Currency Interest Rates

Currency Rates* for International Business Overdrafts

Currency Country Reference Rate* Rate as at
06/09/2019
Availability
Business Corporate
EUR Eurozone

European Central Bank Main Refinancing Rate

0%
USD

USA

Mid-Point of FED Target Range

2.125%

CHF† Switzerland Swiss National Bank 3m LIBOR target (midpoint) 0%
CZK Czech Republic Czech National Bank Discount Rate 1.00%

 

*The Currency Rates in this table show the rates of interest you would pay (as at the stated date) excluding a margin to be agreed with the Bank, if you borrowed sums using an arranged International Business Overdraft for the stated currencies. The rates in this table are Reference Rates, which means the rates are linked directly to the publicly available external benchmark rates. A benchmark rate is the published market rate from time to time as set by a third party institution (such as the European Central Bank) rather than by HSBC.

The current benchmark rate* for HSBC International Business Overdrafts denominated in EUR, USD, CHF or CZK are listed in this table. Consistent with the terms of the product, where the benchmark for any Reference Rate falls below 0%, the Reference Rate will be deemed to be 0%. Reference Rates where this is currently the case are marked in this table with the symbol (†).

HSBC Currency Base Rates** available to Corporate customers

Currency Country HSBC Currency Base Rate** as at 06/09/2019
AED United Arab Emirates (UAE) 2.15%
AUD Australia 1.11%
CAD Canada 1.75%
CNY China 3.21%
DKK Denmark 0.05%
HKD Hong Kong 0.63%
HUF Hungary 0.90%
ILS Israel 0.30%
JPY Japan 0.00%
MXN Mexico 8.51%
NOK Norway 1.42%
NZD New Zealand 1.18%
PLN Poland 1.70%
QAR Qatar 2.50%
RON Romania 4.53%
RUB Russia 7.53%
SAR Saudi Arabia 2.73%
SEK Sweden 0.00%
SGD Singapore 1.76%
TRY Turkey 19.62%
ZAR South Africa 6.98%

 

**HSBC Currency Base Rates are the rates of interest you would pay (as at the stated date) excluding a margin to be agreed with the Bank if you borrowed sums using an arranged International Business Overdraft for the currencies listed in this table. HSBC Currency Base Rate are interest rates set by HSBC, rather than by an external third party institution.

Overdrafts in these currencies are not available to Business Banking customers.

Notes

  • The Reference Rates and HSBC Currency Base Rates stated on this page were correct as at 06/09/2019. These rates are variable and can change from day to day – so the rates stated above may not be the current rates applied to your account. Please speak to your Relationship Manager to find out the current HSBC Currency Base Rate for any of our currencies. The information on this website will be updated on a frequent basis.
  • Business Banking customers can apply for an International Business Overdraft in EUR and USD. Corporate customers can also apply for International Business Overdrafts in the other currencies listed above. International Business Overdrafts are not presently available in any other currencies.
  • If you are an existing customer and are unsure whether you are a Business Banking or Corporate customer, please contact your Relationship Manager who will confirm this for you.
  • Where you have agreed a formal International Business Overdraft with us, the rate you pay for borrowing up to your agreed limit will be your agreed margin plus the relevant Reference Rate or HSBC Currency Base Rate (as applicable). Where we permit an informal overdraft in a foreign currency, the rate you will pay will be our Currency Standard Debit Interest Rate, unless otherwise agreed with you. For the current rate, please see our Business Banking Price List, click here.
  • Any change to Reference Rates will be applied to the International Business Overdraft the business day after the Currency Rate is changed.
  • We reserve the right to change HSBC’s Currency Base Rate at any time, please contact your Relationship Manager if you need further clarification on HSBC’s Currency Base Rate.
  • The Bank may refuse a request for a withdrawal from an International Bank Account which would cause that account to become overdrawn or further overdrawn if the Bank determines that deposits in the relevant currency are not available to it.
  • The HSBC Currency Base Rates are variable rates set at the discretion of HSBC and on the basis of a number of different factors and inputs determined by HSBC. They are‎ made available to customers of HSBC with reference solely to facilities provided by HSBC to those customers. Use by any other party for any other purpose is expressly prohibited.
  • Obtaining credit in a foreign currency exposes you to an inherent risk of exchange rate fluctuations. The domestic (i.e. Sterling) equivalent value of your borrowings in a foreign currency will increase if the value of Sterling falls against the foreign currency. This may affect your ability to repay your borrowings. Borrowings must be repaid in the same currency in which the credit is provided.

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