Our Enhanced Time Deposit is a combination account that allows a resident or non-resident to open a time deposit that links local and foreign currency together. Tenures are as follows :- 7-days,1-Month,3-Months,6-Months and 1-Year.
Benefits:
- 24-hour ATM convenience - You can access your account via ATMs 24 hours a day, seven days a week. Click here to learn more.
- Flexible Tenors - You can place term deposits with HSBC, for varying periods of time, from 1 to 12 months.
- Maximum Returns - Enhanced Time Deposit offers high profit rates thereby enhancing your wealth. The higher the term you choose, the higher the profit rate.
- Automatic Overdraft facility - You get an automatic overdraft facility as soon as your account is opened up to 90% against the deposit in rupees.
- Liquidity - You can link time deposits of various maturities to one account. It provides the twin benefits of high returns on a time deposit and the convenience of a current account through the overdraft facility.
- Deposit in clusters - You can also place up to 30 time deposits in clusters so that you may encash a cluster without having to lose out on income on the rest of your deposits.
- Pay out of profit according to your needs - You can choose your own pay out of profit, either monthly, quarterly or upon maturity.
- Account statements - You can obtain statements of accounts as often as you want, on a daily, weekly, fortnightly, monthly or six monthly basis.
- Combination of a Local and Foreign Currency Account.
Important Information
- Profit accrued will not be rolled over with principal upon maturity of foreign or local currency time deposit.
- Zakat will be deducted where applicable.
- Profit will be subject to withholding tax at rates levied by the Government of Pakistan.
Documents required
Bank Reference Letter, National Identity Card or Passport
Minimum Balance
Individuals - PKR 200,000 or USD 10,000 / GBP 6,500
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