges for correspondent banks |
| Telegraphic Transfer - Inward Processing Fee | INR 300 + Taxes (Free for HSBC Premier & NRI customers) |
| Foreign Currency Cheque Clearance | 0.56% of the value of the cheque or INR 337 whichever is higher |
| Others (Issuing a cheque in a country / location where HSBC has branches) | 0.35% of the value of the cheque or INR 50 whichever is higher |
| Others (Issuing a cheque in a country / location where HSBC has no branches) | 0.40% of the value of the cheque or INR 100 whichever is higher |
| Foreign Currency Cheques | |
| Foreign Currency Cheques sent for Collection Outside India | 0.5% of INR value + applicable Service Tax |
| * Free through Internet Banking. 25% of branch charge through
Phone Banking. † This facility requires separate registration. †† Subject to Internet Banking Limits as designated on Customer’s HSBC account. On registering for Internet Banking Service, the Customer will be provided with third party pre-designated and non designated limits. Pre-designated limits can be set upto INR 15 Lacs per customer per day and Non designated Limits can be set upto INR 15 Lacs per customer per day. Customers will have the option to increase / reduce his limits as per the maximum limits provided by the bank through his internet banking login. Customers are requested to visit nearest HSBC Branch for executing outward RTGS / NEFT transaction above INR 15 Lacs. |
|
1 For NRIs in UK: The NRI can instruct HSBC Bank plc / first direct to transfer funds from his/her GBP account with HSBC Bank plc/first direct in UK using the bill payment module available through Phone Banking and through Personal Internet Banking offered by HSBC Bank plc / first direct, to his or her account with HSBC in India(NR account) and this will be done free. HSBC Bank plc/first direct customers can also give these instructions using the direct debit form on www.hsbc.co.in or by sending a cheque drawn on the NR's account with HSBC Bank plc/first direct in UK.
2 For NRIs in UAE: Transfers from the UAE are free only if the funds are transferred from your AED account with HSBC Bank Middle East Limited to your own NR account with HSBC India.
3 For NRIs in HK: The transfers are free only if done from your HKD account with HSBC Hong Kong to your NR account with The Hongkong and Shanghai Banking Corporation Limited in India. Only transfers to an NR savings/current account can be done instantly. Also, only transfer requests submitted before 3:55 p.m. for Monday to Friday or 11:55 a.m. for Saturday ( Hong Kong time) will be processed on the same day. All transfer requests submitted afterwards will be processed on the next working day. The term 'working day' refers to a bank working day in both Hong Kong and India.
All foreign currency transactions through HSBC India are subject to Service Tax. Please Click here for details.
# As per current local regulations the permissible remittance from the balances in NRO accounts is up to USD 1 million, per financial year for all bonafide purposes. The remittances (net of applicable taxes) will be allowed to be made on production of an undertaking by the remitter and a Certificate from a Chartered Accountant in the prescribed formats.
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