HSBC – Advance Account
Minimum Salary
AED 0
Currencies
AED, GBP, USD
Feature
Free Cash Withdrawals, Free Cheque Book, Free Credit/Debit Card, Internet banking, Multiple Currencies, Savings Account

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Get AED 1,500 Cashback with HSBC Advance Account

Receive AED 1,500 cashback when you open a new HSBC Advance Account. Terms and conditions apply. This offer ends on June 30, 2023.

Eligibility Criteria

To qualify for an Advance account, you need to meet one of the following criteria:

  • Transfer a minimum monthly salary of AED 15,000 to an HSBC account, or
  • Maintain a minimum monthly average balance of AED 100,000 in deposits and/or investments (or equivalent in foreign currency).

Benefits

  • Fee-Free Cash Withdrawals: No charges for cash withdrawals at any bank ATM across the UAE and GCC.
  • Preferential Loan Rates: Enjoy better rates on personal loans.
  • Instant International Transfers: Make instant international fund transfers through online and mobile banking via Global View and Global Transfers between your global HSBC accounts without any fees.
  • Global Emergency Cash: Access up to USD 10,000 in emergency cash from any HSBC branch worldwide if you lose your wallet while traveling, with no fees.
  • Discounted International Account Opening: Get a 50% discount on the processing fee for opening an international HSBC account.
  • Multi-Currency Current Account: Current account available in AED, USD, GBP, and EUR.
  • Overdraft Facility: Access an overdraft of up to 2 times your salary or AED 30,000 (whichever is lower) with no fees and no interest on the first AED 2,000.
  • Airfare Discounts: Enjoy up to 10% off British Airways airfares when you book with your HSBC Advance Debit Card.
Calculator Terminology

Principal Amount: The initial amount of money borrowed.

Annual Interest Rate (%): The yearly interest rate applied to the loan or credit product, also known as APR in this context.

Loan Term (Years): The original duration of the loan or credit agreement, stated in years.

Effective Monthly Payment: The total monthly payment that accounts for all fees and associated costs related to the product.

Calculated Annual Percentage Rate (APR): The APR is computed using the annual interest rate along with fees and other expenses. It serves as a standardized measure for comparing the overall cost of different products with varying interest rates and fee structures across different financial institutions.

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