HSBC NRE FD Scheme
The Hsbc NRE tenure ranges from min 1 Year 1 Days to max 2 Year 12 Months 2 Days . The ROI ranges from 3.10% to 4.00 % for the general public. The lock-in period for this scheme is 5 Year
Hsbc NRE Scheme for amount below ₹ 2.0 Cr
The rate of interest for deposited amount less than ₹ 2.0 Cr is as below
Interest Rate for General Public (p.a.)
|1 Year 1 Days Upto 1 Year 1 Months 4 Days|
|1 Year 4 Months 14 Days Upto 1 Year 6 Months 2 Days|
|1 Year 6 Months 2 Days Upto 1 Year 7 Months 24 Days|
|1 Year 7 Months 26 Days Upto 1 Year 11 Months 4 Days|
|1 Year 11 Months 6 Days Upto 2 Year 1 Days|
|2 Year 2 Days Upto 2 Year 12 Months 2 Days|
|Upto 1 Year|
|Upto 1 Year 1 Months 5 Days|
|Upto 1 Year 7 Months 25 Days|
|Upto 1 Year 11 Months 5 Days|
|Upto 2 Year 12 Months 2 Days|
Key features of Hsbc NRE Scheme
Summary of Hsbc NRE Scheme features :
|Mutual Fund Schemes|
|Loan Against FD|
1 Year 1 Days to 2 Year 12 Months 2 Days
3.10% to 4.00 %
*Interest rates are subject to change at the discretion of the bank. These Interest rates are with effect from 10 November 2021.
What is an HSBC NRE FD Scheme?
HSBC NRE FD is a fixed deposit scheme offered by HSBC Bank India to non-resident Indians (NRIs). This scheme is designed explicitly for NRIs who want to park their foreign earnings in India, earn a higher rate of interest, and repatriate their funds back to their country of residence without any hassle.
Under the HSBC NRE FD scheme, NRIs can deposit their foreign earnings in Indian rupees for a tenure ranging from 1 year to 3 years and earn a higher interest rate than regular savings accounts. The depositor must open an HSBC NRE FD account to deposit money and secure higher returns. The interest earned on the NRE FD is tax-free in India. HSBC Bank allows depositors to easily open and manage their NRE FD account online.
Additionally, these accounts come with an automatic renewal facility.
HSBC NRE FD Interest Rate
HSBC NRE FD accounts allow investors to get higher returns on their investments. The HSBC NRE FD rates generally range from 3.25% to 7% based on the investment tenure.
Here’s what you can expect while investing in an NRE FD account with HSBC bank:
|Investment Tenure||Board rates|
|365 Days||4 per cent|
|366 - 399 Days||4 per cent|
|400 Days||3.25 per cent|
|401 Days to 18 Months||6.25 per cent|
|18 Months - 599 Days||4.1 per cent|
|600 Days||3.75 per cent|
|601 - 699 Days||3.30 per cent|
|700 Days||3.75 per cent|
|701 - 730 Days||4.25 per cent|
|731 Days||4.25 per cent|
|732 Days - 36 Months||7.5 per cent|
|36 Months||7.00 per cent|
HSBC NRE FD: Eligibility Criteria
To invest in HSBC NRE FD, an individual must adhere to the given set of eligibility criteria:
- The investor must be a non-resident Indian.
- The investor must be 18 to open an NRE FD account with HSBC Bank India.
- The investor must provide valid documents such as a passport, visa, and overseas address proof to open an NRE FD account with HSBC Bank India.
- Must comply with tax regulations
Documents Required to Open an HSBC NRE FD Account
To start their investment journey with HSBC Bank, investors must submit the below-depicted documentation:
- Recent passport-sized photographs
- Valid PAN card or Form 60, which so ever is applicable
- Copy of Passport
- Authentic Proof of investor’s NRI status, including employment visa, residence visa, or work/ residence permit
- Overseas address proof, along with Indian residence proof
- Bank account details and application form.
Key Attractions of HSBC NRE FD
- Earn interest on the accumulated NRE FD Account balance.
- Principal, as well as interest secured, are tax-free in India.
- Flexible investment tenure ranging from one to three years.
- The minimum deposit amount starts from INR 25,000.
Features & Benefits of HSBC NRE FD Account
When you open an HSBC NRE FD Account, you can expect the following features and benefits:
- Investors can withdraw the accumulated interest amount quarterly or at maturity at their convenience.
- Convert the accrued funds back to foreign currency and easy international transfer.
- Both the principal amount, as well as interest earned on the NRE FD are freely repatriable.
- You get the option to make a premature withdrawal. However, you might have to pay associated charges.
- An overdraft facility is available against the NRE deposits.
- A nomination facility is available.
- Option to open a joint FD account.
How to Apply for HSBC NRE FD?
Now investors can easily apply for HSBC NRE FD through their official website. Put forward the given step-by-step procedure to start investing in NRE FD:
- Visit the official website of the HSBC bank.
- From the topmost section, click on the ‘NRI’ section.
- Choose ‘NRE Deposit’ from the dropdown and click ‘Apply Now’.
- You will get redirected to another page containing the ‘NRI: Contact Us’ form.
- Complete and submit the form. As soon as you submit the form, the executive will get in touch with you to help with the rest of the procedure.
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What is HSBC NRE FD?
HSBC NRE FD is a fixed deposit scheme offered by the HSBC bank for Non-Resident Indians. They can invest their money in India and secure returns through this investment instrument.
Is HSBC NRE FD tax-free?
Yes, both the principal and interest amount earned on HSBC NRE FD is tax-free in India.
Is it good to invest in HSBC NRE FD?
Yes, investing in HSBC NRE FD is good, as it allows you to secure significant returns on the invested amount. The interest rate ranges from 3.25% to 7% based on the investment tenure.
What is the minimum tenure for HSBC NRE FD?
The minimum tenure to invest in HSBC NRE FD is one year.