HSBC Bank offers a savings account interest rate of 2% per annum on balances up to ₹10 crores and 2.5% per annum on balances above ₹10 crores. These accounts provide international banking benefits, digital access, and multiple account types tailored to different customer needs. HSBC Bank savings accounts have an Average Quarterly Balance (AQB) requirement of ₹1.5 lakhs for general customers and ₹10,000 for senior citizens.
This article explains the interest rates, minimum balance rules, account types, features, and how to open an account in 2025.
HSBC provides different types of savings accounts—including regular, premier, and zero-balance (BSBDA) accounts—designed to meet the needs of salaried individuals, senior citizens, and global customers. An HSBC Bank savings account provides several services, such as a Nomination facility, domestic and overseas debit cards, and a free pass book for ease of transaction.
HSBC bank’s eligibility criteria depend on how you hold and manage different savings accounts. Since each account has different operating mandates, the eligibility criteria must be maintained separately.
Given below are all the types of HSBC Bank savings accounts:
Account Type | Key Features |
HSBC Basic Savings Account | Standard banking facilities, domestic & international debit card, AQB of ₹1,50,000 |
HSBC Premier Account | Global Premier status, TRB of ₹40 lakh or ₹3 lakh monthly salary, seamless international access |
HSBC BSBDA Account | Zero balance account, basic banking services, free chequebook, internet & phone banking |
Given below is the minimum balance requirements for HSBC Bank savings accounts:
Type of Account Holder | Minimum Average Quarterly Balance (AQB) |
General Customer (below 60) | ₹1,50,000 |
Senior Citizen (60 and above) | ₹10,000 |
HSBC BSBDA Account | ₹0 (No minimum balance required) |
HSBC Premier Account | ₹40,00,000 Total Relationship Balance (TRB) or ₹3,00,000 monthly salary account |
If a person fails to maintain the Average Quarterly Balance, they are liable to a 1% service charge on the outstanding amount.
Here is a list of features of the HSBC Bank savings account.
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.
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.
Account Type | Balance Range | Interest Rate (% p.a.) |
Savings Account (with or without cheque book) | Up to ₹10 crore | 2.00% |
Above ₹10 crore | 2.50% | |
Basic Savings Bank Deposit Account (BSBDA) | Up to ₹10 crore | 2.00% |
Above ₹10 crore | 2.50% | |
NRE/NRO Savings Account | Up to ₹10 crore | 2.00% |
Above ₹10 crore | 2.50% |
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.
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
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. Choose an account based on your financial habits and eligibility to get the most out of your savings.
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