Overdraft

HSBC offers Overdraft Facility to HSBC Premier customers who fulfill all the following requirements:

• Customers who have applied for this service
• Deposit JPY10,000,000 or more to the HSBC Premier Account within 3 months after it is opened
• Age between 20 and 75 years old at the time of Application

Overdraft Facility

• Product Fact Sheet-Overdraft Facility

The Overdraft offers service from JPY1 up to JPY500,000, with no fixed term for the service. It is accessible through the Yen Savings Account of the HSBC Premier Account.

Overdraft Interest Rate
The interest rate for Overdraft is a floating rate (it changes at the Bank’s discretion).
For current interest rates, please enquire our staff at any of our HSBC Premier Centres or HSBC Premier Call Centre.

Calculation of Overdraft Interest
Calculation of the Overdraft interest shall be made each month-end for a unit of one Yen (JPY1), based on the Overdraft balance from the 1st day until the last day of the preceding month. If the last day of a month falls on a holiday, the day prior to the holiday will be applied. The interest is calculated based on a year of 365 days.

Payment of Overdraft Interest
Overdraft interest for a calendar month will be automatically charged, on the Interest Payment Day which is the 1st business day of the following calendar month (it will be processed after the close of business of such Interest Payment Day), to the Yen Savings Account of the Customer's HSBC Premier Account. If the available balance in such Yen Savings Account on the Interest Payment Day is less than the overdraft interest amount charged, the amount of such shortfall will be added to the principal of the overdraft on the Interest Payment Day.

Repayment of Overdraft Balance
All funds credited to your Yen Savings Account shall automatically repay the overdraft balance.

The Bank may grant a temporary unauthorized overdraft exceeding your authorised limit amount when your Yen Savings Account balance (including the overdraft balance) is insufficient to meet the stated payment amount on the payment date of the overdraft interest or your HSBC Premier Credit Card.

You shall immediately repay the Bank the unauthorized overdraft balance which exceeds the overdraft limit, irrespective of whether such request has been made by the Bank.

If there is no repayment made to the Bank, the Bank may at anytime suspend your HSBC Premier Account activity.

The unauthorised overdraft interest rate equals the Overdraft Interest Rate + 6% p.a., which may change when the Overdraft Interest Rate is changed.