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8 November 2024

HSBC cuts its US dollar savings rate from 0.75% to 0.5%

The Hongkong and Shanghai Banking Corporation Limited has announced that it will, with effect from 11 November 2024 (Monday), cut the HSBC Savings Rate for its US dollar savings deposits by 25 basis points to 0.5% per annum from the 0.75% per annum set on 20 September 2024, when it was cut by 25 basis points.

The Bank’s tiered interest rate structure with effect from 11 November 2024 is as follows:

Account balance (USD) Interest rate per annum
1,000 and above 0.5%
Below 1,000 0%

Note to editors:

HSBC’s tiered interest rate structure
HSBC’s tiered interest rate structure is applied to the US dollar savings deposit rates offered under HSBC Premier Elite, HSBC Premier, HSBC One, Personal Integrated Accounts, US Dollar Passbook Savings, CombiNations Savings / Statement Savings and Business Integrated Accounts.

The Hongkong and Shanghai Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 60 countries and territories. With assets of US$3,099bn at 30 September 2024, HSBC is one of the world’s largest banking and financial services organisations.