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More choices for you
Foreign Currency Deposits are particularly convenient if you use or are likely to need foreign currency in the future. You can plan ahead by investing in that currency now.
You can place your deposits in a major range of currencies and for tenors, from call up to 12 months, as shown below.
Attractive interest rates
Our Foreign Currency Deposits offer competitive rates on your deposit*. For term deposits, the interest earned is paid on the maturity date. Call deposits offer daily interest, which is calculated at the prevailing rate.
Our Foreign Currency Deposits also offer capital gains if exchange rates move in your favour. In addition, there is no capital gains tax in Singapore.
*Actual returns are subject to exchange rate fluctuations.
| Currency | Minimum amount# | tenor# |
| US dollar | USD25,000 | Call and term |
| Sterling | GBP25,000 | Call and term |
| Swiss franc | CHF25,000 | Term |
| Japanese yen | JPY10million | Call and term |
| Australian dollar | AUD25,000 | Call and term |
| Hong Kong dollar | HKD100,000 | Call and term |
| Canadian dollar | CAD25,000 | Term |
| New Zealand dollar | NZD25,000 | Term |
| Euro | EUR25,000 | Call and term |
| Renminbi | CNY250,000 for HSBC Advance customers CNY350,000 for HSBC Premier customers |
Term |
# Minimum amounts and tenors are subject to change at the Bank's discretion
Flexible placements, withdrawals and renewals
For your convenience, we accept deposits in many forms - cash, cheques, demand drafts, travellers' cheques and telegraphic transfers.
You can choose from a wide range of withdrawal options. When your deposit matures, we automatically renew it, together with the interest earned, at the prevailing interest rate.
Tax
If you are a non-resident, the interest you earn on your Foreign Currency Deposit is not subject to Singapore income tax or withholding tax. Foreign Currency Deposits with Asian Currency Units of approved banks in Singapore held by customers+ who neither reside nor are residents in Singapore are exempt from Singapore estate duty. And because there are no exchange controls in Singapore, your money can be easily remitted in or out of the country.
+ Refers to customers (at time of death) who neither reside nor are residents in Singapore.
(This information is provided on a best effort basis and is current at time of hosting. This information is not intended to constitute legal, tax or estate planning advise and should not be relied upon as such. Customers are advised to satisfy themselves in respect of their own legal, tax and estate planning issues by seeking professional advice.)
Global strength and convenience
As part of the HSBC group, we have a wide network of more than 9,500 offices in 79 countries and territories. We offer you global strength, stability and convenience for your money and the freedom to move your funds with ease.
Personalised service and confidentiality
Our experienced staff understand your needs. You can count on us to provide personalised and confidential service.
