HSBC Bank FD (Fixed Deposit) Calculator

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Fixed deposit is a popular means of investment and savings. Choosing the best bank requires a lot of calculations and analysis. This is where the HSBC FD interest rates calculator comes into play. The online tool allows you to calculate the bank’s interest rate on different amounts and tenures. 

Let's study the HSBC FD interest rates calculator in-depth and begin our investment journey as soon as possible. 

HSBC Bank Fixed Deposit Features

The features of HSBC Bank fixed deposit is explained below:

  • With fixed deposit accounts, HSBC Bank provides its customers competitive and higher interest rates.
  • You can book your FD or open an FD account in a few simple steps. You only need a few details to submit, such as your PAN card and Aadhaar card.
  • You can complete your KYC (Know Your Customer) process with the Video KYC facility. The Video KYC system allows you to open an FD account for any amount instantly.
  • The bank provides automatic renewal as well as interest payment options such as yearly, half-yearly, quarterly, monthly, or at maturity.
  • You can save money on taxes by opening a 5-year FD account with HSBC Bank.

What is an HSBC Bank Fix Deposit Calculator?

The HSBC FD calculator is an online AI-powered tool that helps customers calculate the interest earned and the total amount they will receive upon FD maturity. It is a simple tool in which you enter values such as the investment amount per month/year, the tenure for which you want to open a fixed deposit, and the interest rate. The HSBC Bank FD rates calculator will calculate the total investment value, interest earned, and the total amount payable upon maturity.

It allows you to compare the fixed deposit returns offered by different lenders for different tenures and calculate values for the bank’s fixed deposit amount.

How to use HSBC Bank FD Calculator?

Urban Money is an online platform that provides its customers with financial services. One such facility is the HSBC FD interest rates calculator. To use this tool, follow the instructions given below.

  • Visit the official website of Urban Money
  • Locate the ‘HSBC fixed deposit calculator’ 
  • Enter the deposit amount, payout frequency, deposit term, and interest rate.
  • Click on the ‘Calculate’ option
  • The HSBC FD calculator will display your total amount on the maturity

How Does an HSBC Bank FD Calculator Work?

The HSBC FD calculator consists of four components. The following components work together to give you the required results. 

  • Fixed Deposit Amount: The principal amount deposited at the start of the FD
  • Fixed Deposit Tenure: The time after the fixed deposit will mature
  • Payout Frequency: The payout frequency of interest. It can be monthly, quarterly or at maturity
  • Fixed Deposit Interest Rate: The interest rate at which the FD was started 

Formula to determine HSBC Bank FD Returns

Fixed deposit is a safe and promising investment tool. The formula to determine HSBC Bank fixed deposit returns is given below:

A = P (1 + r/n)^n*t

  • ‘A’ denotes the FD maturity amount
  • ‘P’ denotes the principal amount
  • ‘r’ denotes the rate of interest
  • ‘n’ denotes the number of times the interest will be compounded
  • ‘t’ denotes the deposit tenure

Benefits of using the HSBC Bank Fix Deposit Calculator

The HSBC FD calculator holds in its algorithms a number of unique features and benefits. It is a decent calculator through which depositors can get their desired results. The following benefits contribute to its attractiveness.

  • There is no need to register yourself or login to use this online calculator 
  • It allows you to compare different rates and amounts as it can be used multiple times
  • The AI-powered tool has zero room for error and quickly provides results
  • It consists of three components - fixed deposit amount, tenure and interest rate. By employing it multiple times, you can get the best amount and tenure to ensure maximum returns.
  • The accurate value given by the calculator can assist the depositor in making financial decisions
  • It is a huddle-free tool that is simple to use
  • You can create a diversified portfolio

Comparison of HSBC Bank FD with other Banks

Each bank claims to offer the best interest rates on their fixed deposit schemes. The following table compares the fixed deposit facility of HSBC Bank and other banks based on their interest rates. Follow the table below and get the bank with the best interest rates:

Bank Name For General Citizens (per annum) For Senior Citizens (per annum)
HSBC Bank From 2.85% - 6.00% From 3.35% - 6.50%
IndusInd Bank  From 2.75% - 6.5% From 3.25% - 7%
State Bank of India  From 2.90% - 5.50% From 3.40% - 6.30%
ICICI Bank  From 2.75% - 5.75% From 3.25% - 5.75%
IDBI Bank  From 2.70% - 5.75% From 3.20% - 6.50%
Kotak Mahindra Bank  From 2.50% - 5.90% From 3.00% - 6.40%
Punjab National Bank  From 3.00% - 5.60% From 3.50% - 6.10%
HDFC Bank  From 2.75% - 5.75% From 3.25% - 6.50%
Canara Bank From 2.90% - 5.75% From 2.90% - 6.25%
RBL Bank  From 3.25% - 6.65% From 3.75% - 7.15%
Axis Bank  From 2.50% - 5.75% From 2.50% - 6.50%
Bank of Baroda From 2.80% - 5.35% From 3.30% - 6.35%
IDFC First Bank  From 3.50% - 6.50% From 4.00% - 7.00%
Bank of India  From 2.85% - 5.20% From 3.35% - 5.95%
Punjab and Sind Bank  From 3.00% - 5.40% From 3.50% - 5.90%

Note: The comparison is dated February 2023.

Frequently Asked Questions (FAQs)

Which FD is better in HSBC Bank?

A customer must evaluate all the fixed deposit schemes offered by HSBC Bank and choose the one that suits them the best.

Can I take a loan against a fixed deposit in HSBC Bank?

Yes, you can take a loan against a fixed deposit in HSBC Bank.

Can I withdraw my FD before maturity in HSBC Bank?

Yes, you can withdraw your FD before maturity in HSBC Bank. However, you will be charged a penalty of 1% on the amount withdrawn prematurely by the bank.

Is HSBC Bank safe for FD?

HSBC bank works round-the-clock to ensure the safety of its customers.

How is FD maturity calculated in HSBC Bank?

The FD maturity formula is A = P (1 + r/n)^n*t. Here, ‘A’ denotes the FD maturity amount, ‘P’ denotes the principal amount, ‘r’ denotes the rate of interest, ‘n’ denotes the number of times the interest will be compounded, and ‘t’ denotes the deposit tenure.

How many years will FD double in HSBC Bank?

The tenure and the interest rate of your fixed deposit will determine the years it will take for FD to double.

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