TFSA Back to School Offer

Receive a limited time special rate of 2% per annum on 18-month redeemable TFSA term deposit when you contribute to your TFSA.


Offer details: 2% 18-Month TFSA Redeemable Term Deposit

  • Promotion period: August 14, 2017 to September 29, 2017.
  • Minimum deposit of $1,000 CAD.
  • Interest is calculated daily, is not compounded and is paid annually.
  • The deposit must be made and the confirmation issued during the promotion period and be in Canadian currency.
  • Any redemptions or withdrawals of all or portion of the deposit prior to the end of the 18-Month term is allowed. If you withdraw prior to the end of the term, we will not pay you any interest on the withdrawn amount.
  • Funds must come from a source other than TFSA plans and accounts with HSBC Bank Canada or any of its subsidiaries (such as Mutual Funds TFSA and HSBC InvestDirect TFSA). Transfers from all other accounts with HSBC Bank Canada and its subsidiaries and funds transferred to an HSBC TFSA savings account from a TFSA in another financial institution on or after August 14, 2017 are eligible for the offer.
  • The deposit must be made in branch or by telephone. This offer does not apply to deposits made through Online banking.
  • We may change, withdraw or extend this offer at any time without notice.

Read the Terms and Conditions for full details.


Offer Details: Transfer-in Bonus up to $150

  • Promotion period: August 14, 2017 to October 31, 2017.
  • Earn a transfer-in bonus (up to a maximum of $150) in the amount of 1% of the aggregate of all amounts transferred during August 14 2017 until October 31, 2017 to the TFSA plans that you hold in HSBC Bank Canada from TFSA plans held in another financial institution.
  • Transfers into Mutual Funds or HSBC InvestDirect TFSAs are excluded.
  • One bonus per customer.
  • This offer is available in branch only.
  • To qualify for the Bonus, you must sign and submit a TFSA Transfer Form at any of our branches from August 14, 2017 to October 31, 2017.
  • We may change, withdraw or extend this offer at any time without notice.

Read the Terms and Conditions for full details.


Learn more about TFSAs

Learn more about TFSA Redeemable Term Deposits

Contribute to your TFSA today.

Call:

1-888-310-4722

Visit a branch near you.

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Terms and Conditions apply.

What is a down payment and how much do I need to buy a home?

A mortgage down payment is the amount of money you have saved to purchase your home. You can have as little as 5% of the purchase price amount for a down payment to qualify for a mortgage.

Calculate your mortgage payments

If you are a first-time homebuyer, you may be able to use your RRSP for a down payment.

Learn more

What is amortization and a mortgage term?

Amortization is the estimated number of years it will take to pay off your mortgage. Amortization periods range up to 30 years. The longer your amortization is, the lower your mortgage payments will be, but the higher the total amount of interest you'll pay over the life of the mortgage.

A mortgage term is the length of time you agree to a specific mortgage interest rate and a set payment schedule. A mortgage term can range from as little as 6 months to as long as 10 years. At the end of a term, you can agree to a new interest rate and payment schedule (renew the mortgage), or you can pay off your mortgage in full.

You may have several mortgage terms during the amortization period.

What's the difference between a fixed rate mortgage and a variable rate mortgage?

A fixed rate mortgage allows you to lock in a specific annual interest rate for a certain period of time, known as the term. Terms range from 6 months to 10 years. The interest rate and the payments on the mortgage remain the same for the length of your term. As you make payments and the principal amount is reduced, more of the mortgage payment is applied to the principal and less of the payment is applied to the interest. Because the interest rate does not change throughout the term, you know in advance the amount of interest you will pay and how much principal you will owe at the end of your term.

With a variable rate mortgage, the annual interest rate is based on the Bank's Prime Rate plus or minus a specified percentage. The interest rate changes with the Bank's Prime Rate. Variable mortgage terms range from 3 or 5 years. The regular mortgage payment is a fixed amount. As interest rates fall more of the payment is applied to the principal, and as rates rise, more of the payment is applied to the interest. The regular mortgage payment may be adjusted if the amount of your payment is not enough to cover the interest portion of the payment. Because the interest rate changes, it is not possible to know in advance how much interest you will pay and how much principal you will owe at the end of your term. You can convert a variable rate mortgage into a fixed rate mortgage of the same or longer term at any time during your term without additional cost.

My mortgage is up for renewal, what should I do?

This means that your mortgage term has come to an end and you can renegotiate for a new interest rate, term, and payment schedule. This is also the time to make a larger payment (lump sum payment) without pre-payment penalties on your mortgage to help pay it off sooner.

  • New to HSBC? Call an HSBC mortgage advisor at 1-888-310-4722 or visit your local branch
  • Already an HSBC client? You may be eligible for a preferred rate as an HSBC Premier1 or HSBC Advance2 client.

Learn more about HSBC Premier
Learn more about HSBC Advance

Call 1-888-981-4722

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