HSBC E-Saver Account
Benefits
- Competitive fixed interest ratesHigh and competitive interest rates on your deposits of up to 0.10% applicable on entire balance and paid monthly into the account.
- No minimum balance requirement
- No monthly account fees
- 3 easy ways to deposit money into your E-Saver AccountElectronically through online banking transfers from your HSBC UAE accounts, deposit cheques using our Cheque Deposit Machines or telegraphic transfers.1
- ConvenienceManage your money online.
- Save money your wayTop up your savings through recurring monthly payments or lump sum deposits.
- Easy withdrawalsWithdraw your money from E-Saver through online banking or via telegraphic transfers.1
- Money transfersTransfer funds within the UAE and abroad in multiple currencies.
Things you should know
An HSBC account comes with monthly statements. Please refer to our Schedule of Services and Tariffs for a complete list of services along with any fees and charges associated with them.
If you are a salaried customer and your salary is transferred to HSBC UAE, you will not be required to maintain a minimum balance or a relationship balance with us for any account that you open with us. If you stop transferring your salary to HSBC UAE, then a fee may be applied as per the Schedule of Services and Tariffs.
If you are a non-salary transfer customer, a lower cost option for you to consider is to have a personal banking proposition, and open a Flexi or E-saver account, as you will not be required to maintain a minimum balance in those accounts. If you choose a different proposition or open a different account type, then a fee may be applied for not maintaining a minimum balance as per the Schedule of Services and Tariffs.
The E-Saver Account is an online Dirham account available to UAE nationals and residents who hold valid UAE residence visas. You can open an E-saver account through online banking.
The account is not offered with a Debit Card or Cheque Book.
Earn interest on each and every Dirham in your account. Interest is calculated on daily cleared closing balance and paid to you monthly.
If you do more than one debit in one calendar month, you will not earn any interest for that calendar month.
| Full balance of E-Saver Account2 | Interest rates applicable (p.a) |
|---|---|
| Less than AED 100,000 | 0.15% |
| Starting from AED 100,000 and less than AED 1 million | 0.50% |
| Starting from AED 1 million and less than AED 5 million | 1.00% |
| Starting from AED 5 million and above | 1.05% |
| Full balance of E-Saver Account2 | Less than AED 100,000 |
|---|---|
| Interest rates applicable (p.a) |
0.15% |
| Full balance of E-Saver Account2 | Starting from AED 100,000 and less than AED 1 million |
| Interest rates applicable (p.a) |
0.50% |
| Full balance of E-Saver Account2 | Starting from AED 1 million and less than AED 5 million |
| Interest rates applicable (p.a) |
1.00% |
| Full balance of E-Saver Account2 | Starting from AED 5 million and above |
| Interest rates applicable (p.a) |
1.05% |
All fixed interest rates quoted above are Annual Equivalent Rates. This is a notional rate, which illustrates what the credit interest will be if interest were paid for a full calendar year.
1Standard HSBC fees and charges apply.
2E- Saver account interest is calculated on daily closing balance and paid monthly. The interest will accrue for each calendar day in a month, eg if the daily closing balance is AED 2 million, then the corresponding interest rate of 0.03% set out in the 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 0.05% set out in the above table will be applicable on the entire AED 6 million deposit.
Interest on UAE Dirhams are calculated on a 360 day basis.
3Fixed interest rates are subject to change from time to time at the sole discretion of the Bank. This change will automatically reflect on your e-saver account. We will notify you of any changes to the Fixed interest rate before they happen in line with the Personal Banking Terms and Conditions.
Documents required to apply
Existing HSBC UAE account holders:
If you already hold an account with HSBC, then no further documents are required to open an E-Saver Account.
Non-HSBC UAE account holders:
Sole account
You need to visit a Branch or Customer Services Centre 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 visit a Branch or Customer Service Centre 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
Apply online
New to HSBC UAE
Instantly confirm your eligibility online and get an approval in principle.
Existing HSBC UAE Customers
Log on to online banking for the quickest and easiest way to apply.
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