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HSBC Multi Currency Savings Account Bonus Interest Promotion Terms and Conditions
| 1. | This Promotion is valid from 1 September 2010 to 28 February 2011, both dates inclusive or such other date(s) as may be determined by HSBC in its sole discretion ("Promotional Period"). | ||||||
| 2. | The "Qualifying Period" (referred to below) for this Promotion comprises the following: (i) 1 September 2010 to 31 October 2010 ("Qualifying Period 1") (ii) 1 December 2010 to 31 December 2010 ("Qualifying Period 2") |
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| 3. | Only the HSBC Multi Currency Savings Account is eligible for this Promotion ("Eligible Account"). | ||||||
| 4. | This Promotion is exclusive for HSBC Premier and Advance customers ("Customers") only. | ||||||
| 5. | Each Customer who fulfills the following criteria will be eligible for this Promotion ("Eligible Customer"): (i) tops up his/her Eligible Account with at least additional S$25,000 (or its equivalent in respective currencies) in fresh funds (compared against ADB (as defined below) in Reference Month (as defined below)) during the Qualifying Period and maintain the same for at least 1 calendar day within the Qualifying Period. Transfers from existing HSBC bank deposit accounts or via HSBC cheque(s), cashier's order(s) or demand draft(s) are not permitted; and (ii) in respect of any and all HSBC current and savings account(s) (including without limitation, Passbook Savings, Statement Savings, Premier and PowerVantage accounts) held by the Customer (each, an "Account"), maintain an aggregate ADB (as defined below) per calendar month during the Promotional Period ("Relevant Month") for all such Accounts which shall not be less than the ADB for the Reference Month (as defined below) for all such Accounts. For the avoidance of doubt, where the Eligible Account is an account in the Customer's sole name, each Account shall refer to the corresponding account in the Customer's sole name; and where the Eligible Account is an account in the joint names of two or more Customers, each Account shall refer to the corresponding account in the joint names of the same Customers. |
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| 6. | For each Relevant Month, Eligible Customers will earn additional interest ("Bonus Interest") on the Top-up Amount (as defined below) at 0.50% p.a. ("Bonus Interest Rate"), subject to a minimum Top-up Amount of S$25,000 (or its equivalent in respective currencies). For the avoidance of doubt, no Bonus Interest will be payable on the Top-up Amount after the Promotional Period. | ||||||
| 7. | Bonus Interest will be non-accrued, non-compounded, simple interest and shall be paid separately from the prevailing interest (if any) payable on the credit balance in the Eligible Account. | ||||||
| 8. | Prevailing interest (if any) on the Eligible Account will be computed daily and paid out monthly into the Eligible Account. | ||||||
| 9. | Bonus Interest will be credited into the Eligible Account in 1 lump sum in SGD by the next month following the Relevant Month. | ||||||
| 10. | Any Top-up Amount or ADB in foreign currency(ies) will be converted to Singapore dollar ("SGD") at the Bank's prevailing foreign exchange conversion rates for purposes of Top-up Amount or ADB (as the case may be) computation. Bonus Interest payable will be denominated in SGD at the Bank's prevailing foreign exchange conversion rate on date of crediting. | ||||||
| 11. | Foreign currency deposits are subject to foreign exchange fluctuations which may affect the principal sum of your deposit. There may be a gain or loss when conversion of foreign currency is involved. Customers are advised to make independent judgment with respect to any matter contained herein. | ||||||
| 12. | This Promotion is not valid with other offers or promotions unless otherwise stated. Only personal/individual accounts are eligible for the Promotion and terms and conditions governing personal deposit accounts will apply. | ||||||
| 13. | Bonus Interest Rate is subject to change. For HSBC Premier customers, please visit any of our HSBC Premier Centres or contact us at 1800 - 227 8889 (or call-collect at +65 6216 9080 if you are overseas ) for the latest Bonus Interest Rate. For HSBC Advance customers, please visit any of our branches or contact us at 1800 - 227 8886 (or call-collect at +65 62278886 if you are overseas). | ||||||
| 14. | HSBC may, at its discretion, vary, delete or add to any of these Terms and Conditions, including but not limited to varying the Promotional Period and/or Qualifying Period for this Promotion or withdraw this Promotion at any time without notice or assuming any liability to any customers. HSBC's decision shall be final for any dispute arising under this Promotion." | ||||||
| 15. | On 16 October 2008, it was announced that the Singapore Government will offer protection under a guarantee of up to S$150 billion for all Singapore dollar and foreign currency deposits of individuals and non-bank customers in banks, finance companies and merchant banks licensed by the Monetary Authority of Singapore. This guarantee will remain in place until 31 December 2010. Media reports have stated that the Singapore Government guarantee does not cover structured deposits and pledged deposits. Accordingly, dual currency investments, structured deposits and deposits which are pledged, charged or secured as collateral are not covered by this guarantee. | ||||||
| 16. | Under the provisions of the Deposit Insurance Act 2005 (the "Act"), Singapore dollar denominated deposits with HSBC held by individual depositors or charities will be insured by the Singapore Deposit Insurance Corporation Limited for up to the limit specified in the Act. | ||||||
Definitions "Top-up Amount" means the incremental ADB in the Eligible Account for the relevant calendar month compared against the ADB for the Reference Month of the Eligible Account. "Reference Month" means (whether in relation to an Eligible Account or an Account) August 2010. "Average Daily Balance" or "ADB" is the sum of the day-end balances (whether in relation to an Eligible Account or an Account) for a calendar month divided by the number of days in that calendar month. For Customers who open new Eligible Account(s) during the Qualifying Period, ADB for the Reference Month of such Eligible Account(s) is S$0. As an illustration using August 2010,
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