Fixed Rate Saver

No, once your account is opened the rate will stay the same for the duration of your fixed term.

• initial deposit of £2,000, £50,000 or £250,000
• no further deposits
• no withdrawals
• no change to the interest rate during the fixed term

To open a Fixed Rate Saver, you must:

• be aged 7 years or over (if you're under 16 you'll need your application signed by a parent or guardian)
• have an HSBC current or savings account (excluding an ISA, Regular Savings Account or Basic Bank Account) which you must maintain for the duration of the fixed term

You can open:

• a sole account via online banking, telephone banking or in branch
• a joint account via telephone banking or in branch

Your Fixed Rate Saver deposit will be transferred from your nominated HSBC account, please ensure that the funds are available.

You can only make one deposit into your Fixed Rate Saver which you'll make when you open the account. 

You can deposit a minimum of £2,000, and there's no maximum deposit.

Once your account is open, you can view your balance in online banking. You can manage the account further using phone banking or in branch.

If you deposit £50,000 or more you can't close the account or withdraw any money until the end of your fixed rate period.

If you deposit less than £50,000 you can withdraw all of the money and close the account early, for a fee of 90 days interest. You can't withdraw part of the money.

At the end of the fixed rate period your account will be closed and your funds and interest will be paid into the account they came from, unless you have asked us to reinvest some or all of your funds.

There is no cancellation period with a new Fixed Rate Saver. However, a 14 day cooling off period does apply for reinvestments.

We do not deduct tax from any interest paid to you.

Your eligible deposits with HSBC Bank plc are protected up to the limit of your local Compensation Scheme.

Definitions

• AER stands for Annual Equivalent Rate. This shows you what the gross rate would be if interest were paid and compounded each year.
• Gross is the rate of interest if interest were paid and not compounded each year

Information correct as of 8 November 2024

To apply over the phone, call us on

03456 00 61 61

Our lines are open 07:00 to 21:00 every day.

If you're opening a joint account, or prefer to complete your application with one of our team, you can book an appointment at your nearest branch. You’ll need to bring identification, proof of address and a recent bank statement.

Book an appointment

Or, book an appointment over the phone on:

03456 00 61 61

Our lines are open 07:00 to 21:00 every day.

We offer tiered rates of interest depending on your deposit and term. Your rate is fixed for the whole term. Interest is calculated daily and credited monthly, annually or at maturity. 

Fixed Rate Saver accounts are designed to be held for the whole term, and you should plan to not access your money during that time.

There’s no cooling-off period when you open a Fixed Rate Saver Account for the first time.

If you change your mind and ask for your money back after you’ve opened the Fixed Rate Saver Account, what happens will depend on how much money is in the account:

Partial withdrawals are not available.

Unless you tell us otherwise, your deposit and any interest will be paid into the account that you originally used to open the Fixed Rate Saver.

Alternatively, you could choose to reinvest your deposit, the interest it has earned, or both. Find out more about reinvesting.