Hong Kong and Shanghai Banking Corporation has played a huge role in the establishment of Mercantile Bank of India which founded its roots in India way back in 1853. HSBC is a multinational financial institution which is providing the customers with fixed deposit schemes of attractive returns with varying tenures.
At loanbaba.com, we will share updated information about best fixed deposit rates, FD India schemes of the bank and HSBC Bank FD rates over all tenures for fixed deposit and term deposit. You will also come to know about popular FD rates, India by the bank for 2017 and FD interest rates that are the highest.
The fixed deposits ranging from one month to nine months come under the HSBC Short-Term Fixed Deposits category. For the shortest holding period of one month, the rate of interest is calculated at 4% per annum whereas, for the holding period of two months, the returns are pegged at 5.5% per annum. Moreover, it gets further increased by 0.75% to 6.25% per annum for the tenure of three months, and it gets eventually lower to 5.4% per annum for the holding period of four months. However, the interest rate of 5.4% per annum is maintained for all deposits ranging between 4-9 months.
The fixed deposits ranging from one year to four years comes under the HSBC mid-term Fixed Deposits category. For the tenure of one year, one can avail the interest of 6% per annum, and it changes to 5.4% per annum for the tenure of 18 months. But, it gets a 1.1% raise to 6.5% for the holding period of 18 months to 2 years. The rate is changed again by 1.1% to become 5.4% for the tenure made for three years.
HSBC Bank like most of the financial institutions offers the senior citizens an extra 0.5% on their deposits. Therefore, the senior citizens can enjoy one month tenure at 4.5% per annum, and on the other hand, for the deposits made for three years, one can avail the returns at 6.5% per annum.
The return of 6.75% per annum for the tenure of three months is the rate of interest offered by the bank to the senior citizens. And if not the senior citizens, the return of 6.25% for the tenure of three months is the highest. Moreover, for a mid or long-term FD, the highest interest enjoyed is 7% for the tenure of 18 months to two years.