Product Overview
Unlock the potential of your fixed deposit
HSBC's Smart Money facility is a secured facility, where you can pledge your fixed deposits as security and utilize up to 90% of the value of your fixed deposits as either an overdraft or an installment loan.
Smart Money lets you enjoy the benefits of your time deposits, while giving you access to cash anytime you need it. Your Time Deposit will continue to earn interest while up to 90% of the time deposit value can be in your pocket through an overdraft or a loan.
Benefits of Smart Money
- Withdraw up to 90% of your time deposit value
- Secured Overdrafts
Pay only what you use (Only pay interest on what you utilize out of your secured overdraft limit. There will be absolutely no interest charged if you do not draw on your credit reserve)
By placing new time deposits, you can increase the overdraft limit on Smart Money at any time.
- Attractive interest rates compared to unsecured lending facilities
- Secured Installment Loans
Select a repayment period of up to 3 years if you chose an installment loan.
Option of repaying the loan based on a reducing balance or an equal installment scheme
Eligibility criteria for Smart Money
You're eligible to apply for HSBC's Smart Money facility if you are:
- Between 18 and 60 years of age
- Sri Lankan citizen/residence visa holder residing in Sri Lanka
- New or an existing HSBC customer with a minimum fixed deposit amount of LKR100,000/- or the equivalent in foreign currency amount at any HSBC local branch
- Income earning currency is Sri Lankan Rupee
How to apply for Smart Money
To obtain this facility please visit one of our branches or speak to your relationship manager. Your application should be processed within 24 hours.
Smart Money Rates
Floating interest rates are subject to change in line with market rates. General terms and conditions will apply.