HSBC Bank

Features and Benefits of HSBC Bank

HSBC is one of the oldest banks in India and provides a wide range of products and services. Plus, it has 150 ATMs in India. Besides these, the bank is packed with features and benefits. Some of them are as follows:

• It is one of the oldest and largest MNBs (multinational banks), in India, since 1853. 
• In-house Regulatory Reporting interacts with the Central Bank to counsel clients and facilitate multiple transactions. 
• Decentralised on-the-ground Corporate Relationship teams in eight cities with product specialists for trade, treasury, cash management, and factoring to support customers onsite. 
• Peers receive preferential lending rates.
• The facility of in-house statutory payments with the potential to process a diverse range of payments via an online platform comprising Direct Tax, Provident Fund, and Customs Duty; the statutory payments/compliance under GST is mandatory to be performed at the state level. 
• The bank offers long-term funding that has the potential to structure facility maturities in line with CAPEX and cash flow requirements offering maturity matching. 
• Constant supply of foreign currency.

HSBC Bank: An Overview

HSBC Bank is a UK-based financial services provider with its headquarters in London, United Kingdom. It was founded in 1853 as the Mercantile Bank of India, London and China. HSBC Bank is a foreign bank regulated by the RBI (Reserve Bank of India) under the Banking Regulation Act of 1949. 

HSBC stands for Hong Kong and Shanghai Banking Corporation. The prime motive behind its establishment was to fund the trade between India, China, and Europe. The bank has been operational since its inception and has helped the Indian banking sector to evolve. The first ATM of HSBC Bank was set up in 1987 in India. 

The bank specialises in Retail Banking and Wealth Management, Global Banking and Markets, and Commerical Banking. The bank has 50 branches across different states in India.

Products & Services Offered by HSBC Bank

HSBC offers a host of products and services. The most popular ones are as follows:

HSBC Cashback Credit Card

HSBC Credit Card comes with a lot of Cashback and reward points. The card is enabled with VISA Paywave technology to make contactless payments. HSBC credit card is globally accepted and offers unlimited cashback on every transaction. 

Moreover, there is no joining fee. Also, if you spend more than ₹1,00,000 in a year, the bank will reverse your annual membership fee of ₹ 750. 

HSBC Savings Account

Savings Account is the most common form of banking service people often use to keep their money safe and secure. You can transfer your extra savings automatically from your savings account to a fixed deposit account. 

The following are the attributes of the HSBC Savings Account:

• Transfer funds quickly with the Visa Money Transfer Service using the Card-to-Card Transfer facility. 
• Monthly paper statements available.
• You can monitor your account with free monthly e-statements.
• Personalised payable-at-par chequebook.
• You can use a Personal Internet Banking service to pay your bills.

HSBC Fixed Deposits

It is one of the most prevalent banking services HSBC Bank offers to help its customers meet their financial goals. The bank allows you to open a HSBC fixed deposit account online in just a few clicks and with ₹ 10,000 only. This savings scheme has flexible tenure, and interest rates differ based on the same. 

HSBC Demat Account

Demat Account by HSBC lets you handle your securities portfolio at your comfort. A Demat Account allows you to purchase, sell and hold shares of companies digitally. Moreover, you receive holding statements on a yearly basis and transaction statements on a monthly basis.  

If you are an NRI (Non-Resident Indian) customer, the bank allows you to dematerialise your portfolio shares in India. Other features of the HSBC Demat Account include:

• Quick transfers
• No risk of theft, loss, or mutilation of shares
• All the basic services of Demat Account are accessible
• There won’t be any risk of forgeries, bad deliveries, and duplicate share certificates. 

Home Loans

You can also avail HSBC home loan services with a competitive interest rate starting at 8.35% per annum. Other features include

• Zero processing fees
• Up to 0.3% credit of the loan amount
• Top-up of up to 0.3% credit of the loan amount

Personal Loan

Avail of HSBC personal loan at an attractive interest rate starting from 9.75% with a flexible loan tenure of up to 5 years. 

Investments

The bank also offers various investment products to meet financial goals. The services offered are as follows:

• Mutual Fund
• Wealth Insight
• Systematic Investment Plan
• Life Insurance
• General Insurance
• Health Insurance
• Financial Wellbeing

Non-Resident Indian (NRI) Services

NRIs can avail of Forex services, open various accounts, invest in mutual funds, transfer money globally, and more.