Last Updated on 11 November 2025
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HSBC Savings Account
Savings Account
Features
- Multi-Currency Capabilities: You can open and maintain your account in several major currencies, including UAE Dirhams (AED), US Dollars (USD), Pound Sterling (GBP), Euros (EUR), and Chinese Renminbi (CNY).
- International Visa Debit Card: The account includes a complimentary international Visa debit card, providing you with global access to your funds for withdrawals and purchases.
- Widespread Deposit Network: Benefit from easy and instant deposits using over 90 cash deposit machines and more than 30 cheque deposit machines available across the UAE
- Full Branch and ATM Access: Unlike digital-only accounts, this account offers the freedom of unlimited cash withdrawals at bank branches and ATMs.
- 24/7 Account Management: Stay in control of your finances around the clock through HSBC's comprehensive digital platforms, including mobile, online, and phone banking.
- Monthly Service Fee: If the minimum average balance is not maintained, a fee of AED 25 (plus VAT) will be applied for that month.
- Early Closure Fee: A fee of AED 100 (plus VAT) is charged if you decide to close the account within the first six months of opening it.
- You can avail this AED, USD, EUR, GBP and RMB account currencies
- Minimum Balance Requirement: Personal Banking customers are required to maintain a monthly average balance of AED 3,000 (or its equivalent in other designated currencies).
- The account offers a fixed annual interest rate of 0.05% AER on balances held in AED and USD. Interest is calculated based on the minimum monthly balance and is credited to your account twice a year, in January and July.
Required Documents
- To open an HSBC Savings Account, you will be required to provide the following original documents:
- Your valid Passport
- Your valid Emirates ID card
- A valid UAE Residence Visa (applicable to non-GCC national residents)
Main Benefits
- Unmatched Accessibility: Enjoy the flexibility of both physical and digital banking, including up to six free over-the-counter transactions in AED every month.
- Ideal for Global Citizens: The multi-currency feature and international debit card make this account perfectly suited for managing your finances across borders, whether you travel frequently or have international expenses.
- Foundation for Your Savings Goals: With the option to have your salary transferred directly, this account serves as a practical and effective tool for building your savings consistently.
Frequently Asked Questions
⭐ What is the interest rate for the HSBC Savings Account?
A. The account offers a fixed annual interest rate of 0.05% AER on balances held in AED and USD. Interest is calculated based on the minimum monthly balance and is credited to your account twice a year, in January and July. A special promotional offer of 3.00% p.a. bonus interest on new funds is also available until January 31, 2026, subject to terms.
⭐ In which currency HSBC Savings Account is available for opening?
A. The applicant can open this account in multiple currencies like- AED, USD, EUR, GBP, CNY currencies.
⭐ Does the HSBC Savings Account come with a debit card?
A. Yes, it includes an international Visa debit card at no extra cost, which you can use for transactions and withdrawals both in the UAE and internationally.
⭐ How is the interest calculated?
A. Interest is calculated on the lowest balance in your account during each month and is paid out semi-annually. This differs from the eSaver account, which calculates interest daily.
⭐ How can we access HSBC Savings Account?
A. We can access this account through its 24/7 online banking, phone banking, mobile banking & SMS service.
⭐ What is the minimum balance required for opening HSBC Savings Account?
A. For Personal Banking customers, a minimum average balance of AED 3,000 per month is required to avoid the monthly service fee.
⭐ How can I access this account?
A. You can access this account via its internet & phone banking, mobile banking & SMS service anytime.
⭐ What is the main difference between the HSBC Savings Account and the eSaver Account?
A. The key difference is in their features and accessibility. The Savings Account is a comprehensive solution with a debit card, multi-currency options, and full ATM/branch access. The eSaver is a fully digital, high-yield savings account in AED only, with no card and all transactions managed exclusively online.
HSBC
In 1946, the British Bank of Iran and the Middle East commenced banking activities for Middle East citizens. Post withdrawing from Iran, the bank was renamed as the British Bank of the Middle East (BBME). Hong Kong and Shanghai Banking Corporation (HSBC) acquired BBME in 1959 and played a pivotal role in the establishment of the banking sector in the region. HSBC has a sustainability strategy of doing business. The main areas of focus are:
- Sustainable Finance
- Sustainable Operations
- Sustainable Communities
This is in sync with their global sustainability model.
Get in touch with HSBC Customer Care