Foreign Currency Fixed Deposit Accounts

HSBC MU
Accounts
Foreign currency fixed deposit

Save and grow your foreign currencies in a simple, safe and convenient way.

Available in selected major foreign currencies: Australian Dollar (AUD), Canadian Dollar (CAD), Euro (EUR), Renminbi (RMB), Hong Kong (HKD), Pound Sterling (GBP), South African Rand (ZAR), and United States Dollar (USD).

Check eligibility and how to apply anchored to eligibility section on current page View interest rates find out more about Tariff and Rates

Start saving from a minimum deposit balance of 10,000 units to earn higher interest rates which may be offered on selected currencies.

Avail to preferential rates based on your deposit amount and term.
Grow your foreign currencies safely by protecting your finances against exchange rate fluctuations.
Choose how long you wish to put your currency aside: 3, 6 or 12 months and know how much you'll end up with right from the start with guaranteed return payable at maturity.

Renew your fixed deposit

You may:

opt for automatic renewal, or
provide instruction to transfer your funds upon maturity to your foreign currency account from the start.

If you choose automatic renewal, the prevailing fixed deposit interest rate on the date of maturity will apply and keep your savings growing.

You can also update maturity instructions either through Internet Banking or at your branch 3 days prior to the maturity date. Note however that your fixed deposit can be renewed up to a period not exceeding 7 years after original maturity date.

In case, no instructions have been provided at maturity (i.e. for renewal of the fixed deposit or transfer of funds to your foreign currency account), the current savings rate (if any) will then be applied.

Withdrawal of fixed deposit before maturity

You can withdraw before term. Note that a penalty fee will apply as per tariff of charges. Please contact us.

Eligibility

Available to

Individuals aged 18 years and above
Account for minors must be operated by the parent or an authorised person
Account can be opened for individual(s) (sole or joint)

For joint accounts, a joint mandate must be completed and signed by all parties.

Documents required to open account

Proof of identity – Mauritian identity card or passport
Proof of address –Latest utility bill, either Central Electricity Board, Central Water Authority, or Mauritius Telecom bill
For minor accounts – birth certificates will be required
Evidence of source of funds may be requested for large cash deposits

For expatriates

Bank statements for the last 3 months
Proof of work permit
Foreign nationals should produce a letter of reference from their main overseas bank

*Disclaimer: Exchange rates fluctuate on a daily basis and this will directly impact the relative value of the deposit which will either increase or decrease in value accordingly. We are not in an advisory function, hence, we do not provide any forecasts on currencies. Currencies future trends and past performances are not an indication of future performances (exchange rates). The customer is solely responsible for making its own independent appraisal this product.