HSBC Basic Savings Account

A free ATM will begin upon opening an HSBC Basic Savings Account, with eight complimentary ATM withdrawals per month and access to the internet and mobile banking.

HSBC Basic Savings Account
Interest Rate
0.25% p.a.
Min. Deposit
RM20
Phone Banking
Available
Account Statement
eStatement (via email)

Interest Rate

What you earn based on the amount that you have in your account

Min. AmountMax. AmountInterest Rate
RM20No maximum0.25% p.a.

Features

What would make it different?

Online Banking
HSBC Online Banking
Mobile App
PIDM Protected
Up to RM250,000
SMS Transaction Alert
RM1 per month for account holders who sign up
ATM Card
Available

Fees & Charges

MEPS Withdrawal Fee
RM1
HOUSe Withdrawal Fee
RM1
Overseas Withdrawal Fee
RM5
Early Closure Fee
RM20
Inactive Account Fee
RM10

Requirements

Minimum Age
  • 18 years old
Minimum Initial Deposit
RM20
Minimum Balance
RM20
Who can apply
  • Malaysians
  • Foreigners

More Information

HSBC Bank Digital Account Opening Rewards Promotion

For a limited time, selected HSBC/HSBC Amanah new-to-bank individual customers will receive an RM100 Cash Reward upon successful sign-up for HSBC/HSBC Amanah Basic Savings Account/-i during the Promotion Period.

This promotion runs from 1 March 2023 to 30 June 2023, subject to the promotion's terms and conditions.

Who is qualified for this promotion?

This promotion is open to new-to-bank individual customers only. Those who are not eligible for this promotion include the following.

  • Permanent and/or contract employees of HSBC (including their subsidiaries and related companies) and their immediate family members;
  • Customers who already have an existing account or relationship with HSBC;
  • Non-individual or corporate customers

How to be eligible for this promotion?

Please follow the participation criteria below to be eligible for this promotion.

  1. Open an HSBC/HSBC Amanah Basic Savings Account/-i online; and
  2. Download HSBC Malaysia mobile banking app, register for an online banking account, and log in to the mobile app within 30 calendar days from the date of your account opening; and
  3. Perform 5x transactions with a minimum of RM20 per transaction within 45 calendar days from the date of your account opening.

Which savings account(s) can I apply for?

You can apply for the:

  • HSBC Basic Savings Account
  • HSBC Amanah Basic Savings Account-i

Where can I reach out to get more information?

For any questions, please get in touch with HSBC directly.


Why should I open an HSBC Basic Savings Account?

With this basic savings account, you are eligible to earn a flat interest rate of 0.25% which is good enough for a basic savings account, as it may happen to other banks where there is no interest rate for their basic accounts. 

What are the features and benefits?

Despite this being a basic account, you are allowed to access HSBC's online banking to make your transactions. For keeping track of your past banking transactions, you can always access it to check on your e-statement, and your account balances as well as keep track of your transactions on the go.

And for your convenience, you will also be getting a complimentary HSBC Visa Debit Card for easy payment and cash withdrawals at any ATM facility nationwide and even overseas.

Who can apply for this basic savings account by HSBC?

This savings account is open to Malaysians with a valid IC, Malaysian permanent residents with a valid PR card, including non-Malaysians with a valid passport. As long as you're 18 years old and above, you're eligible to apply for this savings account.

On top of that, since this is a deposit account, a minimum deposit of RM20 is required for account opening.

Do I need to pay any fees and charges?

Yes, there are several fees and charges you should take note of. You can refer to the charges from the list below.

  • The debit card replacement fee is RM10.
  • Once exceed the complimentary 8 ATM withdrawals, it will cost you RM1 for each transaction.
  • The MEPS withdrawal at other banks is RM1 per withdrawal.
  • The HOUSe withdrawal costs you RM1 for each withdrawal.
  • RM5 will be imposed on your account for each overseas withdrawal.
  • Each statement request costs you RM20.
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