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Fixed Rate Saver

Plan ahead with confidence


Make your money work hard for you and know exactly what you’ll get. Choose a term, deposit a minimum of £2,000 into your Fixed Rate Saver and earn interest at a great fixed rate. 

Key Benefits

  • Choose how long you save
    Choose from five deposit terms, ranging from three months to three years, and deposit anything from £2,000
  • Get a great interest rate
    Earn between 0.30% AER/gross and 1.10% AER/gross depending on amount invested and term chosen 
  • Set up savings for a child
    Anyone eligible to open a Fixed Rate Saver may also open an account in branch on behalf of a child, providing the child is at least seven years of age
  • Reinvest your savings
    Before the end of the term, we'll ask if you want to withdraw your money, start a new Fixed Rate Saver or discuss your options 
  • Know exactly what you'll get
    Your interest rate remains fixed throughout the term, so you know in advance exactly how much interest you'll earn.  
  • Close early if you need to
    Provided the deposit is under £50,000 you can close the bond early for a fee of 90 days interest. Depending on when the withdrawal is made, you may get back less than originally invested. If the deposit is over £50,000 you can't close your bond or withdraw any money until the end of the deposit term. 

 

Are you eligible?

  • Aged 7 years or over
  • Have an HSBC current account or savings account (excluding a Regular Savings Account or Basic Bank Account) which you must maintain for the duration of the fixed term
  • If you are aged between 7 years and 15 years you will need your application signed by a parent or guardian
  • If you are aged 18 years or over, you may also open a beneficiary account for a child providing you also hold a Future Saver for Children in the same names. This can only be opened in branch.

 

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

Key product information

How it works
You choose a deposit term for your Fixed Rate Saver. Available terms are:

  • 3 months
  • 6 months
  • 1 year
  • 2 years
  • 3 years


You can deposit anything from £2,000. The money is locked away for the whole of the term.

The interest rate depends on the amount you deposit and the length of the term. As the rate is fixed in advance, you know exactly how much interest you will earn by the end of the term. See current rates

The interest is paid directly into your HSBC current or savings account - the same one you used to pay in your initial deposit.

Summary Box

What is the interest rate?
Interest is calculated daily and credited either monthly, annually, or at the end of the term. For terms of 3 months, interest will be credited at the end of the term only.

If you choose monthly interest, we'll pay interest on the monthly anniversary of your account being opened. If you choose annual interest, we'll pay it on the anniversary of your account being opened.

The interest is paid directly into your HSBC current or savings account - the same one you use to pay in your initial deposit.



Can HSBC change the interest rate?

No, once your account is opened the rate will remain fixed for the duration of your fixed rate period.

 


How do I open & manage my account?

  • Open an account via Telephone Banking or in branch
  • Only one deposit per Fixed Rate Saver
  • The minimum deposit is £2,000
  • Once opened you can view your balance via Online Banking or via the HSBC Mobile Banking App. You can manage the account via Telephone Banking or in branch. 

 


Can I withdraw money?

Deposits over £50,000: You can't close the product or withdraw any money until the end of your fixed rate period.

Deposits under £50,000: You can withdraw all of the money and close the product 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 paid into the account they came from unless you have asked us to reinvest some/all of your funds. 

 


Additional Information

  • There is no cancellation period with this account.
  • 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.

 

Fixed for the term of your deposit.

All net rates are rounded to 2 decimal places.

 

Monthly Interest

 

Effective date
Term
Amount
Gross%
AER%
28.02.18
6 months 

£2k+

£50k+

£250K+

0.55

0.60

 0.65 

0.55

0.60

0.65

28.02.18
1 year 

£2k+

£50k+
£250K+

0.90

1.00

1.10

0.90

1.00

1.10

28.02.18
2 years 

£2k+

£50k+

0.65

 0.65 

0.65

0.65

28.02.18
3 years 

£2k+

£50k+

0.70

 0.70 

0.70

0.70

 

 

 

Annual Interest

 

Effective date
Term
Amount
Gross%
AER%
28.02.18
3 months 

£2k+

£50k+

0.30

 0.30 

0.30

 0.30 

 

28.02.18
6 months 

£2k+

£50k+
£250K+

0.55

0.60

0.65

0.55

0.60

0.65

28.02.18
1 year 

£2k+

£50k+
£250K+

0.90

1.00

1.10

0.90

1.00

1.10

28.02.18
2 years 

£2k+

£50k+

0.65

 0.65 

0.65

0.65

28.02.18
3 years 

£2k+

£50k+

0.70

 0.70 

0.70

0.70

 

What would the estimated balance be at the end of the term based on a range of deposits?
For the purpose of these calculations, it is assumed:-

  • Initial deposit of either £2,000 or £50,000
  • No further deposits
  • No withdrawals
  • No change to the interest rate during the fixed term

 

Projection provided for illustrative purposes only and does not take into account individual circumstances.

 
Term
Initial Deposit
Interest Rate
Balance at end of term
3 years 

£2000

£50,000 

0.70% AER/Gross

0.70% AER/Gross

£2,042.00

£51,050.00

2 years 

£2000

£50,000

0.65% AER/Gross

0.65% AER/Gross

£2,026.00

£50,650.00

1 year 

£2000

£50,000

£250,000

0.90% AER/Gross

1.00% AER/Gross

1.10% AER/Gross

£2,018.00

£50,500.00

£252,750.00

6 months 

£2000

£50,000

£250,000

0.55% AER/Gross

0.60% AER/Gross
0.65% AER/Gross

£2,005.50

£50,150.00

£250,812.50

3 months 

£2000

£50,000

0.30% AER/Gross

0.30% AER/Gross

£2,001.50

£50,037.50

 

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.

 

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

How would you like to reinvest?

Simply choose the way that suits you best, but first, take a look below at the summary box and things you should know.

You can apply to reinvest your Fixed Rate Saver up to 90 days before and 90 days after the maturity date and you can keep the same account number.

We will write to you 7 to 10 days before your account is due to mature confirming the minimum rate we will apply should you apply before close of play on the day of maturity. We suggest you wait until you have received this letter before reinvesting.

Please note: If you are giving us an instruction before maturity, the actual rate you will receive will be the rate applicable of the day of reinvestment. If we receive your instruction after your account has matured, the rate you will receive will be the rate available on the day your instruction is received by us.

 

Reinvest by phone

  • Call us after your account has matured and we can help you reinvest instantly.
  • Call 03456 00 61 61
  • Textphone contact numbers
  • Lines are open 24 hours a day, 7 days a week, 365 days a year. Calls may be monitored and/or recorded for security and service improvement purposes.

 

Reinvest in branch

To reinvest your Fixed Rate Saver after it has expired, talk to a member of staff in your local branch. 

 

Things you should know

 

Before applying, please take the time to read the following. You may also want to save some of these documents for future reference.

 

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



Before you apply, take a look below at the ‘things you should know’ about your Fixed Rate Saver application.

 

Apply in branch

  • HSBC Current Account customers can book an appointment to apply in branch by calling  03456 00 61 61.
  • From outside the UK, Channel Islands or Isle of Man, call +44 1226 261 010.
  • You’ll need to bring identification and proof of your address.

 

Things you should know

 

Before applying, please take the time to read the following. You may also want to save some of these documents for future reference.

 

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

To read our PDF files you'll need to have Acrobat Reader 8.0™ or above. It's free and can be downloaded from Adobe UK. If you are accessing this website using screen reading technology that cannot read PDFs, a converter is available at Access Adobe (these links may allow you to access a non-HSBC website. HSBC Bank plc has no control over the linked website and is not liable for your use of it).

 


Make your money work hard for you and know exactly what you’ll get. Choose a term, deposit a minimum of £2,000 into your Fixed Rate Saver and earn interest at a great fixed rate. 

Key Benefits

  • Choose how long you save
    Choose from five deposit terms, ranging from three months to three years, and deposit anything from £2,000
  • Get a great interest rate
    Earn between 0.30% AER/gross and 1.10% AER/gross depending on amount invested and term chosen 
  • Set up savings for a child
    Anyone eligible to open a Fixed Rate Saver may also open an account in branch on behalf of a child, providing the child is at least seven years of age
  • Reinvest your savings
    Before the end of the term, we'll ask if you want to withdraw your money, start a new Fixed Rate Saver or discuss your options 
  • Know exactly what you'll get
    Your interest rate remains fixed throughout the term, so you know in advance exactly how much interest you'll earn.  
  • Close early if you need to
    Provided the deposit is under £50,000 you can close the bond early for a fee of 90 days interest. Depending on when the withdrawal is made, you may get back less than originally invested. If the deposit is over £50,000 you can't close your bond or withdraw any money until the end of the deposit term. 

 

Are you eligible?

  • Aged 7 years or over
  • Have an HSBC current account or savings account (excluding a Regular Savings Account or Basic Bank Account) which you must maintain for the duration of the fixed term
  • If you are aged between 7 years and 15 years you will need your application signed by a parent or guardian
  • If you are aged 18 years or over, you may also open a beneficiary account for a child providing you also hold a Future Saver for Children in the same names. This can only be opened in branch.

 

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

Key product information

How it works
You choose a deposit term for your Fixed Rate Saver. Available terms are:

  • 3 months
  • 6 months
  • 1 year
  • 2 years
  • 3 years


You can deposit anything from £2,000. The money is locked away for the whole of the term.

The interest rate depends on the amount you deposit and the length of the term. As the rate is fixed in advance, you know exactly how much interest you will earn by the end of the term. See current rates

The interest is paid directly into your HSBC current or savings account - the same one you used to pay in your initial deposit.

Summary Box

What is the interest rate?
Interest is calculated daily and credited either monthly, annually, or at the end of the term. For terms of 3 months, interest will be credited at the end of the term only.

If you choose monthly interest, we'll pay interest on the monthly anniversary of your account being opened. If you choose annual interest, we'll pay it on the anniversary of your account being opened.

The interest is paid directly into your HSBC current or savings account - the same one you use to pay in your initial deposit.



Can HSBC change the interest rate?

No, once your account is opened the rate will remain fixed for the duration of your fixed rate period.

 


How do I open & manage my account?

  • Open an account via Telephone Banking or in branch
  • Only one deposit per Fixed Rate Saver
  • The minimum deposit is £2,000
  • Once opened you can view your balance via Online Banking or via the HSBC Mobile Banking App. You can manage the account via Telephone Banking or in branch. 

 


Can I withdraw money?

Deposits over £50,000: You can't close the product or withdraw any money until the end of your fixed rate period.

Deposits under £50,000: You can withdraw all of the money and close the product 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 paid into the account they came from unless you have asked us to reinvest some/all of your funds. 

 


Additional Information

  • There is no cancellation period with this account.
  • 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.

 

Fixed for the term of your deposit.

All net rates are rounded to 2 decimal places.

 

Monthly Interest

 

Effective date
Term
Amount
Gross%
AER%
28.02.18
6 months 

£2k+

£50k+

£250K+

0.55

0.60

 0.65 

0.55

0.60

0.65

28.02.18
1 year 

£2k+

£50k+
£250K+

0.90

1.00

1.10

0.90

1.00

1.10

28.02.18
2 years 

£2k+

£50k+

0.65

 0.65 

0.65

0.65

28.02.18
3 years 

£2k+

£50k+

0.70

 0.70 

0.70

0.70

 

 

 

Annual Interest

 

Effective date
Term
Amount
Gross%
AER%
28.02.18
3 months 

£2k+

£50k+

0.30

 0.30 

0.30

 0.30 

 

28.02.18
6 months 

£2k+

£50k+
£250K+

0.55

0.60

0.65

0.55

0.60

0.65

28.02.18
1 year 

£2k+

£50k+
£250K+

0.90

1.00

1.10

0.90

1.00

1.10

28.02.18
2 years 

£2k+

£50k+

0.65

 0.65 

0.65

0.65

28.02.18
3 years 

£2k+

£50k+

0.70

 0.70 

0.70

0.70

 

What would the estimated balance be at the end of the term based on a range of deposits?
For the purpose of these calculations, it is assumed:-

  • Initial deposit of either £2,000 or £50,000
  • No further deposits
  • No withdrawals
  • No change to the interest rate during the fixed term

 

Projection provided for illustrative purposes only and does not take into account individual circumstances.

 
Term
Initial Deposit
Interest Rate
Balance at end of term
3 years 

£2000

£50,000 

0.70% AER/Gross

0.70% AER/Gross

£2,042.00

£51,050.00

2 years 

£2000

£50,000

0.65% AER/Gross

0.65% AER/Gross

£2,026.00

£50,650.00

1 year 

£2000

£50,000

£250,000

0.90% AER/Gross

1.00% AER/Gross

1.10% AER/Gross

£2,018.00

£50,500.00

£252,750.00

6 months 

£2000

£50,000

£250,000

0.55% AER/Gross

0.60% AER/Gross
0.65% AER/Gross

£2,005.50

£50,150.00

£250,812.50

3 months 

£2000

£50,000

0.30% AER/Gross

0.30% AER/Gross

£2,001.50

£50,037.50

 

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.

 

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

How would you like to reinvest?

Simply choose the way that suits you best, but first, take a look below at the summary box and things you should know.

You can apply to reinvest your Fixed Rate Saver up to 90 days before and 90 days after the maturity date and you can keep the same account number.

We will write to you 7 to 10 days before your account is due to mature confirming the minimum rate we will apply should you apply before close of play on the day of maturity. We suggest you wait until you have received this letter before reinvesting.

Please note: If you are giving us an instruction before maturity, the actual rate you will receive will be the rate applicable of the day of reinvestment. If we receive your instruction after your account has matured, the rate you will receive will be the rate available on the day your instruction is received by us.

 

Reinvest by phone

  • Call us after your account has matured and we can help you reinvest instantly.
  • Call 03456 00 61 61
  • Textphone contact numbers
  • Lines are open 24 hours a day, 7 days a week, 365 days a year. Calls may be monitored and/or recorded for security and service improvement purposes.

 

Reinvest in branch

To reinvest your Fixed Rate Saver after it has expired, talk to a member of staff in your local branch. 

 

Things you should know

 

Before applying, please take the time to read the following. You may also want to save some of these documents for future reference.

 

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



Before you apply, take a look below at the ‘things you should know’ about your Fixed Rate Saver application.

 

Apply in branch

  • HSBC Current Account customers can book an appointment to apply in branch by calling  03456 00 61 61.
  • From outside the UK, Channel Islands or Isle of Man, call +44 1226 261 010.
  • You’ll need to bring identification and proof of your address.

 

Things you should know

 

Before applying, please take the time to read the following. You may also want to save some of these documents for future reference.

 

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

To read our PDF files you'll need to have Acrobat Reader 8.0™ or above. It's free and can be downloaded from Adobe UK. If you are accessing this website using screen reading technology that cannot read PDFs, a converter is available at Access Adobe (these links may allow you to access a non-HSBC website. HSBC Bank plc has no control over the linked website and is not liable for your use of it).