HSBC India Saving Account Minimum Balance Limit & Charges

HSBC India is the Indian arm of one of the largest banks in the world with a customer base of more than 38 million people all across the world. HSBC India mainly offers three types of accounts- savings bank accounts and current account.

The bank enables people to safely park their earnings with its savings bank accounts, which are customised to suit the varying needs of its clients.

Average Quarterly Balance

HSBC India requires all its account-holders to maintain a minimum balance or an average quarterly balance in their accounts, failing which the bank may levy certain non-maintenance charges.

How is AQB calculated

The AQB of an account is calculated by first adding up the balances at the end of each day of the quarter. The figure is then divided by the number of days in that quarter.

Maintenance of AQB

The amount of Average Quarterly Balance to be maintained varies with the different kinds of accounts and the details are as follows:

  • One can maintain an AQB of Rs 1,500,000 in a combination of savings account, current account, and fixed deposit balances.
  • As part of the HSBC India’s Corporate Employee Programme, one can maintain a corporate salary account and ensure that the salary is credited to this account.
  • Alternatively, one can also maintain a mortgage relationship with the HSBC India and the EMIs for the loan would be debited from this account.

Non-maintenance charges

  • The bank levies a service charge of 0.7% of the difference between the AQB and the account balance if a client fails to maintain the former.
  • The resulting figure does not include applicable taxes

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