What is the minimum deposit for an HSBC Term Deposit?

AED 10,000 for a dirham deposit. Deposits in US dollars or pounds start at 5,000 in that currency.

Can I withdraw my HSBC Term Deposit before it matures?

Yes, but you lose interest. A withdrawal in the first 30 calendar days earns no interest. Later, you earn interest up to the withdrawal date at the booking-day rate for the term you completed, less one percentage point, and never below zero.

How do the promotional rates for new funds work?

They apply only to money that is new to HSBC. HSBC measures how much your total banking balance, leaving out investments and borrowings, has grown compared with 7 days ago and with 30 days ago, and uses the lower figure. Your balance today must be higher than both. Any amount above the eligible figure can go into a separate deposit at the standard rate.

When is the interest paid?

At maturity. Interest is calculated daily at the rate fixed when you booked, and it is paid when the term ends.

Do I need an HSBC account to open a Term Deposit?

Yes. Term deposits are only open to existing HSBC UAE customers aged 18 or over. You must hold an active HSBC current or savings account for the full duration of the deposit, and on a joint deposit every holder needs one.

Can I add money to a Term Deposit after opening it?

No. No additional funds can be added once the deposit has been opened. You can open another Term Deposit instead.

How do I open an HSBC Term Deposit?

You can open an AED deposit in online banking. For promotional rates, or for a deposit in USD or GBP, apply in the HSBC UAE app. HSBC also opens term deposits by phone and at its branches.

HSBC Term Deposit

HSBC Term Deposit fixes your rate for 1 to 36 months on AED 10,000 or more. Interest is paid at maturity, with promotional rates for new funds.

Open account

An existing account with HSBC is required, such as HSBC Personal Banking Account.

At a glance

Key facts

Minimum DepositAED 10,000

Tenures1–36 months

Interest PayoutAt maturity

See balance requirements

Account access

An existing account with the bank is required.

You can apply while your UAE residency is being processed.

Submit your Emirates ID within 75 days.

See opening steps

An HSBC Term Deposit is savings with a lock. You place a lump sum for a fixed term of your choice, from 1 month to 36 months, and HSBC fixes the interest rate for that whole term. The day the term ends is called maturity, and that is when you receive your money and the interest. You cannot add to a deposit after it starts, but you can open more than one. You need to be an HSBC UAE customer already, with a current or savings account such as the HSBC Personal Banking Account, and you must keep that account for as long as the deposit runs. The minimum is AED 10,000. Deposits can also be placed in US dollars or pounds.

Who can open it

Minimum age

18 years

Fees and balance

Minimum deposit

AED 10,000

Interest

Interest is paid at maturity.

Available deposit tenures

Early withdrawal within the first 30 calendar days earns no interest. Later early withdrawal uses the historical booking rate for the completed tenor minus 1 percentage point, with a zero floor. Promotional rates are lost on early withdrawal; the applicable booking-date board rate minus 1 percentage point applies.

Tenure	Deposit below AED 150,000	Deposit from AED 150,000 to below AED 500,000	Deposit from AED 500,000 to below AED 1 million	Deposit from AED 1 million	Promotional AED rate for new funds
1 month	2.48%	2.53%	2.58%	2.63%	–
2 months	2.48%	2.53%	2.58%	2.63%	–
3 months	2.73%	2.78%	2.83%	2.88%	4%
4 months	2.53%	2.58%	2.63%	2.68%	–
6 months	2.53%	2.58%	2.63%	2.68%	4.2%
9 months	2.53%	2.58%	2.63%	2.68%	–
12 months	2.58%	2.63%	2.68%	2.73%	4.25%
13 months	2.33%	2.38%	2.43%	2.48%	–
18 months	2.33%	2.38%	2.43%	2.48%	–
24 months	2.33%	2.38%	2.43%	2.48%	–
36 months	2.33%	2.38%	2.43%	2.48%	–

Tenure	Deposit below AED 150,000	Deposit from AED 150,000 to below AED 500,000	Deposit from AED 500,000 to below AED 1 million	Deposit from AED 1 million	Promotional AED rate for new funds
1 month	2.48%	2.53%	2.58%	2.63%	–
2 months	2.48%	2.53%	2.58%	2.63%	–
3 months	2.73%	2.78%	2.83%	2.88%	4%
4 months	2.53%	2.58%	2.63%	2.68%	–
6 months	2.53%	2.58%	2.63%	2.68%	4.2%
9 months	2.53%	2.58%	2.63%	2.68%	–
12 months	2.58%	2.63%	2.68%	2.73%	4.25%
13 months	2.33%	2.38%	2.43%	2.48%	–
18 months	2.33%	2.38%	2.43%	2.48%	–
24 months	2.33%	2.38%	2.43%	2.48%	–
36 months	2.33%	2.38%	2.43%	2.48%	–

1 month

Deposit below AED 150,0002.48%

Deposit from AED 150,000 to below AED 500,0002.53%

Deposit from AED 500,000 to below AED 1 million2.58%

Deposit from AED 1 million2.63%

2 months

Deposit below AED 150,0002.48%

Deposit from AED 150,000 to below AED 500,0002.53%

Deposit from AED 500,000 to below AED 1 million2.58%

Deposit from AED 1 million2.63%

3 months

Deposit below AED 150,0002.73%

Deposit from AED 150,000 to below AED 500,0002.78%

Deposit from AED 500,000 to below AED 1 million2.83%

Deposit from AED 1 million2.88%

Promotional AED rate for new funds4%

Promotional AED rate for new funds: the lower increase in total banking balances, excluding investments and borrowings, over 7 days ago and 30 days ago. The current balance must exceed both reference balances.

In plain words

Annual rate: The rate is quoted for a full year. Money held for part of a year earns the matching part of it. More on this
Tenure: The length of time you agree to leave the deposit in place. You choose it when you open the deposit, and the rate you get depends on the tenure you pick. More on this
Paid at maturity: Maturity is the day the term you chose ends. The interest is paid then, together with the amount you deposited. More on this

What your money earns here

Deposit amount

Tenure

36 months

Deposit below AED 150,000. Early withdrawal within the first 30 calendar days earns no interest. Later early withdrawal uses the historical booking rate for the completed tenor minus 1 percentage point, with a zero floor. Promotional rates are lost on early withdrawal; the applicable booking-date board rate minus 1 percentage point applies.

The amount and the rate stay the same for the whole period, and the interest is paid out, not added to the balance. Try other rates

AED 699

interest over 3 years

2.33%

a year

interest earned over time

Your rate depends on the term, the amount and whether the money is new to HSBC. Larger deposits earn more, in steps at AED 150,000, AED 500,000 and AED 1 million. Promotional rates apply only to new funds. HSBC compares your total banking balance today with the balance 7 days ago and 30 days ago. The smaller of the two increases is the amount that can earn the promotional rate.

Benefits

AED, USD and GBP Deposits

Open a deposit in dirhams from AED 10,000, or in US dollars or pounds from 5,000.

Automatic Rollover at Maturity

Renew the deposit for the same term at maturity, with or without the interest earned.

How to open

Before you apply

1.An existing account with the bank is required.

2.You can apply while your UAE residency is being processed.

3.Submit your Emirates ID within 75 days.

4.Minimum deposit: AED 10,000.

Application steps

1.Hold an HSBC UAE current or savings account. Term deposits are for existing customers aged 18 or over.

2.Open an AED deposit in online banking, or use the HSBC UAE app for promotional rates and for USD or GBP deposits.

3.Choose the amount, from AED 10,000, and a term from 1 to 36 months.

4.Decide whether the deposit should roll over automatically at maturity, with or without the interest.

5.Keep your current or savings account open until the deposit matures.

Documents and terms

HSBC UAE Term Deposit Account

Opens in a new tab

HSBC UAE Schedule of Services and Tariffs

Opens in a new tab

HSBC Personal Banking General Terms and Conditions (new customers on or after 27 June 2023)

Opens in a new tab

HSBC UAE Key Facts Statement – Term Deposit Account

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Good to know

Good option for

You already bank with HSBC, have AED 10,000 or more that you will not need until a known date, and want the rate fixed in advance. The rates are highest when the money is new to HSBC.

Consider another account if

You might need the money early, since a withdrawal in the first 30 days earns nothing, or you want to keep adding to the same pot. The HSBC E-Saver takes top-ups at any time.

If you break the deposit early

You can withdraw before maturity, but it costs interest. In the first 30 calendar days you get your deposit back with no interest. After that, HSBC pays interest only up to the day you withdraw. It takes the rate that was on offer on your booking day for the term you actually completed, and subtracts one percentage point. If the result is below zero, you receive the deposit amount only. A promotional rate is lost on early withdrawal, and the standard rate from your booking day, less one percentage point, is used instead.

When the deposit matures

You can set up automatic rollover when you book. The deposit then renews for the same term at the rate HSBC offers on the renewal day, either with the interest added or with the deposit amount alone. Without rollover, you receive your funds on the maturity date.

Frequently asked questions

Get answers to common questions about the HSBC Term Deposit

Interest

Interest is paid at maturity.

Available deposit tenures

Tenure	Deposit below AED 150,000	Deposit from AED 150,000 to below AED 500,000	Deposit from AED 500,000 to below AED 1 million	Deposit from AED 1 million	Promotional AED rate for new funds
1 month	2.48%	2.53%	2.58%	2.63%	–
2 months	2.48%	2.53%	2.58%	2.63%	–
3 months	2.73%	2.78%	2.83%	2.88%	4%
4 months	2.53%	2.58%	2.63%	2.68%	–
6 months	2.53%	2.58%	2.63%	2.68%	4.2%
9 months	2.53%	2.58%	2.63%	2.68%	–
12 months	2.58%	2.63%	2.68%	2.73%	4.25%
13 months	2.33%	2.38%	2.43%	2.48%	–
18 months	2.33%	2.38%	2.43%	2.48%	–
24 months	2.33%	2.38%	2.43%	2.48%	–
36 months	2.33%	2.38%	2.43%	2.48%	–

Tenure	Deposit below AED 150,000	Deposit from AED 150,000 to below AED 500,000	Deposit from AED 500,000 to below AED 1 million	Deposit from AED 1 million	Promotional AED rate for new funds
1 month	2.48%	2.53%	2.58%	2.63%	–
2 months	2.48%	2.53%	2.58%	2.63%	–
3 months	2.73%	2.78%	2.83%	2.88%	4%
4 months	2.53%	2.58%	2.63%	2.68%	–
6 months	2.53%	2.58%	2.63%	2.68%	4.2%
9 months	2.53%	2.58%	2.63%	2.68%	–
12 months	2.58%	2.63%	2.68%	2.73%	4.25%
13 months	2.33%	2.38%	2.43%	2.48%	–
18 months	2.33%	2.38%	2.43%	2.48%	–
24 months	2.33%	2.38%	2.43%	2.48%	–
36 months	2.33%	2.38%	2.43%	2.48%	–

1 month

Deposit below AED 150,0002.48%

Deposit from AED 150,000 to below AED 500,0002.53%

Deposit from AED 500,000 to below AED 1 million2.58%

Deposit from AED 1 million2.63%

2 months

Deposit below AED 150,0002.48%

Deposit from AED 150,000 to below AED 500,0002.53%

Deposit from AED 500,000 to below AED 1 million2.58%

Deposit from AED 1 million2.63%

3 months

Deposit below AED 150,0002.73%

Deposit from AED 150,000 to below AED 500,0002.78%

Deposit from AED 500,000 to below AED 1 million2.83%

Deposit from AED 1 million2.88%

Promotional AED rate for new funds4%

In plain words

Annual rate: The rate is quoted for a full year. Money held for part of a year earns the matching part of it. More on this
Tenure: The length of time you agree to leave the deposit in place. You choose it when you open the deposit, and the rate you get depends on the tenure you pick. More on this
Paid at maturity: Maturity is the day the term you chose ends. The interest is paid then, together with the amount you deposited. More on this

What your money earns here

Deposit amount

Tenure

36 months

The amount and the rate stay the same for the whole period, and the interest is paid out, not added to the balance. Try other rates

AED 699

interest over 3 years

2.33%

a year

interest earned over time

How to open

Before you apply

1.An existing account with the bank is required.

2.You can apply while your UAE residency is being processed.

3.Submit your Emirates ID within 75 days.

4.Minimum deposit: AED 10,000.

Application steps

1.Hold an HSBC UAE current or savings account. Term deposits are for existing customers aged 18 or over.

2.Open an AED deposit in online banking, or use the HSBC UAE app for promotional rates and for USD or GBP deposits.

3.Choose the amount, from AED 10,000, and a term from 1 to 36 months.

4.Decide whether the deposit should roll over automatically at maturity, with or without the interest.

5.Keep your current or savings account open until the deposit matures.

Documents and terms

HSBC UAE Term Deposit Account

Opens in a new tab

HSBC UAE Schedule of Services and Tariffs

Opens in a new tab

HSBC Personal Banking General Terms and Conditions (new customers on or after 27 June 2023)

Opens in a new tab

HSBC UAE Key Facts Statement – Term Deposit Account

Opens in a new tab

Good to know

Good option for

You already bank with HSBC, have AED 10,000 or more that you will not need until a known date, and want the rate fixed in advance. The rates are highest when the money is new to HSBC.

Consider another account if

You might need the money early, since a withdrawal in the first 30 days earns nothing, or you want to keep adding to the same pot. The HSBC E-Saver takes top-ups at any time.