Last Updated on 17 November 2025
Your details are safe and secured
Credit Bureau Consent, Welcome Offer & General Terms & Conditions
I hereby acknowledge and agree to allow Citibank to share my details with any UAE credit bureau and make enquiries about me with any UAE credit bureau at its sole and absolute discretion. I agree to the Terms and Conditions listed below. Citibank Terms and Conditions apply, are subject to change without prior notice and are available upon request. For the current Terms and Conditions, please visit our website www.citibank.ae. All offers are made available on a best-effort basis and at the sole discretion of Citibank, N.A. Citibank, N.A. makes no warranties and assumes no liability or responsibility with respect to the products and services provided by partners/other entities. By inquiring about our services, offers or products, you will be authorizing our representatives to approach you on your contact details including your telephone/mobile number for any product or service offered by Citibank. The applicant agrees to be bound by Citibank’s General Terms and Conditions available on the website www.citibank.ae. The applicant hereby represents and warrants that the information provided herein is true, accurate, and complete and that he/she agrees to remain responsible for and to indemnify Citibank, N.A. from and against any losses, claims and/or liabilities incurred by Citibank NA as a result of having relied on such information. Citibank, N.A. is not required to verify the information provided by the applicant and neither is the bank obliged to provide the applicant with any loans or credit facilities based on the provided information. The products and services mentioned on this website are not offered to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, The Isle of Man or the UK. This page is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to such individuals.
Thank you for providing your details.
HSBC Term Deposit
Term Deposit
Features
- Guaranteed Fixed Interest Rate: Secure a competitive, fixed interest rate for the entire duration of your deposit, with interest calculated daily and paid at maturity.
- Flexible Term Options: You can choose a tenure that suits your financial goals, with terms ranging from as short as one month up to three years.
- Multi-Currency Deposits: This deposit account can be opened in major currencies, including UAE Dirhams (AED), US Dollars (USD), and Pound Sterling (GBP).
- Low Minimum Deposit: You can start with a minimum deposit of just AED 10,000 or its equivalent (USD 5,000 / GBP 5,000), making it an accessible fixed deposit account in the UAE.
- Automated Renewal: You have the option to automatically roll over your principal and interest into a new term deposit upon maturity, ensuring your savings continue to work for you.
- It is important to understand the charges for accessing your funds before maturity:
- Withdrawal within 30 Days: If you break the deposit within the first 30 calendar days, you will receive your principal amount back, but no interest will be paid.
- Withdrawal after 30 Days: If you break the deposit after 30 days, a premature withdrawal charge is applied. The interest is recalculated based on the historical rate for the completed term, minus a 1% penalty. If this calculation results in a rate below zero, no interest will be paid.
- You can open this account in AED and other major currencies also
- Required to maintain a minimum monthly balance of AED 10,000
Required Documents
- A key requirement for opening an HSBC Term Deposit is that you must already be an existing HSBC customer with an active current or savings account. As a result, you will typically not need to submit new documents, as your information should already be on file with the bank. These documents include:
- Your valid Passport
- Your valid Emirates ID
- A valid UAE Residence Visa (for non-GCC nationals)
Main Benefits
- Predictable, Secure Growth: Know exactly how much interest you will earn from day one, providing you with complete certainty over your investment returns.
- Higher Earning Potential: Earn higher interest rates compared to a traditional savings account, maximizing the growth of your funds.
- Protection from Market Fluctuations: Because your interest rate is fixed, your returns are protected from any drops in market interest rates during your term.
- Digital Management: Easily manage and monitor your Term Deposit account 24/7 through HSBC's online and mobile banking platforms.
Frequently Asked Questions
Q. What is a Term Deposit Account?
A. A Term Deposit account, often called a fixed deposit, is a type of savings account where you deposit a sum of money for a fixed period (the "term") at a guaranteed interest rate. It is designed to offer higher returns than a regular savings account.
Q. What are the interest rates for the HSBC Term Deposit?
A. HSBC offers both promotional and standard tiered rates. Promotional rates for new funds can be as high as 3.50% (AED), 3.95% (USD), and 3.55% (GBP) for specific terms. Standard rates vary based on the deposit amount and term length, with higher balances often securing better rates.
Q. What is the minimum amount needed to open an HSBC Term Deposit in the UAE?
A. The minimum deposit required is AED 10,000 for Dirham accounts, or USD 5,000 / GBP 5,000 for foreign currency accounts.
Q. Can I add more money to my Term Deposit?
A. No, you cannot add additional funds to an existing Term Deposit once it is opened. However, you are free to open multiple Term Deposit accounts.
Q. What happens if I need my money before the term ends?
A. You can access your money by breaking the deposit, but there will be a significant early withdrawal charge. This usually involves forfeiting some or all of the interest earned, making it best for funds you are certain you will not need for the duration of the term.
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