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eSaver

eSaver

Enjoy the best of both worlds. With an HSBC eSaver Account, you can earn interest on your money while enjoying the flexibility of withdrawing once a month without losing any interest.
The eSaver Account is an online-only account. It is only available to be opened in UAE Dirhams and is available to UAE Nationals and Residents who hold valid UAE Residence Visas.
To encourage regular savings, no ATM card or Cheque-book is offered with the eSaver account.

Earn interest on each and every Dirham in your account. Interest is calculated on daily cleared closing balance and paid to you monthly.

The below interest rates will be applicable on the entire balance of each customer.

The corresponding interest rates from the below table will be applicable on the entire daily closing balance in eSaver account e.g. if the daily closing balance is AED 2 million then the corresponding interest rate of 0.80% from the below table will be applicable on the entire AED 2 million. Similarly if the daily closing balance is AED 6 million then the corresponding interest rate of 1.10% from the below table will be applicable on the entire AED 6 million deposit.

Full Balance of eSaver Account Interest Rates applicable from 1 May, 2016*
Less than AED 100,000 0.35%
Starting from AED 100,000 and less than AED 1,000,000 0.55%
Starting from AED 1,000,000 and less than AED 5,000,000 0.80%
AED 5,000,000 and above 1.10%

*Interest rates are subject to change.

With an HSBC eSaver Account, you get:

*Standard HSBC UAE charges apply

For all fees & charges, please refer to our latest Schedule of Tariffs


Existing HSBC UAE account holders

If you already hold an account with HSBC, then no further documents are required to open an eSaver Account



Non-HSBC UAE account holders


Sole Account

You need to complete the eSaver Account application form available here . Print out the form and then visit any of our branches or Customer Service Centres with the following documents:

  • Original passport (for all customers)
  • Valid UAE residence visa (for non-GCC National customers only)
  • Original Emirates Identification Card (for all customers)
  • Proof of UAE residence in the form of either a utility bill/rental/lease agreement/title deed and employment letter

Joint Account

Both you and your joint applicant(s) need to complete the eSaver Account application form available here . Print out the form and then visit any of our branches or Customer Service Centres with the following documents:

  • Original passport (for all customers)
  • Valid UAE residence visa (for non-GCC National customers only)
  • Original Emirates Identification Card (for all customers)
  • Proof of UAE residence in the form of either a utility bill/rental/lease agreement/title deed and employment letter

We may request further information or documentation from you, in order to comply with the Foreign Account Tax Compliance Act (FATCA). Click here to find out more.

The Basics


Account Opening


Making Transactions


Internet Banking Help



The eSaver Account makes it easy for you to save money.

For General Terms and Conditions click here

Ready to apply? Have us call youor Apply now
Arabic
eSaver

eSaver

Overview

Enjoy the best of both worlds. With an HSBC eSaver Account, you can earn interest on your money while enjoying the flexibility of withdrawing once a month without losing any interest.

The eSaver Account is an online-only account. It is only available to be opened in UAE Dirhams and is available to UAE Nationals and Residents who hold valid UAE Residence Visas.

To encourage regular savings, no ATM card or Cheque-book is offered with the eSaver account.

Earn interest on each and every Dirham in your account. Interest is calculated on daily cleared closing balance and paid to you monthly.

The below interest rates will be applicable on the entire balance of each customer.

The corresponding interest rates from the below table will be applicable on the entire daily closing balance in eSaver account e.g. if the daily closing balance is AED 2 million then the corresponding interest rate of 0.80% from the below table will be applicable on the entire AED 2 million. Similarly if the daily closing balance is AED 6 million then the corresponding interest rate of 1.10% from the below table will be applicable on the entire AED 6 million deposit.

Full Balance of eSaver Account Interest Rates applicable from 1 May, 2016*
Less than AED 100,000 0.35%
Starting from AED 100,000 and less than AED 1,000,000 0.55%
Starting from AED 1,000,000 and less than AED 5,000,000 0.80%
AED 5,000,000 and above 1.10%
*Interest rates are subject to change.

With an HSBC eSaver Account, you get:

  • FLEXIBILITY
    One withdrawal a month without losing interest
  • NO MINIMUM BALANCE REQUIREMENT
    No minimum balance requirement and no monthly account fees
  • CONVENIENCE
    Manage your money online; enjoy instant access to your savings and interest from the convenience of your home or anywhere in the world
  • DEPOSITS
    Three easy ways to deposit money into your eSaver Account
    1. Electronically through online banking transfers from your HSBC UAE accounts
    2. Deposit cheques using our Cheque Deposit Machines
    3. Telegraphic Transfers*
  • WITHDRAWALS
    Two easy ways to withdraw your money from eSaver Account
    1. Through online banking within HSBC UAE accounts
    2. Telegraphic Transfers*
  • SAVE MONEY YOUR WAY
    Top up your savings through recurring monthly payments or lump sum deposits – it is up to you. Real time payments from your HSBC Current and Savings accounts via online banking or over the phone

 

 

*Standard HSBC UAE charges apply

Fees & Charges

For all fees & charges, please refer to our latest Schedule of Tariffs

For General Terms and Conditions click here

Required Documents

Existing HSBC UAE account holders

If you already hold an account with HSBC, then no further documents are required to open an eSaver Account

Non-HSBC UAE account holders

Sole Account

You need to complete the eSaver Account application form available here. Print out the form and then visit any of our branches or Customer Service Centres with the following documents:

  • Original passport (for all customers)
  • Valid UAE residence visa (for non-GCC National customers only)
  • Original Emirates Identification Card (for all customers)
  • Proof of UAE residence in the form of either a utility bill/rental/lease agreement/title deed and employment letter

 

Joint Account

Both you and your joint applicant(s) need to complete the eSaver Account application form available here. Print out the form and then visit any of our branches or Customer Service Centres with the following documents:

  • Original passport (for all customers)
  • Valid UAE residence visa (for non-GCC National customers only)
  • Original Emirates Identification Card (for all customers)
  • Proof of UAE residence in the form of either a utility bill/rental/lease agreement/title deed and employment letter

 

 

We may request further information or documentation from you, in order to comply with the Foreign Account Tax Compliance Act (FATCA). Click here to find out more.

FAQs

The Basics

  • What is an eSaver account?
    The eSaver account is an innovative product offered by HSBC where we offer you high interest rates on an account that you operate exclusively online. There is no minimum balance, no monthly fees, and the account is accessible anytime, anywhere to help you make the most of your savings.
  • How is my interest calculated on eSaver?
    Interest is calculated on the daily cleared balance and paid monthly as long as there has not been more than one withdrawal made for that month.

    The corresponding interest rates will be applicable on the entire daily closing balance in eSaver account e.g. if the daily closing balance is AED 2 million then the corresponding interest rate of 0.60% from the below table will be applicable on the entire AED 2 million. Similarly if the daily closing balance is AED 6 million then the corresponding interest rate of 0.10% from the below table will be applicable on the entire AED 6 million deposit.
    Full Balance of eSaver Account Interest Rates applicable from 1 May, 2016*
    Less than AED 100,000 0.35%
    Starting from AED 100,000 and less than AED 1,000,000 0.55%
    Starting from AED 1,000,000 and less than AED 5,000,000 0.80%
    AED 5,000,000 and above 1.10%
    *Interest rates are subject to change.
  • When do I start earning interest on my deposit?
    Interest is paid on the first working day of the following month. Please note that you will receive interest on the daily cleared closing balance.
  • Is the interest rate that I earn the same, no matter what my balance is?
    The interest rate earned is based on a tiered structure. The following interest rates, based on your total balance apply:
    Full Balance of eSaver Account Interest Rates applicable from 1 May, 2016*
    Less than AED 100,000 0.35%
    Starting from AED 100,000 and less than AED 1,000,000 0.55%
    Starting from AED 1,000,000 and less than AED 5,000,000 0.80%
    AED 5,000,000 and above 1.10%
    *Interest rates are subject to change.
  • Do I get interest regardless of the number of withdrawals?
    Any more than one withdrawal per month, will result in interest forfeiture for that particular month.
  • Where do I do my banking?
    The eSaver account is an exclusively online account so you can do your banking anywhere you can access the HSBC UAE website. If you need help with your eSaver account, please call 800 6111 where we have a dedicated eSaver team trained to handle all your questions from 7 AM to 10 PM every day.
  • Does eSaver provide an ATM card/ chequebook?
    To encourage regular savings, we do not provide a Debit card or a chequebook.
  • Is there a minimum balance requirement to open eSaver?
    There is no minimum balance requirement to open up eSaver. All that we need is for you to activate your account by depositing at least one dirham. Please be informed that if your balance is zero for three consecutive months, your account will be closed.
  • Does eSaver charge a maintenance fee?
    There is no maintenance fee for eSaver.
  • Does eSaver charge any transactional fees?
    Transfers made electronically through online banking to HSBC UAE accounts are free while outside the UAE standard charges will be applicable as per HSBC's Schedule of Tariffs and Fees available online click here
  • Is the SMS alert service offered free of charge?
    Yes, we provide free SMS alerts to keep you up to date with your eSaver account. eSaver account holders who provide a valid UAE mobile phone number will be automatically subscribed to this service. Default settings can be changed on online banking. There are three types of messages that are sent:
    - Credit notification: You will get a text message every time you credit more than a specified amount into your eSaver account
    - Debit notification: You will get a text message every time you debit more than a specified amount of money out of eSaver
    - Balance notification: You will get a text message when your balance is under a specified minimum balance and over a specified maximum balance
  • Can eSaver be held in currencies other than the UAE Dirham?
    No, we currently offer eSaver only in UAE Dirhams.
  • Can business customers hold an eSaver account?
    No, we currently offer eSaver to individual customers only.

 

Account Opening

  • Who is eligible to open an eSaver account?
    Residents of the UAE who are at least 18 years old are eligible to open an eSaver account. Non-UAE Nationals should hold a valid UAE residence visa to open an eSaver account.
  • Do I need to be an existing customer with HSBC to open an eSaver account?
    No, non-HSBC customers can open an eSaver account. Complete the application form to open your account real time.
  • How do I open an eSaver account?
    Non-HSBC UAE account holder: Open your eSaver account online in 3 quick, easy steps resulting in your eSaver account number. Print out your application form, then visit one of the branches or Customer Service Centres to activate your account. Please bring your signed application form, original passport, valid UAE residence visa if applicable and your initial deposit in the form of a cheque.

    HSBC UAE account holder registered for online banking: If you already hold an account with HSBC UAE and have registered for online banking, simply log on and click "Open New Account", which is found on the menu on the left. Under "Account Type", click "eSaver Account" then select "UAE Dirham" as the currency. Under "From", select one of your existing HSBC accounts and then under "Amount", enter the amount of money that you would like to transfer to activate your new eSaver account. You do not need to fill out the eSaver application form or visit the Branch/Customer Service Centre!

    HSBC UAE account holder not registered for online banking: If you already hold an account with HSBC but have not yet signed up for online banking, you will need to register for online banking first to open an eSaver account. After registering, you can open an eSaver account as described for HSBC UAE account holder registered for online banking. You do not need to fill out the eSaver application form or visit the Branch/Customer Service Centres!

 

Making Transactions

  • How do I make my initial deposit into eSaver?
    Existing customers can transfer money through online banking from any of their existing HSBC UAE accounts. New customers can make their initial deposit into eSaver by presenting a cheque at any of the branches/Customer Service Centres.
  • How do I deposit money into eSaver?
    Deposits to eSaver can be done in the following ways:
    (i) electronically via v transfers within HSBC UAE accounts
    (ii) Telegraphic Transfers wherein standard HSBC UAE charges will apply and
    (iii) cheques deposited at Cheque Deposit Machines
  • How do I withdraw money from eSaver?
    Withdrawals are to be done electronically - either through online banking transfers between HSBC UAE accounts or by Telegraphic Transfers. Please keep in mind that you are allowed one penalty-free withdrawal per month. If you make more than one withdrawal, you will forfeit the interest for that month.
  • Is there a limit to the amount of funds I can transfer to/from my eSaver account after activation?
    Default limits are set on your eSaver account and can be changed on online banking by clicking 'Services' followed by 'Change online banking Limits'. The default limit for transferring funds between your own accounts within HSBC UAE is set at AED 1 million per day.

 

Internet Banking Help

  • I am having problems with online banking. What should I do?
    Call the toll free Help Desk for online banking at 800 4525
  • How does HSBC protect my information?
    We maintain strict security standards and procedures with a view to preventing unauthorised access to your data. We use leading technologies such as (but not limited to) 128 bit VeriSign secure socket layer data encryption, firewalls and server authentication to protect the security of your data. Access to your account and account information is protected by a password that you set, as well as Secure Key, which adds an extra layer of protection.
  • I need more help. How do I reach a live person?
    We offer dedicated telephone support for eSaver available toll free at 800 6111 between 7 AM to 10 PM every day. For technical help, we offer dedicated telephone support available at 800 4525, 24 hours a day, 7 days a week.

 

Ready to apply

Start the process using any of the following options
 

Have us call you  or  Apply now

 

Become an HSBC Premier or HSBC Advance customer

Apply by completing the online application form.
 

Apply now  or  Call us

 

If you're an HSBC Premier or HSBC Advance Customer already

Simply log on to online banking.
 

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If you haven't registered for online banking yet click here

 

For General Terms and Conditions click here

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This link may allow you to access a non - HSBC website. HSBC Bank Middle East Limited has no control over the linked website and is not liable for your use of it.

You are leaving hsbc.ae

This link may allow you to access a non - HSBC website. HSBC Bank Middle East Limited has no control over the linked website and is not liable for your use of it.

You are leaving hsbc.ae

This link may allow you to access a non - HSBC website. HSBC Bank Middle East Limited has no control over the linked website and is not liable for your use of it.

How to apply

Are you already an HSBC UAE customer?

Or call: 600 55 4722

What if I'm not eligible

HSBC works to develop products and services to meet your requirements. To simplify the criteria for each product we provide a minimum salary or deposit criteria.


Find out more about eSaver

Thank you for wishing to bank with HSBC. To apply for this product simply click Apply Now to fill out your details and let one of our experienced HSBC representatives call you back. Alternatively you can call us on the number below, whatever is more convenient for you.

Or call: 600 55 4722