+91
HSBC Bank offers different Fixed Deposit (FD) schemes to cater to the needs of different classes of people. Fixed deposit schemes offer security and higher returns as compared to regular saving schemes. Fixed deposit schemes allow people to invest money for a pre-specified period, post which the bank will pay a fixed rate for the deposit period.
Here is all that you need to know about HSBC Bank’s fixed deposit schemes
The CBDT notifies Form 12BBA, a declaration form, to be submitted by the eligible senior citizens to the specified banks to take relief from filing the ITR.
In Budget 2021, it has been proposed to exempt senior citizens from filing income tax returns if pension income and interest income are their only annual income sources. Section 194P has been newly inserted to enforce that banks deduct tax on senior citizens of more than 75 years of age who have a pension and interest income from the bank.
Highlights for 2025 Fixed Deposit Scheme of HSBC Bank
Tenure | 7 days to 5 years |
Senior Citizen Interest Rates | 3.35- 8.00% p.a. |
Public Interest Rates | 2.85-7.50% p.a. |
Highest Interest Rates for Public | 7.50% p.a. |
Highest Interest Rates for Senior Citizens | 8.00% p.a. |
Premature Withdrawal | 1% penalty |
Minimum Deposit Amount | Rs 10,000 |
The table below shows the interest rates offered for deposits less than Rs.3 crore effective from 15 July 2024.
| Deposit Tenure | Interest Rate for Regular Customers (% p.a.)* | Interest Rate for Senior Citizens (% p.a.)* |
| 7 days | 2.85 | 3.35 |
| 8 days | 2.85 | 3.35 |
| 9 days to 14 days | 3.00 | 3.50 |
| 15 days to 29 days | 3.00 | 3.50 |
| 30 days to 59 days | 3.40 | 3.90 |
| 60 days to 89 days | 3.60 | 4.10 |
| 90 days to 93 days | 3.80 | 4.30 |
| 94 days | 3.80 | 4.30 |
| 95 days to 179 days | 4.00 | 4.50 |
| 180 days | 4.50 | 5.00 |
| 181 days to 269 days | 3.25 | 3.75 |
| 270 days to 364 days | 3.70 | 4.20 |
| 365 days | 4.00 | 4.50 |
| 366 days to 399 days | 4.00 | 4.50 |
| 400 days | 3.25 | 3.75 |
| 401 days to less than 18 months | 6.25 | 6.75 |
| 18 months to 599 days | 4.10 | 4.60 |
| 600 days | 3.75 | 4.25 |
| 601 days to 699 days | 7.50 | 8.00 |
| 700 days | 3.75 | 4.25 |
| 701 days to 730 days | 4.25 | 4.75 |
| 731 days | 4.25 | 4.75 |
| 732 days to less than 36 months | 6.50 | 7.00 |
| 36 months to less than 37 months | 7.00 | 7.50 |
| 37 months to less than 48 months | 6.00 | 6.50 |
| 48 months to 60 months | 6.00 | 6.50 |
* Interest rates are subject to change from time to time.
HSBC Bank offers HSBC fixed deposit account for customers as a way to create wealth at low risk. The minimum deposit amount to open the account is Rs.10,000.
If the interest earned on your fixed deposit is more than Rs 40,000 (Rs.50,000 for senior citizens) during the financial year, the bank deducts tax at source at 10%. This rate has been reduced to 7.5% due to COVID-19 pandemic during the period from May 2020 to March 2021.
Our FD calculator page helps you predict the returns from an FD account accurately so you can make informed decisions regarding money management.
Related Articles
Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.
Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.
CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.
Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.
Cleartax is a product by Defmacro Software Pvt. Ltd.
Company PolicyTerms of use
ISO 27001
Data Center
SSL Certified Site
128-bit encryption
