Term Deposits, Bank Term Deposits | HSBC Canada

Term Deposits

Choose from a range of secure investments to meet your financial needs

HSBC Term Deposits offer you a worry-free investment with a guaranteed rate of return and flexible options.

Term Deposit Rates Terms Interest Redeemable Full details

Canadian Dollar Term Deposit

COMPETITIVE RATES

VARIETY OF TERMS

DAILY INTEREST

REDEEMABLE

Full details
Key features and benefits
  • Enjoy the peace of mind of a worry-free investment
  • Have the flexibility to redeem prior to maturity1
  • Choose from a range of terms, from 30 days to 5 years
  • Earn a guaranteed rate of return
Additional details
  • Minimum investment of $1,000 or $5,000 required, depending upon the selected term
  • Interest calculated daily and paid at your chosen interval2
  • If redeemed prior to maturity, no interest is paid1
  • Automatic renewal option3
  • Eligible for CDIC Insurance
  • For terms less than 30 days, please contact HSBC for details

Rates are subject to change without notice. For information and to confirm most recent rates, please contact any HSBC branch.

How to Apply

Existing HSBC customer

Log on to Personal Internet Banking and select "Open Online"

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New to HSBC

Call toll-free
1-888-310-4722

Visit a branch

1Redeemable prior to maturity with no interest paid.
2Interest is calculated daily, not compounded, and is paid at the interval as opted by you (which may be monthly, semi-annually, annually or at maturity).
3You can opt into our automatic renewal option when purchasing your term deposit. If you don’t notify us before maturity, we will automatically re-invest your deposit (either the principal only or principal and any interest earned) at the interest rate applicable on the date of renewal, to help maximize the growth of your savings. Consult your HSBC branch regarding any eligibility &/or restrictions with setting up an automatic renewal option on your term deposit(s).
4Canadian Deposit Insurance Corporation
Some HSBC accounts and deposit products up to certain dollar amounts are eligible for insurance under the Canada Deposit Insurance Corporation Act (CDIC). Learn more about CDIC and how CDIC Deposit Insurance works:
● Visit http://www.cdic.ca/home/Pages/default.aspx
● Read "Protecting Your Deposits." Visit CDIC to download or contact our Internet Banking Support at 1-877-621-8811 to request a copy
Please note some products, such as foreign currency accounts, are not eligible for CDIC Deposit Insurance.

 

U.S. Dollar Term Deposit

COMPETITIVE RATES

VARIETY OF TERMS

DAILY INTEREST

REDEEMABLE

Full details
Key features and benefits
  • Invest U.S. Dollars at a fixed rate for a fixed period of time
  • Enjoy the peace of mind of a worry-free investment
  • Have the flexibility to redeem prior to maturity1
  • Choose from a range of terms from 30 days to 1 year
  • Receive a competitive interest rate
Additional details
  • $5,000 minimum investment
  • For terms less than 30 days, please contact HSBC for details
  • Interest calculated daily, not compounded, and paid at maturity2
  • If redeemed prior to maturity, no interest is paid3
  • Automatic renewal option3
  • Not eligible for CDIC Insurance4

Rates are subject to change without notice. For information and to confirm most recent rates, please contact any HSBC branch.

Need help?

Call toll-free
1-888-310-4722

Find a branch


1Redeemable prior to maturity with no interest paid.
2Interest is calculated daily, not compounded, and is paid at maturity.
3You can opt into our automatic renewal option when purchasing your term deposit. If you don’t notify us before maturity, we will automatically re-invest your deposit (either the principal only or principal and any interest earned) at the interest rate applicable on the date of renewal, to help maximize the growth of your savings. Consult your HSBC branch regarding any eligibility &/or restrictions with setting up an automatic renewal option on your term deposit(s).
4Canadian Deposit Insurance Corporation
Some HSBC accounts and deposit products up to certain dollar amounts are eligible for insurance under the Canada Deposit Insurance Corporation Act (CDIC). Learn more about CDIC and how CDIC Deposit Insurance works:
● Visit http://www.cdic.ca/home/Pages/default.aspx
● Read "Protecting Your Deposits." Visit CDIC to download or contact our Internet Banking Support at 1-877-621-8811 to request a copy
Please note some products, such as foreign currency accounts, are not eligible for CDIC Deposit Insurance.
The principal and interest earned in the term deposit will be subject to changes in currency-exchange rates if you plan on converting into or out of a foreign currency at maturity. For example, if you plan on converting your term deposit into Canadian dollars at the end of the term, the principal and interest earned in your term deposit may be subject to risk if between the time that you invest and the time that you receive payment the foreign currency has declined in comparison to the Canadian dollar. You may choose to rollover your foreign currency term deposit upon maturity and receive the prevailing rate at the time of renewal. Should you choose a payout, there are a variety of options available to you: if a corresponding foreign currency savings account exists, the matured term deposit can be deposited into such account; or you can have a bank draft issued in the foreign currency amount; or convert the term deposit amount into Canadian dollars and deposit it into the corresponding deposit account with HSBC Bank Canada; or convert the term deposit amount into a foreign currency for which HSBC Bank Canada offers a savings account (for example US dollar accounts) and deposit it into such account.

 

Foreign Currency Term Deposit

GUARANTEED RATE

VARIETY OF TERMS

DAILY INTEREST

NON-REDEEMABLE

Full details
Key features and benefits
  • Earn guaranteed rates on your foreign funds
  • Choose from major currencies including Australian dollars, Euros, Hong Kong dollars, Great Britain Pounds and Renminbi*
  • Choose from a range of terms from 30 days to 1 year
Additional details
  • CAD $50,000 equivalent minimum investment
  • For Renminbi, CAD $5,000 equivalent minimum investment
  • Interest calculated daily, not compounded, and paid at maturity
  • Non-redeemable
  • Not eligible for CDIC Insurance1

Rates are subject to change without notice. For information and to confirm most recent rates, please contact any HSBC branch.

Need help?

Call toll-free
1-888-310-4722

Find a branch


1Canadian Deposit Insurance Corporation
Some HSBC accounts and deposit products up to certain dollar amounts are eligible for insurance under the Canada Deposit Insurance Corporation Act (CDIC). Learn more about CDIC and how CDIC Deposit Insurance works:
● Visit http://www.cdic.ca/home/Pages/default.aspx
● Read "Protecting Your Deposits." Visit CDIC to download or contact our Internet Banking Support at 1-877-621-8811 to request a copy
Please note some products, such as foreign currency accounts, are not eligible for CDIC Deposit Insurance.

* Cash deposits or withdrawals are not permitted on the Renminbi Account. All remittances must be electronic into a deposit account and any transfer in and out of the deposit account may be subject to a transfer fee. Please refer to the Personal Service Charge Brochure for details.

The principal and interest earned in the term deposit will be subject to changes in currency-exchange rates if you plan on converting into or out of a foreign currency at maturity. For example, if you plan on converting your term deposit into Canadian dollars at the end of the term, the principal and interest earned in your term deposit may be subject to risk if between the time that you invest and the time that you receive payment the foreign currency has declined in comparison to the Canadian dollar. You may choose to rollover your foreign currency term deposit upon maturity and receive the prevailing rate at the time of renewal. Should you choose a payout, there are a variety of options available to you: if a corresponding foreign currency savings account exists, the matured term deposit can be deposited into such account; or you can have a bank draft issued in the foreign currency amount with the exception of Renminbi currency. For Renminbi Term Deposits, deposits and withdrawals of Renminbi in cash and bank draft are not allowed. Transfer of funds in and out of the Renminbi Term Deposits are required to process via a deposit account, e.g. a Renminbi savings account or a Canadian savings or chequing account. Funds in Renminbi can be transferred in to a Renminbi savings account through wires or inter-account transfers; or convert the term deposit amount into Canadian dollars and deposit it into the corresponding deposit account with HSBC Bank Canada; or convert the term deposit amount into a foreign currency for which HSBC Bank Canada offers a savings account (for example US dollar accounts) and deposit it into such account.

 

TFSA Term Deposits

TAX-FREE DAILY INTEREST

COMPETITIVE RATES

SECURE

REDEEMABLE

Full details
Key features and benefits
  • Earn tax-free interest on your deposit so your money grows faster1
  • Receive a competitive interest rate
  • Have the flexibility to redeem prior to maturity2
  • Choose short or long terms, from 30 days to 5 years
Additional details
  • $1,000 minimum for annual or semi-annual interest payments
  • $5,000 minimum for monthly or at maturity interest payments
  • Interest calculated daily, not compounded, and paid at your chosen interval3
  • If redeemed prior to maturity, no interest is paid2
  • Automatic renewal option4
  • Eligible for CDIC Insurance
Need help?

Call toll-free
1-888-310-4722

Find a branch


1 Only Canadian residents, who are over 18 years of age and have a valid Social Insurance Number, can make contributions to a Tax-Free Savings Account (TFSA). The age of majority is 19 for residents of Newfoundland & Labrador, New Brunswick, Nova Scotia, British Columbia, Northwest Territories, Yukon and Nunavut, which may delay the opening of a TFSA. However, the accumulation of contribution room will start at age 18. Annual contributions to TFSAs are subject to specific limits. Generally, the maximum contribution room for a year is equal to the total of unused TFSA contribution room from previous years, distributions (withdrawals) from TFSAs made in previous years and the TFSA dollar limit for the year in question. As of 2016, the annual TFSA dollar limit is $5,500 (previous annual limits were $5,000 for 2009 to 2012, $5,500 for 2013 to 2014, and $10,000 for 2015). The maximum annual contribution applies to all of your TFSAs held with HSBC or any other financial institution. The Canada Revenue Agency (CRA) will track your contribution room. The CRA reports this amount to individuals through the “My Account” function on the CRA web site (www.cra.gc.ca/myaccount). Provided that contribution limits are not exceeded and contributions are made while the account holder is a resident of Canada, income earned in a TFSA is generally not subject to Canadian taxes. Taxes of other countries may apply. Excess contributions to your TFSA are subject to taxes, interest and penalties. Unlike an RRSP, any money you contribute to a TFSA will not itself be tax-deductible.

The content herein is not intended to provide specific tax advice and should not be relied upon in this regard. HSBC makes no guarantee, representation, or warranty and accepts no responsibility or liability as to the tax treatment of these services. For full details about TFSAs and how they relate to your own income tax and financial situation, please consult your personal tax advisor.

2Redeemable prior to maturity with no interest paid.

3Interest is calculated daily, not compounded, and is paid at the interval as opted by you (which may be monthly, semi-annually, annually or at maturity).

4You can opt into our automatic renewal option when purchasing your term deposit. If you don’t notify us before maturity, we will automatically re-invest your deposit (either the principal only or principal and any interest earned) at the interest rate applicable on the date of renewal, to help maximize the growth of your savings. Consult your HSBC branch regarding any eligibility &/or restrictions with setting up an automatic renewal option on your term deposit(s).

The content herein is not intended to provide specific tax advice and should not be relied upon in this regard. HSBC makes no guarantee, representation, or warranty and accepts no responsibility or liability as to the tax treatment of these services. For full details about TFSAs and how they relate to your own income tax and financial situation, please consult your personal tax advisor.

 

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