Savings Account
Get the most out of your money
- Interest on Savings Accounts is calculated on the daily cleared balance and shall be credited to the account every month for normal and HeadStart Savings Accounts and for Passbook Savings Accounts on a 6 monthly basis (June & December) in arrears. Interest on Call Deposits is calculated on the daily cleared balance and shall be credited to the account every month in arrears.
- Interest rate varies in line with market conditions
- No cheque books are issued
- Withdrawals of up to BHD1,000 per day via ATMs of up to BHD1,000 per day via ATMs
- Debit card issued free of charge with opening of Statement Savings account (No Debit card is issued for Passbook Savings accounts)
- Personal Internet Banking Access to a range of account related services through Internet
- Phone Banking Access to your account through Phone. You will be required to pre-register for this service. Please contact your branch for details. Thereafter all you have to do is dial 80001900 to access your account
- You must be aged 18 years and over. Non-residents may also open savings accounts
- Minimum monthly average balance of BHD 20 to be maintained
- Time Deposits may also be opened by parent(s) in favor of minor(s)
- A monthly service charge of BHD 1 will be charged if the above minimum average balance is not maintained
Bahraini Nationals & GCC Nationals
Current/valid CPR copy OR current/valid Smart Card
If CPR/Smart Card is under issuance:
- A letter issued by CPR/Smart Card regarding the address OR letter issued from the employer confirming the current residential address
- Current/valid passport copy
- Signed the undertaking letter
- Proof of address
Expat Residence of Bahrain
- Current/valid passport copy along with the residence permit page
- Current/valid CPR
If CPR is under issuance:
- A letter issued by CPR regarding the address OR letter issued from the employer confirming the current residential address
- Signed the undertaking letter
- Proof of address
Expat non-residence of Bahrain
- Current/valid passport copy OR Current/valid ID
- Proof of address
| Banking Service Charges | |||
| Branch Banking | Advance* | Additional information | |
| Account charges | |||
| Savings accounts | |||
| Monthly Minimum Balance | 20.000 | or equivalent amount in foreign currency | |
| Monthly Charge if below minimum Balance | 1.000 | * CBB exemptions may apply | |
| Current Accounts | |||
| Monthly Minimum Balance | 500.000 | or equivalent amount in foreign currency | |
| Monthly Charge if below minimum Balance | 8.000 | ||
| Overdrawn Current Account (Monthly) | 5.000 | ||
| Issuing Cheque Books | |||
| Large | 5.000 | Free | |
| Fixed Deposits | |||
| Minimum Deposit Amount | 1,000.000 | or equivalent amount in foreign currency | |
| Breaking prior to maturity (irrespective of tenure) | 25.000 | This charge will be waived if the fixed deposit is being broken for the purpose of investing the entire amount with HSBC Financial Planning Services Products | |
| Other Charges | |||
| Branch Banking | Advance* | Additional information | |
| Standing Order | |||
| Internal Transfer | No Charge | ||
| External Transfer | Refer to Wire Transfer charges | ||
| Set-up | 3.000 | ||
| Amendments | 3.000 | ||
| Penalty for insufficient funds | 10.000 | ||
| Copy of Account Statement - past one year | 5.000 | ||
| Copy of Account Statement - over 1 year old | 10.000 | BD10/- per year per account | |
| Copy of Transaction Documents | 10.000 | ||
| Savings Certificate Replacement | 10.000 | ||
| Balance Certificate | 10.000 | ||
| Stop Payment | 10.000 | ||
| Discharge Certificate (Non-liability Certificate) | 10.000 | ||
| Verification of Documents | 10.000 | May be done only for HSBC Group Banks | |
| Cheque Collection | |||
| Branch Banking | Advance* | Additional information | |
| Incoming Cheques | No Charge | ||
| Outgoing Cheques | No Charge | ||
| Cheque Returned by the Bank | No Charge | Cheques drawn on other banks returned unpaid | |
| Cheque Returned to the Bank | 10.000 | Cheques drawn on HSBC returned unpaid for the reason: refer to drawer/not arranged for/ represent |
|
| Special Clearing | 5.000 | per cheque | |
| Foreign Currency Cheques Sent for Collection | 10.000 | per cheque | |
| Cheques Purchased | BD 10/- for postage, commission - 0.2% of the cheque amount, minimum BHD5/- max 200/- | ||
| FCY Inward Remittances | 0.2% | Minimum BHD 5/- Max BHD 200/- | |
| Cash Withdrawal Charges | |||
| Branch Banking | Advance* | Additional information | |
| Over the Counter withdrawal belowBHD 1500/- | N/a | 3.000 | |
| Over the Counter withdrawal belowBHD 1000/- | 3.000 | N/a | per withdrawal |
| Counting coins | 5.000 | BHD 5/- regardless of the amount being counted | |
| Cash withdrawal from foreign currency accounts | 4.00% | except for USD - 1% | |
| Cash deposit into foreign currency accounts | 4.00% | except for USD - 1% | |
| Remittance Fees | |||
| Branch Banking | Advance* | Additional information | |
| Issue of Demand Draft through Cheque/Account | 7.000 | DDs will not be issued against cash or cheques over the counter |
|
| Issue of Demand Draft Against Cash | n/a | Not available | |
| Cancellation of Demand Draft | 5.000 | ||
| Collection of International Managers Cheque | 12.000 | BD5/- if drawn on HSBC Group | |
| Issue of Cashier's Order | 5.000 | ||
| Issue of Cashier's Order (against cash) | n/a | Not available | |
| Cancellation of Cashiers Order | 10.000 | ||
| Remittance (Door-to-door): (through courier) | n/a | Not available | |
| Fixed TT Charges when Overseas charges are to be debited to the account of the remitter - charges will be debited to the account the following day | for Euro transfers (BHD 1.500); for GBP transfers (BHD 1.000); for SAR transfers (SAR 20.000); for QAR transfers (QAR 50.000); for USD transfers (USD 25.000 = BHD 9.45) |
||
| Payment Investigation Charges - applicable for TTs rejected for errors |
5.000 | Charge is applicable for each instance that the transfer is resubmitted | |
| Wire Transfer (Swift) | |||
| Branch Banking | Advance* | Additional information | |
| Within Kingdom of Bahrain | 5.000 | BD 3/- if made over the internet | |
| Outside Bahrain – HSBC Group Banks | 7.000 | BD 5/- if done over the internet | |
| Outside Bahrain – non-HSBC Group Banks | 8.000 | BD 6/- if done over the internet | |
| Global Transfers (Me2Me) | n/a | $7.000 | Applicable for transfers made over the internet |
| ATM Cards (Local and International) | |||
| Branch Banking | Advance* | Additional information | |
| Initial | No Charge | ||
| Replacement | 5.000 | ||
| Cash Withdrawal & Balance Inquiry | |||
| In Bahrain | |||
| HSBC Bank ATMs | No Charge | ||
| Other Banks' ATMs (BENEFIT NETWORK) | 0.200 | ||
| In GCC Countries | |||
| HSBC & Non HSBC ATMs | 1.000 | * 0.500 on balance inquires, Applicable exchange rate | |
| Outside Bahrain | |||
| HSBC ATM on GATS Network | 1.000 | Applicable exchange rate | |
| HSBC ATM / Non HSBC ATM on Plus, Cirrus & Visa | 2.000 | Applicable exchange rate | |
| Rejected claims for ATM disputes | 10.000 | ||
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