HSBC Savings Account Interest Rate & Minimum Balance 2025

HSBC Bank savings account offers attractive interest rates and flexible options to suit various financial needs. Understanding the HSBC Bank minimum balance for a savings account is essential to maximizing benefits. With competitive rates and customer-friendly features, HSBC provides an ideal solution for managing your savings while ensuring easy access and seamless banking experiences.

Key Highlights

• Interest rate is 2% per annum on balances up to ₹10 crores and 2.5% per annum on balances above ₹10 crores.
• The Average Quarterly Balance (AQB) requirement is ₹1.5 lakhs for general customers and ₹10,000 for senior citizens.
• The penalty for non-maintenance of the minimum balance is 1% of the outstanding amount.

What is an HSBC Savings Account?

HSBC offers various savings accounts, such as regular, premier, and zero-balance (BSBDA), to cater to salaried individuals, senior citizens, and global customers. Account benefits include a nomination facility, domestic and international debit cards, and a free passbook. Eligibility criteria vary based on the type of account and its operating mandates.

Types of Savings Accounts in HSBC

Given below are all the types of HSBC Bank savings accounts:

How Much Minimum Balance is Required in HSBC Bank?

Given below is the minimum balance requirements for HSBC Bank savings accounts:

If a person fails to maintain the Average Quarterly Balance, they are liable to a 1% service charge on the outstanding amount.

Features and Benefits of HSBC Savings Account

Here is a list of features of the HSBC Bank savings account.

• Nomination facility: HSBC Bank offers a nomination facility to provide internet banking services. You must download the form, fill it out with the necessary details, and submit it at the nearest HSBC India bank branch.
• Domestic and Overseas Debit Card: HSBC is an international bank and has ATMs in various countries around the world. This provides you with an internationally working debit card, which might come in handy when you visit foreign countries.
• Streamlined Banking Services: HSBC Bank provides facilities such as cash withdrawal, funds transfer, cheque transactions, free cheque book, and viewing of bank account statements and account balances.
• Ready Reach: HSBC Bank has several branches across Asia as well as India, offering easy access to the bank and its facilities. 
• Card-to-Card Transfer facility: HSBC provides a Card-to-Card money Transfer service to its customers through its Visa Money Transfer Service.
• Automatic Fund Transmission: You can automatically transfer money from one bank account in HSBC to another via a standing instruction.

How to Open an HSBC Savings Account Online?

Opening an HSBC savings account can be done by visiting the nearest HSBC Bank Branch or by calling 1800 266 3456 and mailing them at the email ID present on the main website. Here is a step-by-step process for opening an account offline.

• Visit the nearest HSBC Bank branch and fill out the application form.
• Provide the required documents and choose the type of savings account you want to open.
• The bank representative might request a signed copy of your PAN and Aadhaar cards.
• Depending on your savings account type, the representative will ask you to deposit some money into the account if it is not a zero-balance account or does not require an initial balance.
• Once they verify your details and deposit money, your savings account will be opened.

HSBC Savings Account Interest Rate 2025

HSBC bank pays out savings account interests quarterly. If a person fails to maintain the Average Quarterly Balance, they must pay a 1% service charge on the outstanding amount.

HSBC Savings Account Interest Rate for Senior Citizens

Senior citizens or people over 60 will receive the same interest amount as a general candidate, i.e., 2% pa for AQB up to ₹10 crores and 2.5% pa for AQB above ₹10 crores. However, they receive an additional 0.5% interest on HSBC fixed deposits.

Penalty for Not Maintaining Minimum Balance in HSBC Savings Account

HSBC Bank charges a penal fee if you do not fulfil the minimum Average Quarterly Balance, ie, ₹1,50,000 for general people and ₹10,000 for senior citizens. You have to pay a 1% service charge on the outstanding amount. Here is a formula to calculate your service charge.

Required AQB - Current AQB * 1% = Penal charge/service charge

Final Word

HSBC Bank offers savings account options that cater to a range of customer needs—from zero-balance accounts like BSBDA to premium accounts with added global privileges. While the interest rates are modest, the bank's international accessibility, secure banking experience, and value-added services make it a reliable choice for both basic and premium banking customers. 

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