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Revision of HSBC Advance eligibility criteria
Dear Customer,
HSBC Advance is more than just a basic bank account.  It not only helps you plan for your financial future and manage your money more efficiently but also endeavors to assist you in wealth accumulation1.
We would like to inform you that the HSBC Advance eligibility criteria and the service charges towards non maintenance of the HSBC Advance eligibility criteria in India, is being revised with effect from 1 July, 2011
To qualify for HSBC Advance in India, you would need to meet any one of the following criteria on a continuing basis -
1. Maintain a  Total Relationship Balance (TRB)2 of Rupees 3 lakh (Rupees three lakh only) in a combination of savings account balances, term deposits, holdings in Demat account held with HSBC India, investments1 and life insurance3 through HSBC India including a minimum average quarterly balance of Rupees 50,000 in the HSBC India Advance savings / current account OR
2. Have a Mortgage relationship4of Rupees 15 lakh (Rupees fifteen lakh only) or more with HSBC India OR
3. Hold a Corporate Salary Account under HSBC's Corporate Employee Program in India, with a net monthly salary credit of Rupees 50,000 (Rupees fifty thousand only) or more5 into the account.
Incase of not meeting the above mentioned eligibility criteria a service charge of Rupees 1500/- per calendar quarter would be levied.
We would also like to take this opportunity to reiterate the key benefits of HSBC Advance:
1. Customized Day to Day core banking
Alongside the benefits of a savings account and priority servicing at branches, we also offer you a suite of investments1 & insurance products3 and preferential lending rates on home loans6 . The HSBC Advance Platinum Debit Card7 offers unlimited ATM transactions8 at all VISA ATMs in India.
2. Lifestyle Protection
You can access a range of insurance products that assist you in meeting your financial needs, including planning for retirement. The Advance Protection Plan from TATA AIG9 is a unique bundle available exclusively to HSBC Advance customers that helps protect household contents from natural and man-made disasters, burglary and theft along with a personal accident cover and key replacement cover.
3. Fast Track Wealth Accumulation1
You have access to a team of certified and accredited Wealth Managers - HSBC Advance who can suggest to you suitable investment products of various Asset Management Companies (AMCs) based on your individual financial needs and circumstances
4. International Services10 on Demand
You have access to a range of International Services which include assistance towards pre- opening overseas HSBC accounts11and access to Emergency Encashment Assistance12 in select countries. Manage your finances with Global View services which allow you to link and manage your accounts held with HSBC across countries in a single window with a single login.
In case of any further clarifications that you may require, please feel free to contact our HSBC Advance Phone Banking numbers or visit your nearest HSBC Branch in India. We thank you for your relationship, and hope that you will continue to make the most of what HSBC Advance has to offer.
Sincerely,
Sanjay Nair
Sanjay Nair
Head – Customer Propositions,
Retail Banking and Wealth Management
Important Notes
1Investments and services are subject to prevailing market conditions / external factors. The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India) currently offers Investment Products from entities registered and regulated in India. These products are currently not available to HSBC Advance NRI customers residing in US, Canada, Australia and New Zealand. HSBC Advance NRI customers residing in countries like United Kingdom, Singapore, and Hong Kong will be able to invest in these products through HSBC India when they are physically present in India.
2 *Calculation of TRB - Following will be included for calculating the TRB
1. Savings account balances - Calculated basis Average Quarterly Balance held in the savings account
2. Term deposits - Calculated basis Average Quarterly Balance held in term deposits.
3. Investments through HSBC India - Calculated basis Market Value or Net Purchase Value whichever is higher as on the last day of every calendar month.
4. Life insurance premium - Calculated basis Life to date (total) paid up premium for policies in force as on the last day of every calendar month.
Insurance is a subject matter of solicitation.
5. Demat holdings - Calculated basis Market Value of Holdings in HSBC India Demat account as on the last day of every calendar quarter.
3 HSBC India is a corporate agent (License Number 961387) of Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited which offers and underwrites life insurance products. Insurance is the subject matter of the solicitation
4 Service charges related to non-maintenance of required TRB will be waived for the HSBC Advance account in India which is linked to your mortgage relationship towards servicing the mortgage EMI. This waiver will be valid throughout your mortgage relationship with HSBC India. Pursuant to the termination of the mortgage relationship, the TRB requirements of HSBC Advance account will apply as per the applicable rules of HSBC India.
5 Please note that waiver of charges related to non-maintenance of required TRB will be subject to you being an employee of the Corporate and your account receiving a net salary credit of greater than or equal to Rupees 50,000 for three consecutive calendar months. In case you do not meet this requirement, the account shall get redesignated to a regular HSBC Advance Account and the TRB requirements of HSBC Advance account in India will apply as per the applicable rules of HSBC India.
6 All loans are subject to terms and conditions and are at the sole discretion of HSBC India. For detailed terms and conditions, visit hsbc.co.in
7 The usage of the HSBC Advance Platinum Debit card is governed by applicable terms and conditions. Refer HSBC Advance Debit Card User Guide for details.
8 A transaction fee is applicable for withdrawals from any ATM outside India. All cash withdrawals overseas must be strictly in accordance with the Exchange Control Regulations of the Reserve Bank of India. The aggregate expenses (i.e. through cash/traveller's cheques/your bank accounts) should not exceed the limit set by RBI, as prevailing from time to time. Per transaction limit for cash withdrawal at other bank ATMs in India is Rupees 10,000.
9 Insurance is the subject matter of the solicitation. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. This policy is underwritten by Tata AIG General Insurance Company Ltd. (Tata AIG), whose registered office is at Peninsula Corporate Park, Nicholas Piramal Tower, 9th Floor, Ganpatrao Kadam Marg, Lower Parel, Mumbai-400 013. This information is given by The Hongkong and Shanghai Banking Corporation Limited (HSBC India), India whose registered office is at 52/60, M.G. Road, Fort, Mumbai-400 001, and which is a group policy administrator for this particular policy. HSBC India does not accept any responsibility for Tata AIG's actions or decisions. Conditions apply. Please refer to the policy wordings for more details.
10 We wish to inform you that availing of the International Services facility for HSBC Advance requires HSBC India to share information with HSBC Group (HSBC Holdings plc, its subsidiaries, associated and affiliated companies) relating to you/your accounts including without limitation, any personal information and other credit information maintained with or obtained by HSBC India (including those obtained from credit reference agencies) and other members of the HSBC Group.
11 Applicable in countries or locations where HSBC Advance is offered. HSBC provides assistance towards opening / placing of HSBC deposit account overseas where HSBC Advance is offered. Opening/placing of such bank accounts / deposits will be at the sole discretion of the overseas HSBC entity and will be subject to local Terms and Conditions and prevalent laws and regulations of the country where the bank account/deposit will be opened/placed. The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India) is neither responsible nor shall be held liable for any rejection of the application for placing of deposits / opening of accounts.
12 You may borrow maximum up to USD 10,000 upon application and assessment by HSBC. Funds will only be provided in countries where HSBC is located and where you present adequate identification (such as your Passport). Any funds made available by HSBC India are provided subject to terms and conditions and is subject to legal and regulatory requirements. Terms and conditions apply. Emergency encashment service is subject to laws and local regulations.
Issued by The Hongkong and Shanghai Banking Corporation Limited, India. Incorporated in Hong Kong SAR with limited liability.
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