First-of-Month Time Deposit

* First-of-Month Time Deposit will only commence on the first business day of the subsequent month (“Start Date”) following receipt by the Bank of the duly completed instructions to place funds for First-of-Month Time Deposit and will mature on the first business day 3 months later. All instructions for First-of-Month Time Deposit have to be duly completed and received by the Bank at least two business days before the end of the month.
^# Unless written instructions to the contrary are provided.
⁺ There is a maximum fulfillment amount for First-of-Month Time Deposit placement each month. The Bank may at its discretion place funds for The First-of-Month Time Deposit on the next available Start Date, without prior notice, if the maximum fulfillment amount for First-of-Month Time Deposit placement in a month is reached.
^{^} To become an HSBC Premier customer, a minimum of S$200,000 or equivalent in deposits, investments and/or insurance is required.

Important notes

Under the provisions of the Deposit Insurance and Policy Owners’ Protection Schemes Act 2011 (the “Act”), Singapore dollar denominated deposits with The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (“HSBC”) held by a non-bank depositor (“Insured Depositor”) will be insured by the Singapore Deposit Insurance Corporation Limited or such other company as may be designated as the deposit insurance and policy owners’ protection agency for the purposes of the Act (the “Agency”), for up to S$50,000 per Insured Depositor, or such other limit as may be specified in the Act.

In addition, Singapore dollar denominated deposits:
(i) with HSBC which are held by an Insured Depositor, as trustee under a trust account, or held on trust in a client account, will be insured by the Agency for up to S$50,000 per account, or such other limit as may be specified in the Act; and
(ii) placed with HSBC by an Insured Depositor under the Central Provident Fund Investment Scheme and/or the Central Provident Fund Minimum Sum Scheme will be insured for up to S$50,000 per Insured Depositor, or such other limit as may be specified in the Act.

Premature withdrawal of any Time Deposit is subject to the Terms and Conditions Governing Personal Deposit Accounts. Effective 1 September 2011, premature withdrawal charges will be imposed on premature withdrawal of Time Deposits prior to maturity. For all premature withdrawal of Time Deposits, interest payments (if any) will be calculated at the Bank's discretion. Customers should note that they may receive an amount less than the original Time Deposit placement amount upon premature withdrawal for their Foreign Currency Time Deposits. Currently, for Singapore Dollar Time Deposits, customers will receive not less than their original placement amount upon premature withdrawal.

With effect from 1 April 2010, your liability prior to debit card loss reporting will be capped at S$100 provided that you have not acted fraudulently, negligently or failed to report the card loss immediately. Click here for more details.