HSBC bank

HSBC is among the world’s largest banking and financial service organizations. It serves the customers through varied businesses as retail banking and wealth management, commercial banking, global private banking and global banking and markets.

History of HSBC Bank

• HSBC is operational in over 130 countries and serves over 39 million customers.
• The origin of HSBC bank dates back to 1853 when The Mercantile Bank of India was founded in Mumbai.
• In the next two years, it opened its offices in Chennai, Colombo, Kandy, Kolkata and many other cities across the world.
• HSBC has been an important bank in India and the first ATM in India was opened up by HSBC in 1987.

Services offered by HSBC Bank

HSBC Bank offers a range of services to its clients. These include:

Banking: The bank offers a range of Credits cards to its customers. Users can also open a range of accounts in the bank including savings account, fixed deposit and Demat account

Borrowing: A range of loans including home and personal loans are also available for the account holders.

Investment: Retail investment scheme, mutual fund, life and health insurance services are also available for the account holders in HSBC.

NRI Accounts: Different categories of NRI accounts including NRE, NRO, NRE, FCRN and RFC deposits are available. A range of remittances are also offered to NRI account holders.

Online Banking: A range of online banking options including net banking, mobile banking and bill payment services are offered by HSBC bank to their customers.

Interest rates offered by HSBC Bank

HSBC bank in India offers an interest rate of 3.5% for NRE/NRO and resident savings accounts.

Fixed Deposit Interest Rates:

HSBC Bank offers nomination facility to family members and spouse who might have been nominated to receive the amount. The bank also offers overdraft facility to its customers. Customers can also get the loan on up to 90% of the fixed deposit amount. A key additive of opening a fixed deposit account in HSBC bank is that the band does not charge any penalty for pre-closure of the fixed deposit account. In addition, the senior citizens are always offered a 0.5% higher interest rate than the regular customers. In addition, HSBC bank also offers a range of mutual fund options for its customers and all of these are managed by professional fund managers thus minimizing the risk of any potential loss.