HSBC FD Calculator
FD Interest Rates on Domestic Deposits of less than Rs 2 crore - General Public
| Tenure | Regular Citizens |
| 7 days | 2.5 |
| 8 days | 2.6 |
| 9 to 14 days | 2.6 |
| 15 to 29 days | 2.85 |
| 30 to 59 days | 3.1 |
| 60 to 89 days | 3.3 |
| 90 to 93 days | 3.5 |
| 94 days | 3.5 |
| 95 to 179 days | 3.5 |
| 180 days | 3.75 |
| 181 to 269 days | 3 |
| 270 to 364 days | 3.1 |
| 365 days | 3.1 |
| 366 to 399 Days | 3.1 |
| 400 days | 3.25 |
| 401 days to less than 18 months | 5.75 |
| 18 months to 599 days | 3.3 |
| 600 days | 3.75 |
| 601 to 699 days | 3.3 |
| 700 days | 3.75 |
| 701 to 730 days | 3.5 |
| 731 days | 3.5 |
| 732 days to less than 36 months | 6 |
| 36 months to less than 37 months | 4 |
| 37 months to less than 48 months | 4 |
| 48 months to 60 months | 4 |
Note: The FD interest rates are effective as of 12 September 2022
FD Interest Rates on Domestic Deposits of less than Rs 2 crore - Senior Citizens
| Tenure | Senior Citizens |
| 7 days | 3 |
| 8 days | 3.1 |
| 9 to 14 days | 3.1 |
| 15 to 29 days | 3.35 |
| 30 to 59 days | 3.6 |
| 60 to 89 days | 3.8 |
| 90 to 93 days | 4 |
| 94 days | 4 |
| 95 to 179 days | 4 |
| 180 days | 4.25 |
| 181 to 269 days | 3.5 |
| 270 to 364 days | 3.6 |
| 365 days | 3.6 |
| 366 to 399 Days | 3.6 |
| 400 days | 3.75 |
| 401 days to less than 18 months | 6.25 |
| 18 months to 599 days | 3.8 |
| 600 days | 4.25 |
| 601 to 699 days | 3.8 |
| 700 days | 4.25 |
| 701 to 730 days | 4 |
| 731 days | 4 |
| 732 days to less than 36 months | 6.5 |
| 36 months to less than 37 months | 4.5 |
| 37 months to less than 48 months | 4.5 |
| 48 months to 60 months | 4.5 |
Note: The FD interest rates are effective as of 12 September 2022
NRE Fixed Deposit Interest Rates of deposits below Rs 2 crore
| Tenure | Interest Rates (% p.a.) |
| 365 days | 3.1 |
| 366 days to 399 day | 3.1 |
| 400 days | 3.25 |
| 401 days to less than 18 months | 6.25 |
| 18 months to 599 days | 3.3 |
| 600 days | 3.75 |
| 601 to 699 days | 3.3 |
| 700 days | 3.75 |
| 701 to 730 days | 3.5 |
| 731 days | 3.5 |
| 732 days to less than 36 months | 6.5 |
| 36 months | 4 |
Note: The FD interest rates are effective as of 2 September 2022
FCNR (Foreign Currency Non-Resident) Fixed Deposit Interest Rates
| Interest Rates (% p.a.) | |||||||||
| Tenure | USD | GBP | EUR | JPY | AUD | CAD | DKK | CHF | SEK |
| 1 year to less than 2 years | 2.5 | 0.8 | 0.01 | 0.01 | 0.1 | 0.1 | 0.01 | 0.01 | 0.01 |
| 2 years to less than 3 years | 1.25 | 1 | 0.01 | 0.01 | 0.1 | 0.1 | 0.01 | 0.01 | 0.01 |
| 3 years | 1.4 | 1.2 | NA | NA | NA | NA | 0.01 | 0.01 | 0.01 |
RFC Fixed Deposit Interest Rates
| Interest Rates (% p.a.) | ||||
| Tenure | USD | GBP | EURO | JPY |
| 31 days to less than 6 months | 0.1 | 0.10% | 0.10% | 0.10% |
| 6 months to less than 1 year | 0.1 | 0.10% | 0.10% | 0.10% |
| 1 year to less than 2 years | 0.1 | 0.10% | 0.10% | 0.10% |
| 2 years to less than 3 years | 0.1 | 0.10% | 0.10% | 0.10% |
| 3 years | 0.1 | 0.10% | NA | NA |
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HSBC Bank FD Calculator
Fixed deposits are one of the most reliable investment avenues for most Indian investors. This popularity is substantially backed by two major benefits – it offers guaranteed and higher returns than regular savings accounts and your savings will remain unaffected by market risks and inflation.
There are various HSBC Bank fixed deposit options at high interest rates such as domestic fixed deposits, NRE FDs, RFC and FCNR fixed deposits. In this article, you will get to know about the HSBC fixed deposit interest rates and how to use the online FD calculator conveniently.
HSBC Bank Fixed Deposit (FD) Calculator
HSBC Bank is a British multinational bank which offers an array of financial products and services to its customers. HSBC Bank fixed deposit rates vary according to the deposit tenure and amount. The maximum rate of interest applicable for general citizens is 7% whereas, the minimum rate of interest is 2.85%. Senior citizens enjoy an additional rate component of 0.50% on their fixed deposits. This is for deposits less than ₹2 crore.
To choose the best FD option, you should have an idea of the returns that the FD will bring in. It can be difficult to estimate the maturity amount through manual calculations. Therefore, you can use the HSBC FD calculator which is an easy and hassle-free tool.
How Does the HSBC FD Calculator Work?
You can either do manual calculations or use the online HSBC FD calculator to calculate the maturity amount.
Fixed deposits are generally of two types – simple interest FD and compound interest FD.
If you are calculating maturity for compound interest FD, you need to use the following formula:
A = P (1 + r/n) ^ n*t
In this formula,
“A” represents the FD maturity amount
“P” denotes your fixed deposit investment amount
“r” implies the annual HSBC fixed deposit rate of interest
“n” stands for the frequency of compounding interest
“t” represents the investment term or tenure
Let’s take an example to understand the calculation procedure precisely:
Suppose, you have started a fixed deposit investment with ₹50,000 for 5 years at an interest rate of 5% with yearly compounding.
As per the formula:
A = 50,000 (1 + 5%/1) ^ 1*5
A = ₹64,102
So, the interest amount is A – P, i.e., ₹ 64,102 – ₹50,000 = ₹14,102
In case of simple interest, this formula is used:
M= P+ (PXRXT/100)
Here, M denotes maturity amount, P stands for investment amount, T is tenure of investment and R is rate of interest.
HSBC fixed deposit calculator is a simple tool that you can use by following this step-wise guide:
1. Enter your chosen investment amount on the “Total Investment” box
2. Drag the cursor to draw a purple line until reaching the desired tenure, or enter the number of years in the box provided
3. To end with, enter the applicable interest rate and check the right side of the page
4. It will show the “Estimated Return”, and “Total Value”. Here you find the maturity amount and accrued interest.
You can modify the figures and make variations in deposit amount, interest rate and tenure to compare returns from different FD schemes at different investment amounts.
Benefits of an Online HSBC FD Calculator
Some notable benefits of the HSBC FD calculator include the following:
- It offers a simple calculation method and eliminates any risk of miscalculation.
- The HSBC fixed deposit interest rate varies as per the investment amount and tenure. You can make various alterations in the investment details to compare returns for different investment terms and select an appropriate one.
- You can plan and manage your finances in a hassle-free way with this free online tool.
- This tool is free to use and you can use it any time anywhere.
- You don’t have to share any personal details or sign up.
Upstox HSBC bank fixed deposit calculator helps determine the interest and maturity amount of your fixed deposit investments seamlessly. Also, it offers a user-friendly interface which enhances user experience. You can conveniently use this tool to choose a suitable HSBC Bank fixed deposit.
Frequently Asked Questions
What is the highest interest rate on HSBC FD?
The highest interest rate on HSBC FD for general citizens can go up to 7% and for senior citizens, this rate can be a maximum of 7.50%. This is for investment amount of ₹2 crore.
What is the minimum amount of investment for FDs at HSBC Bank?
The minimum amount of investment for FDs under HSBC in ₹10,000.
Do we have a premature withdrawal facility on HSBC Bank FD?
Yes, you can make a partial or complete premature withdrawal on HSBC FD at the applicable penal interest rate.
What is the penalty for early withdrawal in HSBC FD?
HSBC Bank levies a 1% penal interest rate above the applicable rate of interest on premature withdrawal of FD.
In how many years has FD doubled in the HSBC Bank?
You need to use the rule of 72 to easily figure out how many years it will take for FDs to double in HSBC. You only need to divide 72 by the interest rate levied on your FD. Let’s understand how this works with the help of this easy example:
Suppose, your bank provides a 7% interest rate on your FD, annually. Then, it will take (72/7) 10. 28 years for your FD to double.
Can I deposit an extra amount into an already existing FD?
No, you cannot deposit any extra amount into an already running FD. You need to open another FD.
Does HSBC provide an auto-renewal facility for fixed deposits?
Yes, HSBC sets an automatic renewal facility by default on FDs unless a customer mentions otherwise in the application form.
Are there any special rates for senior citizens?
Yes, HSBC offers an additional 0.50% interest rate over and above the general interest rate. This is only applicable to resident Indians investing in domestic FDs.
What is the lock-in period for Tax Saving FD Scheme?
The lock-in period for tax-saving FD schemes is ideally 5 years. During these 5 years, you cannot avail of loan against FD or make a premature withdrawal.
Disclaimer:
This calculator is meant to be used for indicative purposes only. It is designed to assist you in determining the appropriate amount of prospective investments. This calculator alone is not sufficient and shouldn’t be used for the development or implementation of any investment strategy. Upstox does not take the responsibility/liability nor does it undertake the authenticity of the figures calculated therein. Upstox makes no warranty about the accuracy of the calculators/reckoners. The examples do not claim to represent the performance of any security or investments. In view of the individual nature of tax consequences, each investor is advised to consult his/her own professional tax advisor before making any investment decisions on the basis of the results provided through the use of this calculator.