One of the largest banks and financial services providers globally, HSBC having its subsidiary in Mumbai since 1853 has hiked interest rates on domestic fixed deposits of less than ₹2 Cr. As per the official website of the bank, the new rates are effective as of Monday, 19 December 2022. Following the most recent amendment, the bank is now providing interest rates on deposits maturing in 7 days to 60 months that range from 2.85% to 6.00% for the general public and from 3.35% to 6.50% for senior citizens. HSBC Bank India is now offering a maximum standard interest rate of 7% and 7.50% to senior citizens on deposits maturing in 36 months to less than 37 months.
HSBC Bank hikes interest rates on FDs, senior citizens earn 7.50% on this tenor