Serving 40 million customers in 64 countries, HSBC is among the most extensive banking organisations globally. HSBC has been in Malaysia since 1884, and it has over 50 branches nationwide. It is also the first locally established foreign bank to be granted an Islamic banking subsidiary license in Malaysia. This played a role in establishing HSBC Amanah Malaysia Berhad.
Fixed deposit (FD) can be an excellent choice for new investors as it offers higher interest rates than regular savings accounts. The duration and return on these investments are also protected by the government, ensuring that your hard-earned money is safe from creditors!
You should know the interest rates upon maturity to ensure you gain a great amount of return. Interest rates differ from bank to bank and tenure to tenure.
Different banks offer different tenures, ranging from 1 month to a few years. Choose the one that suits your needs and financial goals.
It is crucial to identify all costs incurred to avoid spending more than expected.
You should be informed of the penalty amount to know what to expect if you need to withdraw the money before maturity.
Being aware of the customer service and the reputation of the bank you are planning to apply your fixed deposit account is an important step! Do thorough research before deciding on a bank.
HSBC offers 1 type of fixed deposit, which is HSBC Time Deposit. The Islamic equivalent is also available here.
You are eligible to apply for HSBC Time Deposit if you are:
Among other reasons, you should choose HSBC Time Deposit because:
*On the 13th month and above
Your identification card is the only document needed to apply for HSBC Time Deposit.
1 to 60 months.
To learn more about the interest rates, click here.
**As of 25 March 2022
You can contact HSBC through these channels:
Visit here and click the chat bubble on the right bottom
Click here to locate the nearest branch
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It stands for per annum or each year.
The amount of return earned by depositors.
The amount of time the money is locked in a fixed deposit account.
The amount of money locked in a fixed deposit account to earn interest.
The additional charge from the bank for withdrawals before maturity (or premature withdrawal).
The end of a set time when an investment becomes due, and the principal and interest are repaid.
The money withdrawal in a fixed deposit account before maturity.
The withdrawal of part of the amount in a fixed deposit account before maturity.