HSBC fixed deposit

Author	Message
Written on: 09.01.2010 [18:33]
Black Topic creator Posts: 3	I have a HSBC fixed deposit account but I am in desperate need of money due to a family problem and I will need to close the account. I know that you usually don’t get the rate you signed up for if you closed fixed rate term accounts earlier than their maturity date but I was wondering whether I will also have to pay a penalty? Someone I know mentioned that I would have to but I thought that the penalty was that I wouldn’t get the interest I was expecting, is this not true?
Written on: 14.01.2010 [19:00]
Renee Renee Posts: 1	Early encashment of fixed deposit accounts are always subject to penalties charged by the company that accepted the fixed deposit.
Also very interesting: Who offers the best internet savings accounts? How does investment account interest work? What is the best savings/investment plan for long term investment? Help with saving account comparison! Who is offering the best saving rates? Are interest rates on savings accounts variable? No fuss savings accounts & best rates for regular saving? Rather investment savings accounts than investing in property? Best investment savings rates for children’s accounts? Any help regarding Investment savings plan?
Written on: 17.01.2010 [08:37]
Linda Linda Posts: 4	I am not sure, I mean it makes sense what you are saying that if you are going to lose out on the interest then I would have thought that is enough, as it is the same that yu would have gotten if you had opened a normal account.
Written on: 17.01.2010 [16:37]
Elsbeth Elsbeth Posts: 2	Yeah but maybe that is the point, “if you had have opened a normal account” but you didn’t so there should be a charge as the bank were expecting to have your money for that amount of time and it will inconvenience them also.