HSBC E-Saver Account
Boost your savings with up to 5.00% p.a. interest
To celebrate the summer, we're giving you the chance to grow your savings faster. Earn up to 5.00% p.a. until 30 September 2024 on new money added into your E-Saver Account. Find out more
Benefits
- Competitive fixed interest ratesHigh and competitive interest rates on your deposits of up to 1.05% p.a 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 (PDF, 416KB) for a complete list of services along with any fees and charges associated with them.
If you're looking for a lower cost option, you could consider a Personal Banking Account. Not only does it offer our lowest eligibility criteria for a single account, it also has the lowest fees if you don't meet them. See our Schedule of Services and Tariffs (PDF, 416KB) for details.
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.
| Deposit amount | Bonus interest rate p.a. | Total interest rate p.a. |
|---|---|---|
| Less than AED 100,000 | 3.85% | 4.00% |
| AED 100,000 to AED 999,999 | 3.95% | 4.45% |
| AED 1,000,000 to AED 4,999,999 | 3.95% | 4.95% |
| AED 5 million and above | 3.95% | 5.00% |
| Deposit amount | Less than AED 100,000 |
|---|---|
| Bonus interest rate p.a. | 3.85% |
| Total interest rate p.a. | 4.00% |
| Deposit amount | AED 100,000 to AED 999,999 |
| Bonus interest rate p.a. | 3.95% |
| Total interest rate p.a. | 4.45% |
| Deposit amount | AED 1,000,000 to AED 4,999,999 |
| Bonus interest rate p.a. | 3.95% |
| Total interest rate p.a. | 4.95% |
| Deposit amount | AED 5 million and above |
| Bonus interest rate p.a. | 3.95% |
| Total interest rate p.a. | 5.00% |
Total interest rate is the bonus interest rate plus our standard E-Saver rate. Total interest rate assumes no more than 1 withdrawal is made from your E-Saver Account in a single month during the campaign period.
Bonus interest rates are promotional and can be subject to change. Offer ends 30 September 2024. Terms and conditions apply.
What's 'new money' and how is bonus interest applied to it?
New money is fresh funds from outside HSBC that increase your total deposits with us (net of loan and deposit maturity proceeds), when compared with your total deposits balance at 30 June 2024, and which you've paid into your E-Saver Account.
Bonus interest is applied to the average daily new money balance in your E-Saver Account at the end of each calendar month during the campaign period. The campaign period runs from 15 July to 30 September 2024.
If you don't increase your total deposits with us from 15 July to 30 September 2024 (the 'campaign period'), you won't earn bonus interest regardless of what you pay into your E-Saver.
If you do increase your total deposits during the campaign period, but you increase your E-Saver balance by more, you'll only earn bonus interest on the amount by which your total deposits have grown.
If you increase your total deposits during the campaign period, but you increase your E-Saver balance by less, you'll only earn bonus interest on the amount by which your E-Saver balance has grown.
For full details and an illustration of how this works refer to the HSBC E-Saver Bonus Interest Campaign Terms and Conditions (PDF, 146 KB).
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.
Additional information
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 1.00% p.a. 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 1.05% p.a. 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.
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