| Annual Fee | Islamic Banking | Minimum Balance | Multiple Currencies | |
|---|---|---|---|---|
HSBC Business Term Deposit
|
Annual Fee: AED 0 | Islamic Banking: No | Minimum Balance: AED 50,000 | Multiple Currencies: Yes |
With a Business Term Deposit account, you can earn interest on your balance for a fixed term.
HSBC Business Term Deposit Features:
Fixed interest rate - based on InterBank money market rates
HSBC Business Term Deposit Features:
- Fixed deposit period with interest paid upon maturity
- Fixed interest rate - based on InterBank money market rates
- Free Phone Banking
- Minimum AED 50,000 deposit required, there will be a penalty based on market rate if it goes below. Average AED 3 Million turnover required on yearly basis, but this can be reviewed depending on each case
- A processing charge of AED 100 will be levied, plus a penalty based on prevalent market rates at the sole discretion of the Bank
- Current Account available in UAE Dirham, US Dollars, Euro and Pound Sterling
- Automatic rollover facility upon maturity - for the same deposit tenor
- Availability of online term deposit rate enquiry
- Online placement of fixed term deposit
Fixed interest rate - based on InterBank money market rates
- First 7 days - 0.025%
- 7days to 4th month - 0.025%
- 5th month - 0.0869%
- 6th month - 0.1722%
- 7th month - 0.1656%
- 8th month - 0.159%
- 9th month 0.1524%
- 10th month - 0.1458%
- 11th month 0.1392%
- 12th month - 0.1326%
- up to 24th month - 0.2%
