HSBC Foreign Currency Time Deposit
Wide range of major currencies
Flexible placements, withdrawals and renewals
A simple way to invest in the currency of your choice
How HSBC Foreign Currency Time Deposit can help 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 1 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.
Our Foreign Currency Deposits also offer capital gains* if exchange rates move in your favour.
*Actual returns are subject to exchange rate fluctuations.
- US Dollar: USD25,000 minimum amount
- Sterling: GBP25,000 minimum amount
- Swiss Franc: CHF25,000 minimum amount
- Japanese Yen: JPY10million minimum amount
- Australian Dollar: AUD25,000 minimum amount
- Hong Kong Dollar: HKD100,000 minimum amount
- Canadian Dollar: CAD25,000 minimum amount
- New Zealand Dollar: NZD25,000 minimum amount
- Euro: EUR25,00 minimum amount
- Renminbi: CNY250,000 minimum amount
Flexible placements, withdrawals and renewals
For your convenience, we accept deposits in many forms - cash, cheques, demand drafts 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.
Personalised service and confidentiality
Our experienced staff understand your needs. You can count on us to provide personalised and confidential service.
Time Deposit Promotions
|Promotional USD Time Deposit||New and Existing HSBC Premier Customers1||New and Existing HSBC Advance Customers2|
|1-month||1.75% p.a.||1.70% p.a.|
|3-month||1.90% p.a.||1.85% p.a.|
|Promotional USD Time Deposit||1-month|
|New and Existing HSBC Premier Customers1||1.75% p.a.|
|New and Existing HSBC Advance Customers2||1.70% p.a.|
|Promotional USD Time Deposit||3-month|
|New and Existing HSBC Premier Customers1||1.90% p.a.|
|New and Existing HSBC Advance Customers2||1.85% p.a.|
The minimum and maximum fresh funds placement amounts for the USD TMD Promotion are USD 30,000 and USD 1,200,000 respectively. For placement amount greater than USD 1,200,000, please contact either HSBC or your Relationship Manager.
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Things you should know
Terms and Conditions
Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to SGD75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
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 Jul 2009, an administrative fee of 1.5% of the foreign currency transaction amount will be debited from your account when a transaction in foreign currency is made on your debit or ATM card.
Deposits into any renminbi (“rmb”) Deposit Account shall be by way of foreign exchange conversion from non-rmb denominated currency(ies) only, save for transfers between a rmb Time Deposit Account and a rmb Everyday Global Account opened hereunder. Withdrawals from any rmb Deposit Account shall be by way foreign exchange conversion into non-rmb denominated currency(ies) only, save for transfers between a rmb Time Deposit Account and a rmb Everyday Global Account opened hereunder. The deposit in your rmb Deposit Account shall be converted from rmb to another freely convertible currency for withdrawal, at the Bank’s prevailing exchange rate.
Renminbi is not a freely convertible currency and is subject to changes in regulations initiated by mainland China and/or the Chinese authorities. There may be a gain or loss when you convert foreign currency. Customers are advised to make their own independent judgment in consideration whether to place the rmb deposit. For customers who wish to open renminbi Time Deposit Account, please also refer to Terms and Conditions Governing renminbi Deposit Accounts.