HSBC cuts its US dollar savings rate from 1.0% to 0.75%
The Hongkong and Shanghai Banking Corporation Limited has announced that it will, with effect from 20 September 2024 (Friday), cut the HSBC Savings Rate for its US dollar savings deposits by 25 basis points to 0.75% per annum from the 1.0% per annum set on 28 July 2023, when it was raised by 12.5 basis points.
The Bank’s tiered interest rate structure with effect from 20 September 2024 is as follows:
| Account balance (USD) | Interest rate per annum |
|---|---|
| 1,000 and above | 0.75% |
| Below 1,000 | 0% |
Note to editors:
- HSBC’s tiered interest rate structure is applied to the Hong Kong dollar savings deposit rates offered under HSBC Premier Elite, HSBC Premier, HSBC One, Personal Integrated Accounts, Hong Kong Dollar Passbook/Statement Savings, University Student and Cash Card accounts, Super Ease and Business Integrated Accounts.
- HSBC’s bonus interest rate is only applicable to personal customers.
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$2,975bn at 30 June 2024, HSBC is one of the world’s largest banking and financial services organisations.