HSBC Offering RM600 Cashback For Maintaining RM30,000 Under Save & Maintain Campaign

Samuel Chua

2nd March 2026 - 3 min read

Parking RM30,000 in a bank account for a couple of months can feel like idle money, especially when cash flow, investments, and emergency savings are competing for attention. HSBC is offering RM600 cashback to selected customers who open a new savings account, apply for a credit card, and maintain a qualifying balance within a set timeframe.

The HSBC Save & Maintain Promotion Q12026 [PDF] runs from 25 February 2026 to 31 March 2026. It is open only to selected customers who received a voice call invitation and who are either new to HSBC or existing supplementary cardholders without other HSBC banking products.

RM600 Requires RM30,000 In Average Balance

To qualify for the RM600 cashback, eligible customers must open one participating savings account and apply for one participating HSBC credit card during the promotion period.

A minimum Total Relationship Balance of RM30,000 must be maintained in any one month within 60 days. The 60 day window starts from the first day of the next calendar month after the account opening date.

The RM30,000 requirement is calculated using a monthly average balance. This means the bank averages your daily end of day balances across the month. A temporary dip below RM30,000 can reduce the monthly average and cause you to miss the threshold.

Total Relationship Balance includes deposits in current and savings accounts, time deposits, selected investments, and certain insurance or takaful products with investment linked or savings components. The combined value must meet the RM30,000 minimum within the qualifying period.

A Credit Card Application Is Compulsory

Opening the savings account alone is not sufficient. Customers must also apply for and hold an active participating HSBC credit card.

The savings account and credit card application dates cannot be more than 30 calendar days apart. Cashback will be credited to the first HSBC primary credit card within 120 days after all criteria are fulfilled.

Each eligible customer can receive the cashback only once, even if more than one participating product is opened.

The Financial Trade Off Is Liquidity

The headline benefit is RM600. The practical requirement is allocating RM30,000 for at least one qualifying month within a structured timeline.

RM600 on RM30,000 represents a 2 percent return over that period. For customers with surplus funds earning minimal returns elsewhere, the promotion may provide a straightforward boost.

However, setting aside RM30,000 may reduce liquidity. Funds committed to meet the balance requirement cannot be deployed for investments, used as a larger emergency buffer, or allocated to upcoming major expenses. The opportunity cost becomes relevant if alternative uses of the funds offer higher returns or greater flexibility.

There is also a credit consideration. Applying for a new credit card generates a credit inquiry. While generally minor, this can be relevant for individuals planning to apply for a housing or vehicle loan soon.

The promotion does not affect loan rates, account fees, or borrowing eligibility. It is a one off cashback incentive tied to deposit maintenance and credit card approval.

A Short Term Reward Within A Standard Banking Relationship

The promotion ends on 31 March 2026. After that, the savings account and credit card remain as standard banking products under their usual terms.

Over the next one to three years, similar deposit based campaigns are likely to continue across the banking sector. The key consideration is whether maintaining RM30,000 fits within your existing financial plan or requires reallocating funds from higher priority uses.

A one time RM600 reward can be worthwhile, provided the funds were already available and not needed elsewhere.

Samuel Chua

Samuel writes about personal finance and financial news, focusing on how banking updates, policies, and promotions affect everyday money decisions. He enjoys making complicated financial topics easier to follow. Outside of writing, he spends his time watching TV shows and occasionally convincing himself he will only watch one episode.

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