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HSBC Deposits of february 2023

Open a deposit at HSBC verified by our specialists. On 09.02.2023 23 deposits are available to you.

Offers: 23

Updated
05.01.2023
17:03
Euro High Rate Savings Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Rate
i

Effective interest rate on the product

0.05%
British Pound High Rate Savings Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Rate
i

Effective interest rate on the product

0.25%
U.S. Dollar High Rate Savings Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Rate
i

Effective interest rate on the product

0.35%
High Rate Savings Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Rate
i

Effective interest rate on the product

up to 5.05%
HSBC Student Chequing
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
HSBC Performance Chequing-Unlimited
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$14.95 monthly fee
HSBC Advance Chequing Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

up to $25 monthly fee
HSBC Premier Chequing Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
U.S. Dollar Term Deposit
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Rate
i

Effective interest rate on the product

up to 3.50%
Term
i

Loan term for the financial product

30 days - 1 year
Canadian Dollar Term Deposit
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Rate
i

Effective interest rate on the product

up to 3.75%
Term
i

Loan term for the financial product

30 days - 5 years

Other types of deposits

GoDay
1.6
JUDGEV
JUDGEV
26.05.2022 at 15:46
the application is easy and takes less then 5 mins to fill out. but the funding time is quite long. if looking for instant funding then its not here...
Review
HSBC Deposits of february 2023

Types of HSBC deposits

  1. HSBC Canada offers a wide range of deposit accounts that don't have a minimum balance.

    • High Rate Savings Account with free transfers and no monthly fees. Rates are up to 1% (0.5% for daily closing balance under $25,000). Interest is calculated daily and paid monthly.
    • A tax-free Savings Account’s (TFSA) interest rate is 1% for your tax-free income, interest, and withdrawals.
    • Youth Savings Account gives a 1% interest rate for any balance, free unlimited transactions. The welcome offer gives an opportunity to get a $50 cashback.
    • Foreign Currency Savings Accounts: US dollar, Euro, British pound, Hong Kong dollar, Renminbi without monthly fees.

    Withdrawal and debit fees may be charged. ATM and Interac e-Transfer debit purchases and bill payments aren't allowed. However, you could make online and mobile banking transfers into the HSBC deposit account in the same name. The highest interest rate is for USD — 0.25%, Hong Kong dollar — 0.05%, and other — 0%, applied to any daily closing balance. Global View and Global Transfer aren't available for Renminbi.

  2. Investment:

    • Registered Retirement Savings Plans (RRSP), Registered Retirement Income Funds (RRIF) to accumulate tax-deferred funds and manage your retirement funds, Spousal Retirement Savings Plan (SRSP), Locked-in Retirement Accounts & Locked-in Retirement Savings Plans (LIRAs/LRSPs), and Life Income Fund (LIF), Locked-in Retirement Fund may be available.
    • Registered Education Savings Plans (RESP) are designed to help you save up for post-secondary education, contribute anytime, and be eligible for government grants.

    Requirements 

    To be eligible for HSBC deposit accounts, you should:

    • Be a Canadian resident
    • Be the age over 18 (according to the age of majority in your province or territory)
    • Have a valid driver’s license, Canadian Provincial ID, Machine Readable Passport, or Canadian Permanent Resident Card. 

      To be eligible for a TFSA, you must have a valid SIN. 

      To be eligible for an RRSP, you must have a valid SIN. Contributions can be made until December 31 of the year you turn 71 or to a spousal RRSP until December 31 of the year that your spouse or common-law partner turns 71. You may contribute up to your RRSP deduction limit. 

      For RESP: have a SIN; your child should be under 16 years of age when you first open the account (if the child is between the ages of 16 and 17, you can still apply if certain conditions are met. 

      For the Youth account, you should: be a Canadian resident (have a Canadian residential address), and be of the age over 19 (28 for Premier Youth).

      For student account: provide proof of enrollment in an eligible school and a valid government-issued photo ID.

      For newcomer account: be ready to have a passport and visa, confirmation of permanent residence (CoPr), and work or study permit.

      Pros and cons

      Pros

      • No monthly fees and no minimum balance for the savings account
      • Offers and benefits for new clients
      • Everyday banking through an online account and mobile app
      • Five foreign currency accounts
      • Youth and student options
      • No minimum balance options

      Cons

      • Not the best rates
      • Foreign currency accounts transactions are strictly limited 

      How to make a deposit?

      If you don't have an HSBC account, apply for a savings account online by phone at 18883104722 or at the HSBC office. Then, register an online banking account and transfer funds. 

      If you are an HSBC client, just log on to Online Banking, select «Open New Account,» and follow the instructions to set up savings accounts. 

      You may set up direct deposit for your payroll, benefits, tax refund, and automatic payments for your bills or mortgage using online or mobile banking.

      FAQ

      Is HSBC safe?

      HSBC Bank Canada is a member of the Canada Deposit Insurance Corporation (CDIC). As a result, all your deposits — excluding investment accounts like mutual funds, stocks, and ETFs — are protected for up to $100,000 per category.

      How to set up a direct deposit?

      Open an HSBC account, log on to Online Banking or mobile banking app, get a pre-filled form, or get a blank form to fill in yourself. Provide the form to your employer or service provider, including your account info in place of a void cheque.

      What is the minimum balance on an HSBC Savings account?

      There is no minimum balance required on your HSBC High Rate Savings account. However, with a daily closing balance over $25,000, you will get the highest rate of 1%. A Youth savings account has an equal rate for any balance — 1%.