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.
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.
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:
(i) Maintain an Average Quarterly Balance (AQB) of INR 150,000 or more in a combination of savings account, current account and fixed deposit balances
(ii)Hold a Corporate Salary Account under the Corporate Employee Programme (CEP) with monthly salary credits into this account1
(iii)Have a mortgage relationship with HSBC, with equated monthly installments (EMI) being debited from this account towards the mortgage loan repayment with HSBC2
Senior Citizens are required to maintain an AQB of INR 10,000 in a combination of savings account, current account and fixed deposit balances. . Please note that there will be no service charge levied on senior citizen accounts in case the eligibility criteria is not met.
The Eligibility criteria for HSBC Savings or 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 mandates, the eligibility criteria has to be maintained separately.
a. If a customer holds two accounts in single name, the balances of which will be taken in account while calculating the AQB for HSBC Savings or Current Account.
b. If the same customer maintains a joint account with signing mandate of 'either or survivor' (or any other signing mandate) the eligibility criteria has to be separately maintained given that this account has a different mode of operation.
Customers need to fulfill the HSBC Savings Account AQB, failing which a quarterly Service Charge of 0.7% (plus applicable taxes) of the shortfall of the AQB will be levied for the quarters in which the eligibility criteria is not met. A notification will be sent to customers in the month immediately following the end of the quarter in case the account has had a shortfall. In the event the AQB is restored to the required level in the following quarter, there will be no charge. If there remains a shortfall, the Service Charge will be levied on the lower of the shortfalls in the two relevant quarters.
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 AQB. However, the waiver of charges related to the non-maintenance of required AQB will be subject to the employee being a part of the Corporate and the account receiving salary credits 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. On termination of the mortgage relationship, the waiver will cease and customers will have to maintain the AQB requirements of HSBC Savings Account as per the applicable terms and conditions
Passbooks can be collected from the nearest branch and can be updated personally with transactions up to three† preceding months.
Click here for HSBC Savings Account Terms and Conditions
^ 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.
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.