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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 25th July 2009, the revised service charges*** applicable to HSBC accounts are as follows:
Service Charges and Fees
Rupee Accounts
| Eligibility | Service Charges |
| Minimum Average Quarterly Balance** (AQB) of INR 25,000 for NRE Savings account | AQB < 10,000 : INR 1,000 AQB = and AQB > 10,000 & < 25,000 : INR 750 |
| Minimum Average Quarterly Balance** (AQB) of INR 10,000 for NRO Savings account | INR 750 per quarter for non-maintenance of AQB |
| Minimum Average Quarterly Balance** (AQB) requirement for Non-Resident Current Account is INR 25,000 | AQB < INR 10,000 : INR 1,000 per quarter AQB = and AQB > INR 10,000 &< INR 25,000 : INR 750 per quarter |
| **Quarterly Balance has to be maintained for the previous quarter. ***Charges will be levied each month for the previous month's transactions unless specified otherwise |
|
Rupee Term Deposits
| Features / Services | Charges / Details |
| Minimum Deposit | |
| NRO | INR 25,000 |
| NRE | INR 25,000 |
| Repayment at maturity / prematurely | |
| Credit into account | Free^^ |
| Through Demand draft | Charges as applicable, if drawn on another bank |
| Through Cashier's Order | Free^^ |
| Courier Charges | Charges as applicable |
| Through Telegraphic Transfer | Free^^ |
Foreign Currency Term Deposits
| Features / Services | Details |
| Minimum balance for FCNR (B) / Resident Foreign Currency (RFC) | USD 1,000 |
| GBP 500 | |
| JPY 125,000 | |
| EUR 750 | |
| CAD 1,500 | |
| AUD 1,500 | |
| Minimum balance for Resident Foreign Currency (RFC) Domestic Current Account | USD 500 |
| GBP 400 | |
| EUR 500 | |
| Note: A charge of Rs.1,200 per quarter for non maintenance of required balance would apply for RFC Domestic Current Account. |
|
Remittances
| Eligibility | Service Charges |
| 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 | INR 50 per instrument (upto INR 10,000) INR 100 per instrument (INR 10,000 - INR 1 lakh) INR 150 per instrument (greater than INR 1 lakh) |
| 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 Conversion Fee | INR 50 (plus currently applicable service tax of 10.30% of the fee) |
| 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. | |
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 Internet Banking, 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. ^^A flat conversion fee of Rs. 50/- plus service tax, currently applicable at 10.30% of the fee, will be debited by HSBC India from the proceeds of each remittance transaction involving foreign currency conversion.
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. ^^A flat conversion fee of Rs. 50/- plus service tax, currently applicable at 10.30% of the fee, will be debited by HSBC India from the proceeds of each remittance transaction involving foreign currency conversion.
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. ^^A flat conversion fee of Rs. 50/- plus service tax, currently applicable at 10.30% of the fee, will be debited by HSBC India from the proceeds of each remittance transaction involving foreign currency conversion.
For NRIs in Canada: Remittances from Canada are free only if the funds are transferred from your CAD account with HSBC Bank Canada, to your own NR Account with HSBC India.^^ A flat conversion fee of Rs. 50/- plus service tax, currently applicable at 10.30% of the fee, will be debited by HSBC India from the proceeds of each remittance transaction involving foreign currency conversion.
#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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