HSBC Bank India

Hongkong Shanghai Bank is a British multinational financial and banking services organization that is headquartered in London, UK.

This universal bank is organized within 4 verticals - personal financial services, investment banking, commercial banking and global private banking. The bank has over 7500 branches in 87 nations across Asia, Africa, North America, Europe and South America, with more than 100 million clients.

HSBC, India operates as a banking and financial institute that offers services and products to commercial and corporate banking clients. They even provide personal insurance service, including individual lending, debit cards, term deposit products and credit cards.

HSBC Group was established during October 1853, having its authorized capital with just Rs. 5 million in Bombay, India, (now called Mumbai) and they soon opened their branches in Chennai and Kolkata by the year 1855. The head office of HSBC India is located at Flora Fountain, Mumbai.

Services Offered

Like every other bank in India, they offer savings & current accounts facilitated by net banking, telephone and SMS services, and a host of other products and services like Demat, NRI accounts, term deposits, lockers and investment opportunities.

No Frills account allows you to avail world class banking facilities with zero balance requirements. Demat account is also provided by HSBC India, for those who love to trade frequently. Corporate Employee Programme (CEP) is designed to assist and empower the employees, help achieve financial aims, while concentrating on other key factors.

HSBC India even offers NRI banking services so that you can manage your account in India that hold in Rupees from anywhere across the world. It currently offers NRI online banking accounts in USA, Canada, Australia, UK and UAE.

HSBC India Insurance Policies

HSBC, India provides insurance depending upon your life stages -

For single and working: To protect your dependents against outstanding liabilities, such as credit card dues, untimely demise and loan taken.

Married with children: You should plan for your children’s future, education and the best thing is to opt for insurance.

Working Couple: Your responsibility will grow in future, taking house and other necessary things. Insure youself and your partner to enjoy the rest of your life with complete peace of mind. Marriage definitely entails responsibilities bigger than Spiderman!

Retirement Planning: To protect you from the financial burden after retirement, HSBC retirement and pension plans ensure that you can live a peaceful life after retirement.

The non-life insurance offerings include travel guard, critical illness policy, and complete personal injury policies.

HSBC India Loans

Like every other bank in India and abroad, HSBC India offers home loans, auto loans, personal loans and education loans.

Home Loans: Offered to both Indian citizens and NRIs; the bank offers loans only to candidates who meet their eligibility criteria, which are as mentioned below-

  • Age Limit: 21 (minimum) to 58 (salaried), 65 (self employed)

  • Loan Amount: Rs. 5 lakhs to Rs. 10 crore

  • Net Income: Rs. 5 lakh per annum (for salaried) and Rs. 7.5 lakh (for self-employed)

Smart Home Loans: It is the simple approach to saving smartly; and with this loan, you’ll get a current account; you should transfer your usual savings to Smart Account from the normal account. The eligibility criteria remain the same and rate of interest is 11.5% (per annum), whereas in case of normal home loan, it is 11 percent.

Loan against Property: With this, you can easily raise the funds against residential property and can avail a loan up to Rs. 10 Crore with 12.25% rate of interest (p.a.)

Educational Loan: Students above 18 years of age are eligible to take this loan, but the income level of the parents or guardians is considered. One can get loans up to Rs. 1 crore (minimum of Rs. 5 lakh) against residential property or banking profile, and credit history of the guardian/guarantor.