HSBC in Qatar Free Essay Example, 1000 words

d) Current account-This account is available in Premier, Advance and Basic current account. The Premier account is available in Qatari Riyal, Pound Sterling, US dollars and Euro and allows you to have a dedicated relationship manager who helps in maximizing your money and spots appropriate investment opportunities. The Advance current account offers a banking account available in US Dollar, Qatari Riyal, Pound Sterling and Euro. It also gives a team of relationship managers who assists in maximizing your money and spots appropriate investment opportunities. The HSBC basic current account offers no monthly charges or minimum balance. e) Interest rate-The HSBC interest rates varies with the type of product, time and the period. All the credit cards attract an interest of 1%. Most loans attract a competitive interest rate which is globally accredited. f) Savings plan-HSBC offers a savings account for this purpose. The HSBC savings account is quite secure and is a flexible way for savin g for the things that are crucial to you. It offers competitive interest rate and immediate access to your savings. The savings account offers a free debit card and cash withdrawal, no minimum monthly balance requirement, a wide range of currencies, 24/7 banking to suit customer’s needs available on such platforms as free internet banking, mobile banking, phone banking and SMS alerts. We will write a custom essay sample on HSBC in Qatar or any topic specifically for you Only $17.96 $11.86/pageorder now The interest is calculated and accrues monthly on the minimum daily balance and is paid half-yearly. g)loan provisions-there are several loan provisions which includes overdrafts that allows for borrowing of the equivalent of one’s monthly salary up to a maximum of QAR 60,000.It allows easy application process, competitive interest rates and is renewable every year. There are also personal loans that offer reduced interest rates starting as low as 4.99% p. a and high loan amounts of up to QAR 700,000/ for Qataris and QAR 350,000/ for expatriates. The personal loan has got flexible repayment tenors of up to 72 months and 48 months for expatriates. The other loan provision is that of HSBC’s asset link gives you attractive interest rates, the ability to borrow up to 50%(HSBC investment products), 80%(other major currency term deposits), 90%(Qatari Riyal term deposits) of your HSBC assets. g) Security and safety-The HSBC advises its customers use secure logins every time they log in, that they use state of the art encryption technology and lastly use of firewalls to prote ct systems that are set up between the systems and internet.