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Fixed Deposit Account
Fixed Deposit
Guaranteed returns
If you are looking for a simple, safe and convenient way to make your money
grow, look no further. A fixed deposit account from HSBC provides you with
attractive rates and security.
We also offer flexible fixed deposits that let you enjoy the high returns of
fixed term deposits while giving you easy access to your money.
Know more
Benefits and Features
Fixed Deposit Account
- Earn higher interest than normal Savings Account
- Secured return on deposit
- Short to long term profit taking
- Automatic renewal of Fixed Deposit at the prevailing rate on the date of maturity, if customer does not call on the Bank
- Advice of deposit for automatic renewal
Flexible time frames to suit your needs
- Minimum deposit of MUR 50,000
- You can place fixed deposits with HSBC, for varying periods of time, from 1 to 48 months. Just choose whichever suits your needs
- Interest earned can be credited to the Savings and Current whilst the principal amount can continue to be re-deposited at the current interest rate and preferred time period
- Interest payment - periodical or upon maturity
- Unlike Savings and Current Accounts which allow immediate withdrawal of available funds, Fixed Deposit do not encourage immediate withdrawal or early upliftment
- If the Bank allows premature withdrawal of funds (i.e, before maturity date), appropriate penalties will apply
- You need not perform premature withdrawals as deposits can be pledged for a loan or an overdraft
Flexible Fixed Deposits
- High Returns
- Can be used as security against advance/loan. You can choose to borrow against your Fixed Deposit instead of uplifting before maturity of deposit
- Easy Access
- Automatic overdraft facility of up to 90% of your deposit - in case of emergency you do not need to break your fixed deposit prematurely and hence continue to earn interest on the entire deposit amount
- Competitive rates on your overdraft
- Interest charged only on the amount and period overdrawn
- Withdrawals by cheque, ATM card, Credit Card or over the counter
Eligibility
| Fixed Deposit Account | Flexible Fixed Deposit |
|---|---|
|
Individuals aged 18 years and above
Accounts for minors must be operated by the parent or authorised person Accounts can be opened for: individual(s) (sole or joint), society, partnership or for a company For joint accounts, a joint mandate must be completed and signed by all parties No introducer required Minimum deposit amount of MUR 50,000 |
Individuals aged 18 years and above
No existing lien on Fixed Deposit |
Documents required
| Fixed Deposit Account | Flexible Fixed Deposit |
|---|---|
|
Completed Account Opening form
Completed Signature Card Proof of identity - Identity card or passport Account Opening terms and conditions A Letter of Reference from the main overseas banks (for foreign nationals) Birth certificates (for minors) For large cash deposits, evidence of source of funds must be produced |
Lien on credit balances given by borrower/ third party
Guarantee Form (in case of guarantee from the third party) |
