HSBC removes preferential safe deposit box fee for non-Premier customers

Singapore

SOME non-Premier account holders of HSBC are upset over the bank's plan to lift its 50 per cent preferential rate to rent a safe deposit box. This means a 100 per cent hike for such customers in the annual rental fee which for the largest box works out to S$856 inclusive of Goods and Services Tax.

Premier account holders are those who have at least S$200,000 with the bank or a minimum S$800,000 property loan.