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NRI Service - Charges and Fees

Service Charges and Fees

Rupee Accounts

Rupee Term Deposits

Foreign Currency Term Deposits

Remittances

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 AccountsRupee 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 DepositsRupee 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 DepositsForeign 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.

 

RemittancesRemittances

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 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.

4 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.

# 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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