THE HSBC NO FRILLS SAVINGS ACCOUNT
The HSBC No Frills Savings Account (Savings Account)
        
No Frills Savings Account allows you to bank with HSBC with a zero minimum balance requirement i.e. you can maintain this account without any minimum or average balance requirement. The No Frills Savings Account is aimed at making your banking transaction simple and convenient. You don't even need to take the trouble of visiting the branches, you can choose to simply avail of our Internet or Phone Banking facilities and bank from the comforts of your house. Read the terms and conditions fully before you apply.
Location: India
Account Name: HSBC Savings Account
Advantages:
1. You can access your account through any VISA ATM in India with your HSBC debit card. One FREE debit card will be available per account
2.  Internet Banking and Phone Banking facility each available at a nominal annual fee of Rs. 99 only
3. 1 FREE branch transaction per month. This transaction should be of the nature of cash deposit only. Additional transactions (over and above the 1 FREE transaction), will be charged a fee of Rs. 50 per transaction
4.  Keep a track of your account with Free Monthly E-statements. You will receive a mail every month to your internet banking messages inbox as well as your personal email address (provided your personal email id is registered with the Bank) informing you when your E-Statement is ready.
5.  You can also collect your monthly paper statements from your branch of account by visiting your branch of account in person to collect the same
6.  Monthly statements will only be available for collection in the branch for the preceding month (i.e. please visit the branch in April 2010 to collect your March 2010 statement)
Disadvantages:
1. If the balance in the No Frills Savings Account exceeds Rs. 50,000 or if the cumulative value of credit transactions exceeds Rs. 100,000 in any financial year, such an account will no longer be treated as a No Frills Savings Account and will be required to satisfy the conditions/criteria applicable for a regular Savings Account and be subject to relevant charges thereon. Please refer to the No Frills Savings Account Schedule of charges for details of applicable tariff.
Services:
Keep a track of your account with Free Monthly E-statements. You will receive a mail every month to your internet banking messages inbox as well as your personal email address (provided your personal email id is registered with the Bank) informing you when your E-Statement is ready.

Interest Rate: 8.50%Interest Gross: 8.50%
Interest Paid: Monthly
Minimum Income: Rs. 0
Overdraft Rate: N/A
Banking Charges: Extra services
Service Charges: Rs. 0
Account Access: Online, Tel
Withdrawal Access: Cheques

Free Banking: YesDebit Card: No
Cheque Guarantee Card: NoStanding Orders: No
Direct Debits: NoOverdraft Facility: No
Account Manager: No

Conditions:
Balance must not exceed Rs. 50,000
Features:
1 FREE branch transaction per month. This transaction should be of the nature of cash deposit only. Additional transactions (over and above the 1 FREE transaction), will be charged a fee of Rs. 50 per transaction
Introductions and Offers:
N/A
Terms and Conditions:
If the balance in the No Frills Savings Account exceeds Rs. 50,000 or if the cumulative value of credit transactions exceeds Rs. 100,000 in any financial year, such an account will no longer be treated as a No Frills Savings Account
        

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