Rates & Fees

The Bank, on request from a depositor, would allow withdrawal of a Fixed Deposit before completion of the period of the deposit agreed upon at the time of placement of the deposit subject to penalty on premature withdrawal of Fixed Deposit as may be applicable. With effect from 1^st October 2013, Fixed Deposits will attract a penal rate of 1% on premature withdrawal for any value of fixed deposit irrespective of the date of placement.

Interest Rate for NRE/NRO/Resident Saving Accounts - 2.00% p.a. for balances up to INR10 Cr and 2.50% p.a. for balances of INR10 Cr and above, effective from 13 September 2021.

18% p.a. with effect from 01 January 2021.

With effect from 01 October 2022, the applicable Repo Linked Lending Rate (R.L.L.R.) will 5.90%.

The interest rate on your floating rate loan, if disbursed on/after 01 October 2019 is linked to HSBC's Repo Linked Lending Rate (RLLR). HSBC's Repo Linked Lending Rate (RLLR) is pegged to RBI's repo rate, rounded off to the nearest 5 bps. The interest rate in loans which are linked to RLLR will undergo re-pricing (i.e. upwards or downwards as the case may be) in line with the movement of the RLLR. Repo rate is normally reviewed by the RBI's Monetary Policy Committee at intervals of two months. In case of change in Policy Repo Rate, RLLR will be changed in the beginning of the following month (by 7th calendar day of the following month). Consequent upon any change in RLLR, the rate of interest of loans linked to RLLR will undergo a change.

A revision in the applicable Rate of Interest would typically lead to a revision in the Home Loan tenure and the EMI would remain constant, however the Bank still reserves the right to change the EMI without giving effect to the tenure of the Home Loan.

The revised loan interest rate will be notified to you by SMS, or e-mail or letter as per the Bank's prevailing policy; however SMS will be the preferred mode.

The applicable Rate of Interest rate on your loan is the RLLR plus the margin (spread). The margin charged to you will not be increased throughout the tenure of the loan, except on account of deterioration in the credit risk profile of the borrower.

Example: RLLR Linked Loan disbursed during Month 1 will be benchmarked against the RLLR of Month 1. The policy repo rate is reviewed by the RBI in the Monetary Policy Committee every 2 months. If the repo rate is changed by the RBI in month 1, the interest will be reset in Month 2 against the revised RLLR at the beginning of Month 2 (by the 7th calendar day of Month 2). If the repo rate is changed by the RBI in month 2, the interest will be reset in Month 3 against the revised RLLR at the beginning of Month 3 (by the 7th calendar day of Month 3).

The interest rate on your floating rate loan, post 1 April 2016, is linked to the published Marginal Cost of Fund based Lending Rate (MCLR). The MCLR applicable to your loan will be the 3 month MCLR published by the Bank at the beginning of the calendar quarters in January, April, July and October. This will be the benchmark rate for all the new loan disbursals during the calendar quarter. The interest rate on the loan will be reset at the beginning of these calendar quarters as per the revision in the 3 month MCLR. Any change to the 3 month MCLR will lead to a revision in Equated Monthly Instalment (EMI) or the loan tenure at the Bank's discretion. The revised loan interest rate will be notified to you quarterly by SMS, or e-mail or letter as per the Bank's prevailing policy, however SMS will be the preferred mode. Though the current benchmark rate is the 3 month MCLR, the bank reserves the right to change the benchmark rate to a different maturity of the MCLR rate, with due notice to you. The interest rate of your loan is 3 month MCLR plus the margin (spread). The margin charged to you will not be increased throughout the tenure of the loan, except on account of deterioration in the credit risk profile of the borrower. The MCLR is 6.90% p.a. effective 1 December 2021.

The interest rate on your floating rate loan, if disbursed on / after July 01, 2010 till March 31, 2016 is linked to HSBC's Base Rate. Any revision in the Base Rate would impact your interest rate. The Base Rate is 7.70% p.a. effective 1 October 2022.

The interest rate on your floating rate loan if disbursed prior to July 01, 2010 is linked to HSBC's Retail Lending Rate (RLR) and any revision in the RLR would impact your interest rate. The RLR is 14.95% p.a. effective 1 October 2022.

The Benchmark Prime Lending Rate (BPLR) is 15.50% per annum with effect from 15 May 2007.

The maximum spread above BPLR is 8%.

*Goods and Service Tax will be applicable as per prevalent rules

Charge for loss of key - ₹1000

Change in locker holder's name / nomination - ₹100

Blocking lockers as a result of an attachment by IT authorities - ₹500

Note: Non-refundable administration fee of ₹1,000 will be collected upfront. Please note that basis Goods and Services Tax (GST) regulations and notified GST rates, Central GST and State/Union Territory GST or Inter-State GST, as applicable, would apply on our fees and charges with effect from 01 July 2017.

Outstation Cheque Collection

(Charges applicable w.e.f. 1 Dec 2008 as per RBI Circular dated 8 Oct 2008) (Charges exclusive of service tax)

₹50 per instrument (upto ₹10,000)

₹INR 100 per instrument (₹10,000 - ₹1 lakh)

₹INR 150 per instrument (greater than ₹1 lakh)

Foreign currency cheque clearance: 0.56% of the value of the cheque or INR 337 whichever is higher.

Others (Issuing a cheque in a country/region where HSBC has branches) 0.35% of the value of the cheque or INR 50 whichever is higher.

Others (Issuing a cheque in a country/region where HSBC has no branches) 0.40% of the value of the cheque or INR 100 whichever is higher.

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