In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question
HSBC Term Deposit
Interest rate 3 months interest rate
Up to 4.50% p.a.
Minimum opening deposit
$5,000
Account keeping fee
$0

Summary

A HSBC term deposit offers the flexibility of being fully online, while earning bonus interest.

When you open an HSBC term deposit online, it rewards your account by increasing the interest rate by an extra 0.10% per annum (p.a.). With this type of high interest savings account, your money is locked into a fixed rate term, letting you to know exactly how much will be earned and giving you more incentive to reach that potential.

Pros

  • Available in both Australian dollars and selected foreign currencies
  • Earn a bonus when opening through Online and Internet banking

Cons

  • Minimum balance of AUD $5,000

In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question

Details

Key details

Product Name HSBC Term Deposit
3 month interest rate 4.50%
4 month interest rate 3.75%
6 month interest rate 4.40%
7 month interest rate 4.00%
9 month interest rate 4.30%
12 month interest rate 4.20%
24 month interest rate 4.10%
36 month interest rate 4.00%
48 month interest rate 4.00%
60 month interest rate 4.00%
Minimum Opening Deposit $5,000
Minimum age requirement 18
Government guarantee Yes

Eligibility

Minimum Age Requirement 18
Joint account availability Yes
Min Deposit $5,000
Available to children Not available for children
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Key features

Account keeping fees

You are not charged any fees for applying for this account or for its monthly maintenance.

Interest rates

The interest rates applied to your balance are fixed and tiered so that the longer you keep your savings inside of the account, the higher the return on your investment.

How to apply

Eligibility

If you are not already an HSBC customer, or are looking to open a term deposit of longer than one year, you will need to visit your local branch in order to apply for a term deposit. Existing customers with internet banking and who plan on opening an account with terms between 1 and 12 months can get started on applying by visiting HSBC website. Before heading out to a branch or starting an online application, you should note the following eligibility criteria for this account:

  • Minimum age. While HSBC lists no minimum age requirement for their term deposit, applicants under the age of 18 should ask at their local branch before starting to apply.
  • Residency requirements. An applicant will need to show that they have a valid residential address in Australia at the time of application.

Compare other savings accounts

1 - 12 of 186
Updated regularly
Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
Ubank High Interest Save Account
Ubank logo
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $500
  • Savings up to $100,000
Go to siteView details
 Use the code FINDER20 to score $20 after 5 card purchases in your first 30 days (T&Cs on ubank's site).
ING Savings Accelerator ($150,000 - $500,000)
ING logo
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
4.70%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
 Ideal for higher balances, savers can earn up to 5.4% for the first 4 months and up to 4.7% thereafter. There are no conditions and $0 account-keeping fees.
Rabobank High Interest Savings Account
Rabobank logo
Maximum Variable Rate p.a.
5.60%
Standard Variable Rate p.a.
4.35%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Ubank High Interest Save Account
Ubank logo
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $500
  • Savings up to $100,000
Go to siteView details
ING Savings Accelerator ($150,000 - $500,000)
ING logo
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
4.70%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Macquarie Savings Account
Macquarie Bank logo
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
5.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Suncorp Bank Growth Saver Account
Suncorp Bank logo
Maximum Variable Rate p.a.
5.05%
Standard Variable Rate p.a.
0.35%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance by $200 each month (excl. interest)
  • Only 1 withdrawal
  • No balance limit on earning interest
Go to siteView details
Bank of Queensland Simple Saver Account
BOQ logo
Maximum Variable Rate p.a.
4.85%
Standard Variable Rate p.a.
4.85%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $5,000,000
Go to siteView details
Newcastle Permanent Smart Saver Account
Newcastle Permanent logo
Maximum Variable Rate p.a.
4.50%
Standard Variable Rate p.a.
0.05%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance
  • No more than 2 withdrawals
Go to siteView details
ING Savings Maximiser
ING logo
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
  • Balances up to $100,000
Go to siteView details
IMB Reward Saver Account
IMB logo
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $50
  • No withdrawals
  • Balances up to $1,000,000
Go to siteView details
 Earn up to 3.25% p.a. after the introductory period ends.
Bankwest Easy Saver
Bankwest logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000.99
Go to siteView details
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Showing 12 of 15 results

Compare other products from HSBC

Sources
  1. HSBC Term Deposit information page
  2. HSBC Term Deposit TMD

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Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full profile

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