HSBC Flexible Saver
Whether you’re saving for a wedding, a new car, a once-in-a-lifetime holiday or maybe all 3, you can open as many Flexible Saver accounts as you have reasons to save.
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Open an account with £1. How much you save is up to you – you can put in a lump sum or save a little at a time, starting from just £1.
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Save a bit every month. You can choose to save by standing order, transferring a set amount into the account each month or by making a lump sum payment. There’s no maximum balance.
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Access your money instantly. This is an instant access account, so you can take out and transfer money whenever you need to, no notice required.
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Watch your money grow. You’ll earn interest on your savings.
Open a Flexible Saver account today
Start saving for something special with just a £1 deposit.
Please read the important product information and check eligibility before you apply.
Key product information
Our Flexible Saver helps you save for anything, in a way that suits you. It's an instant access account, so you can put in or take out money whenever you like. There are no charges for withdrawals.
You can open as many Flexible Saver accounts as you like – perhaps one for a wedding and another for a holiday.
Unless you tell us otherwise, we will send you paper statements via the post. If you prefer, you can switch off your paper statements on online banking.
Summary box
What is the interest rate?
| Balance | Rate | Interest rate |
|---|---|---|
| All balances | Standard rate | 1.40% AER (1.39% Gross) |
| Balance | All balances |
|---|---|
| Rate | Standard rate |
| Interest rate | 1.40% AER (1.39% Gross) |
Can HSBC change the interest rate?
Yes, we can change the interest rate on this account in line with the Personal Banking Terms and Conditions:
- If the change is beneficial to you (e.g. if we are increasing the rate of interest we pay you), or in some other situations where the change is being made for reasons outside our control (e.g. a change in a reference rate such as the Bank of England base rate), if we think it’s appropriate for us to make the change without prior notice we may make the change without telling you first, although we’ll notify you afterwards
- Otherwise, where possible, we’ll tell you at least 30 days before any change
What would the estimated balance be after 12 months based on a range of deposits?
| Initial deposit | Interest rate | Balance at the end of 12 months |
|---|---|---|
| £1,000 | 1.40% AER (1.39% Gross) | £1,014.00 |
| Initial deposit | £1,000 |
|---|---|
| Interest rate | 1.40% AER (1.39% Gross) |
| Balance at the end of 12 months | £1,014.00 |
Projection provided for illustrative purposes only and does not take into account individual circumstances.
How do I open and manage my account?
Eligibility:
- aged 16 years or over
Minimum/Maximum balance:
- a minimum of £1 must be deposited to open the account
- there is no maximum balance
How to manage the account:
- once opened you can view your balance via online banking, phone banking, the app or in branch
Can I withdraw money?
Yes, you have instant access to your account. You can make as many fee free withdrawals as you like.
Additional information
- a 14 day cancellation period applies to this account
- we do not deduct tax from any interest paid to you
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
Rates correct as at 26 September 2024
How to apply
Apply online
If you have an HSBC current or another savings account and you're registered for online banking, you can apply online in minutes.
Register for online banking
It only takes a few minutes. Then, once you receive your security details, you can apply online right away.
Additional information
Before applying, please take the time to read the following documents. You may also want to save them for future reference.
Your eligible deposits with HSBC Bank plc are protected up to the limit of your local Compensation Scheme.
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