HSBC Bank

With over 40 million customers across 64 countries, HSBC is one of the most prominent banking and financial institutions in the UAE and the world. HSBC offers world-class products related to personal, commercial, and global banking, with the bank having a presence in the UAE since 1946.

To enhance the level of banking yet simplify it for all, HSBC regularly introduces digital innovations for all its customers. Using online banking and mobile banking services, one can easily complete various processes related to credit cards, loans, accounts, insurance, and more. So whether you are seeking a product as an individual or a big business, you will find the required solutions to all your banking needs at HSBC. 

Discussed below are all the major products and services offered by HSBC Bank in the UAE.

Products and Services Offered by the HSBC

To start exploring the plans, let’s have a look at the categories in which HSBC Bank offers financial products in the UAE.

Banking	Credit Cards	Borrowing	Money Transfer
Investments	Wealth Management	General Insurance	Life Insurance

Online and Offline Features of the HSBC

HSBC has enhanced its online banking platform to the level that accessing various services has become a seamless experience for its millions of users. By simply registering for online banking and logging into their accounts, HSBC users can easily enjoy banking services related to the following -

• Applying for new loans, credit cards, bank accounts, and more
• Checking information regarding recent credit card statements
• Submission of complaints or enquiries
• Transfer of funds (whether domestic or international)
• Receiving information about the latest products 

However, besides the online banking aspect, you can always physically visit an HSBC branch near you regarding any banking service you wish to access. You may visit your nearest branch and connect with a bank executive there to get your query solved, with all the online facilities available at the branches as well. 

HSBC Bank Products and Services: An Overview

Products of HSBC Bank
Everyday Banking	Current Accounts	Savings Accounts
	International Accounts
Credit Cards	Cashback Credit Card	Zero Credit Card
	Black Credit Card	Jade Credit Card
	Cash+ Credit Card	Max Rewards Credit Card
	Premier Credit Card	Advance Credit Card
	Platinum Select Credit Card	Digital Wallet
Loans	Personal Loans	Home Improvement Loans
	Education Loan	Rent Loan
	Top-Up Loan	Loan As You Go
	Car Loan
Overdraft	Secured Overdraft	Unsecured Overdraft
Transfers	Global Money Account	Global View and Global Transfers
	International Transfers	Domestic Money Transfers
	Inward Money Transfer
Wealth	Online Trading Platform	Bonds
	Mutual Funds	Financial Planning
	Wealth Management	International Level Term (ITA)
	Futura Whole Life Insurance	Critical Illness Protection
	Wealth Accumulation Plan	Zurich YourLife
	Zurich YourCare	Car Insurance
	Home Insurance	Travel Insurance
	Personal Accident Insurance

HSBC Bank Products and Services

Everyday Banking

Current Accounts

HSBC Bank offers 5 types of current accounts to its customers that are discussed below in detail:

1. HSBC Jade
   • HSBC account users can directly receive guidance from a dedicated Jade Relationship Director 
   • Required assistance available on priority without much hassle 
   • Available only for existing customers with high income and net worth 
2. HSBC Premier
   • Welcome bonus of AED 2,000 in the form of cashback 
   • No monthly fees required for maintaining this bank account 
   • Access to global service support and priority services
   • Access to financial advice from experts and wealth advisors to manage and grow your funds 
3. HSBC Advance
   • AED 1,000 cashback as a welcome bonus 
   • No transaction charges levied on using ATMs in the UAE and the GCC 
   • 50% off on processing fees when opening the international HSBC account
   • Account available in currencies like AED, EUR, GBP, and USD
4. Personal Banking Account
   • If you opt for transferring salary (at least AED 5,000), no minimum balance fee will be applicable 
   • Option to transfer funds internationally in currencies like PKB, INR, EGP, and PHP without any fees
   • Free chequebook 
   • Free cash withdrawals at any ATM of the bank in the UAE
   • Additional benefits like access to the HSBC Entertainer app for free
5. Flexi Account
   • No requirement for minimum balance 
   • Provision to transfer funds in multiple currencies across the world 
   • Enjoy the benefits of the international Visa debit card of the Flexi account
   • Option to receive a cashback credit card with the account

Savings Accounts

HSBC Bank savings accounts allow users to save their money with competitive interest rates and hassle-free services. There are mainly three types of savings accounts at HSBC -

1. Savings Account
   • Access to the international Visa debit card 
   • Convenient banking experience via online banking, phone, SMS alert, and mobile banking 
   • Option to choose between different currencies like USD, AED, EUR, RMB, and GBP for the account
2. Term Deposit Account 
   • Competitive interest rates (up to 0.2%) with the Term Deposit Savings Account
   • Provision to select from any of the currencies like AED, USD, and GBP 
   • Flexibility in deposit terms ranging between 1 and 36 months
3. E-Saver Account
   • No requirement for minimum balance with the E-Saver Savings Account 
   • No monthly account fees charged by the bank
   • Option for domestic and international transfer of funds in multiple currencies

International Accounts

HSBC international bank accounts allow users to explore tonnes of features and benefits while also taking the advantage of the bank’s global presence. 

Global Money Account

• You can always utilise your global money account for managing finances wherever you are travelling
• Non-resident Indians can also enjoy hassle-free banking services with this international account
• Option to have a global money account opened in more than 17 countries

Credit Cards

HSBC Bank offers a wide array of credit cards to allow users to make easy payments while also enjoying discounts and rewards on the finer things of life. Given below is a lineup of the credit cards provided by the bank.

1. Cashback Credit Card

   • Chance to earn excellent cashbacks (up to 10%) on each transaction
   • Complimentary access to airport lounges across the world
   • Complimentary travel insurance
   • No limit on the rewards that you can earn with this Cashback Credit Card
   • No annual fees for the first year

2. Zero Credit Card

   • Users can enjoy HSBC Zero Credit Card that comes with no annual fees
   • No charges for crossing the credit limit (albeit with certain conditions)
   • 0% interest on expenditure related to retail for the initial 3 months

3. Black Credit Card

   • Get 150,000 Air Miles in the first year of joining 
   • Access to over 1,000 airport lounges around the world
   • ‘Buy 1 Get 1’ offers on movie tickets
   • Complimentary golf in the UAE (up to two times per month) 

4. Jade Credit Card

   • Access to more than 1,000 airport lounges worldwide
   • Complimentary fine dining experiences under the ‘I love dining’ programme
   • 2 complimentary rounds of golf at select golf courses across the UAE
   • Up to 20% discount on Careem rides

5. Cash+ Credit Card

   • 1% cashback on all eligible expenditures
   • Bonus cashback on the earned cashback on a monthly, quarterly, and yearly basis
   • Multi-trip travel insurance with cover of up to US$ 500,000
   • ‘Buy 1 Get 1’ ticket offers at VOX Cinemas and REEL Cinemas

6. Max Rewards Credit Card

   • Get 1 Air Mile on every Dirham you spend
   • You can also double your Air Mile earning by spending over AED 3,000 in a month
   • Miles redeemable for spending regarding hotels, flights, and more

7. Premier Credit Card

   • 1 Air Mile earned on each AED 1 spent 
   • Access to premium lifestyle and travel privileges and benefits
   • Fine dining privileges with the HSBC entertainer app
   • Free Wi-Fi at more than a million hotspots across the world via Boingo
   • Complimentary access to select airport lounges and valet parking

8. Advance Credit Card

   • Earn 1 Air Mile for every Dirham spent using your card
   • Free-for-life credit card
   • Up to 30 % discount on travelling by air and hotel bookings through Cleartrip
   • ‘Buy One Get One Free’ offers on 2D, 3D, and 4D movie tickets all over the UAE

9. Platinum Select Credit Card

   • Get up to 10 % off on airfares at British Airways
   • Chance to explore exciting offers and rewards on the HSBC entertainment app
   • Air Miles earned on transactions
   • Attractive deals on golf across the UAE

10. Digital Wallet

    • Ease of making payments with your phone and going cashless using a digital wallet 
    • Allows users to manage all their cards digitally for online and in-store shopping and spending
    • Convenient and secure payments that don’t require the process of providing personal information at each step

Credit Card Plans

Discussed below are the major types of HSBC credit card plans

1. Balance Transfer

   • With the HSBC Balance transfer, you can transfer your dues of other cards to an HSBC credit card to centralise the repayment of the dues for a convenient experience
   • Applicable interest rate going as low as 0% for the first year
   • Benefit from a payoff period of up to 3 years

2. Cash Instalment Plan

   • Get the opportunity to use your credit card balance for cash emergencies or major requirements and pay the amount in instalments 
   • Quick access to cash using HSBC online banking services
   • Repayment period that is between 6 months and 3 years

3. Flexi Instalment Plan

   • With the HSBC Flexi instalment plan, you can make a purchase with your HSBC credit card and pay the amount in instalments at your convenience
   • No additional financial burden as these cards have low interest rates
   • Option to go for early settlement with no early repayment charges
   • One can choose from a period of 6 months to 3 years for the repayment

Borrowing

HSBC Bank serves as an excellent financial choice when you require financial aid, allowing you to borrow loans for various necessities of life. Listed below are the major types of loans offered by HSBC in the UAE:

1. Personal Loan
   • Manageable loan costs with low interest rates beginning at 7.24% per annum (actual rates decided on your profile)
   • Easy-to-plan instalments with loan repayment tenures ranging from 6 to 48 months 
   • Approval in as little as 10 minutes when applying online
2. Education Loan
   • HSBC education loans enable users to plan for quality education for themselves or their children 
   • Flexible loan repayment terms ranging from 6 to 48 months 
   • Credit life insurance not mandatory for the education loan
3. Rent Loan
   • HSBC rent loans easily let users pay advance rents at nominal costs 
   • Quick approval if the online mode of application is chosen 
   • Interest rates calculated as per the applicant’s profile (starting from 7.24% per annum)
4. Home Improvement Loan<
   • HSBC home improvement loans can help you renovate or revamp your home 
   • No mandatory requirement for a credit life insurance to apply for this loan
   • Ease of repayment ensured with the maximum loan tenure going up to 48 months
   • Easy and quick approval when applying online
5. Top-Up Loan
   • This top-Up loan allows you to avail of extra assistance with a top-up on a loan already taken from the HSBC 
   • Convenient loan repayment with tenures as high as 48 months 
   • Interest rates depending on the customer 
6. Loan-As You Go
   • The Loan-As You Go can help you secure funds to provide your child with a top-notch education 
   • Competitive interest rates for overall low loan costs
   • Loan divided into further portions to fulfil the fee payment for your child’s education as per the school’s schedule 
7. Car Loan
   • Available at low interest rates starting from 2.59 % per annum
   • Special low interest rates for individuals purchasing electric vehicles or TESLA
   • No need to transfer your salary to HSBC or open an account with the bank to obtain this loan

Overdraft

Besides loans, HSBC also offers access to quick funds in the form of short-term overdrafts. If you have a current account with HSBC UAE you can take the advantage of Overdrafts to fulfil any urgent requirements.

1. Secured Overdraft
   • Users can get an overdraft on their term deposits in emergencies
   • Easy repayment due to flexible repayment tenures and competitive rates
   • No processing fees
   • Overdraft amount of up to 95% of the term deposit
2. Unsecured Overdraft
   • With HSBC Unsecured Overdrafts, one can borrow up to AED 50,000
   • You will also get a free debit card to utilise the money straight away
   • Every year, you can renew your overdraft for free

Digital Transfers

Digital Account

HSBC provides its customers with the opportunity to transfer funds using premium digital money solutions. You can transfer and manage foreign currencies with HSBC digital products

Global Money Account

• Send and receive money in multiple currencies using HSBC Global Money account
• Send, receive, and transfer money in 21 different currencies
• Ease of transferring funds to contacts –the transfer can be completed by providing the receiver’s phone number 

Money Transfers

HSBC offers excellent money transfer solutions to help you fulfil the requirements of your family even if you are far from the UAE at the moment. These online and mobile banking options provided by HSBC allow the transfer of funds within the country and even beyond the borders.

1. Global-View and Global Transfers
   • With HSBC Global View and Global transfer, you can transfer money instantly to your family at competitive rates of exchange 
   • Quick transfer of funds without any transfer fees
   • Option to transfer funds in more than 20 currencies and to 25 countries
2. International Transfers
   • HSBC International Transfer permits the international transfer of funds easily
   • Facilities to transfer funds in over 20 currencies and to 200 nations
   • No transfer fees will apply for transactions in currencies like INR, PHP, EGP, and PKR 
3. Domestic Money Transfers
   • Easily transfer money within the UAE
   • Enhanced security with HSBC secure key
   • An on-the-spot SMS notification upon each bank transaction
4. Inward Money Transfers
   • Allows easy access to financial assistance by providing the option of transfer of funds to your HSBC account from your home country 
   • Competitive currency conversion rates 
   • If you are an HSBC Jade or Premium customer, you can also take the advantage of preferential rates

Wealth Management

The ‘Your Wealth’ section of the HSBC Bank refers to its investment and money protection solutions. With these services, you can make sure that your money is invested and managed appropriately and quite easily. 

Modes of Investment

1. Online Trading Platform
   • With the HSBC online trading platform, you can easily trade or invest in major markets of the US, Hong Kong, and the UK online
   • Same option available using HSBC mobile application
   • Easy-to-understand ‘Wealth Dashboard’ to monitor the status of investments 
2. Bonds
   • Bonds refer to debt securities offered by governments and corporations worldwide
   • With HSBC Bank, you can invest in bonds from Asia, the Middle East, Eurozone, and the US. 
   • Regular income with fixed bonds throughout the term of the bond
   • Long-term gains with low financial risk 
3. Mutual Funds
   • Choice to invest in a wide range of funds to diversify your portfolio and lower your profile risk
   • Option to invest in different financial instruments like equities, bonds, and so on
   • One can choose between lump sum and periodical investing as per their preference
4. Financial Planning
   • HSBC helps users with its Financial Planning solutions to make better investment decisions
   • Get connected with a wealth relationship manager to fulfil your financial goals using the appropriate strategy
   • Users can always access all the information related to their investments and their current state using HSBC online banking
5. Wealth Management
   • HSBC allows users to access its Wealth Management services for building sufficient funds for future 
   • You can develop a financial plan for your retirement or any major life event 
   • You will get a personal wealth relationship manager to work with you on your financial planning

Life Insurance

Understanding the requirement of life insurance to tackle the unforeseen events of life, HSBC offers a wide range of life insurance solutions to its users: 

General Insurance

Besides life insurance, HSBC also offers various general insurance plans to help you secure your car, home, vacation trips, and more. Discussed below are all the major aspects of such insurance plans in the UAE. 

1. International Level Term (ITA)
   • With HSBC International level term insurance plan, an individual can ensure the financial security of their family in their absence 
   • Besides coverage in case of death, this plan also covers critical illnesses and permanent and total disability 
   • Option to add various other covers available 
2. Futura Whole Life insurance
   • HSBC Zurich Futura Life insurance is a unit liked policy that offers you critical illness, disability, and income security coverage besides death benefits
   • Get a critical illness cover for your children with no extra charges
   • Option to add and remove the benefits of the plans as per the events of your life
3. Critical Illness Protection
   • HSBC Critical Protection offers financial security if the policyholder suffers from a critical illness
   • Get converge against 34 major critical diseases
   • The term of the plan is between 5 and 35 years
4. Wealth Accumulation Plan
   • With the Wealth Accumulation Plan, you can accumulate wealth while also having the assurance due to the insurance component 
   • One can build their own investment portfolio as per their risk appetite and currency preferences
   • You can start small with a single-stage premium and can work with regular contributions to the plan with the passage of time 
5. Zurich YourLife
   • Zurich YourLife plan serves as a level term life insurance plan for GCC residents 
   • Up to AED 600,000 life coverage 
   • Option to apply online without the requirement for any medical tests 
6. Zurich YourCare
   • Adequate financial protection against unexpected illnesses 
   • Coverage amount ranging from AED 500,000 to AED 1,000,000
   • Option to choose from plan categories like Essential, Plus, and Complete as per your needs

General Insurance

Besides life insurance, HSBC also offers various general insurance plans to help you secure your car, home, vacation trips, and more. Discussed below are all the major aspects of such insurance plans in the UAE.

1. Car Insurance
   • Comprehensive coverage provided for your car by AXA motor insurance (provided via HSBC) 
   • Flexible instalment plans to make premium payments easily
   • Avail of pick-up and drop-off services for your car to and from the service station or airport for free
   • Assistance provided with respect to RTA renewal
2. Home Insurance
   • You can safeguard your home and its belongings with HSBC home insurance 
   • Your home and its valuable belongings would be covered for up to 60 days when you are not home
   • UAE residents are eligible for this HSBC home insurance
3. Travel Insurance
   • HSBC travel insurance covers most of the major medical emergencies while travelling as well as luggage loss or trip cancellation
   • Round the clock assistance available
   • High coverage plan at affordable rates
4. Personal Accident Insurance
   • Personal accident insurance provides the required sums to the family of the policyholder in case the latter passes away or faces serious harm
   • Coverage provided against accidental death, accidental impairment, accident food poisoning, and so on
   • This insurance is available for UAE residents between the ages of 18 and 64 years 

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