The global financial institution with a branch in India, HSBC Bank India, has changed the interest rates on term deposits under 2 crores. According to the bank’s official website, the new rates come into effect on August 25, 2022. Following the revision, the bank now guarantees an interest rate on term deposits with a term of 7 days to 60 months ranging from 2.50% to 4.00% for the general public and 3.00% to 4.50% for seniors. HSBC Bank will now offer a maximum interest rate of 6% for the general public and 6.50% for senior citizens on term deposits with maturities between 732 days and less than 36 months.

HSBC Bank India FD Rates

The bank will now offer an interest rate of 2.50% on term deposits maturing in 7 days and an interest rate of 2.60% on term deposits maturing in 8 days to 14 days . The interest rate on time deposits with a maturity between 15 and 29 days has increased to 2.85%, while the interest rate on time deposits with a maturity between 30 and 59 days rose to 3.10%. For term deposits with a maturity between 60 and 89 days, HSBC Bank India will now grant an interest rate of 3.30%, and for term deposits with a maturity between 90 and 179 days , the bank will now offer an interest rate of 3.50%.

The bank will now offer an interest rate of 3.75% on term deposits that mature in 180 days, and HSBC Bank will now offer an interest rate of 3.00% on term deposits that mature maturing in 181 to 269 days. An interest rate of 3.10% will be offered on term deposits maturing between 270 and 399 days, and an interest rate of 3.25% will be offered on term deposits maturing in 400 days . On term deposits with a maturity of between 401 days and less than 18 months, HSBC Bank India now promises an interest rate of 5.75%, while on deposits with a maturity of between 18 months and 599 days, the bank now guarantees an interest rate of 3.30%.

A new interest rate of 3.75% will be offered on term deposits maturing in 600 days, and a revised interest rate of 3.30% will be offered on term deposits maturing in 601 to 699 days. On fixed deposits maturing in 700 days, HSBC Bank India will now grant an interest rate of 3.75%, and the bank is also offering an interest rate of 3.50% on fixed deposits maturing in 701 days to 731 days. The bank now promises a maximum interest rate of 6% on term deposits with maturities between 732 days and less than 36 months, and it will grant a rate of 4.00% on term deposits whose maturity is between 732 days and less than 36 months. Maturity is between 36 months and 60 months.

Show full picture

HSBC Bank India FD Rates (hsbc.co.in)

“Fixed interest rates on deposits for residents effective Thursday, August 25, 2022,” HSBC Bank India said on its website.

HSBC Bank India offers an additional interest rate advantage of 0.50% or 50 basis points above standard rates on term deposits at all maturities. For the same, the bank mentioned on its website that “an elderly person is defined as a person over the age of 60. Senior Citizen Interest Rates only apply to Indian Residents on Domestic Fixed Deposits. In the case of joint account holders where one of the holders is a senior, please note that the interest rate on the senior term deposit will only apply if the senior is the “first holder” of said term deposit. . »

Catch all the trade news, market news, breaking news and latest updates on Live Mint. Download the Mint News app to get daily market updates.

More less

To subscribe to Mint Bulletins

* Enter a valid email

* Thank you for subscribing to our newsletter.