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.

  • 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.
  • 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.
  • 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.
  • Watch your money grow. You’ll earn interest on your savings – and, if you’re an HSBC Advance customer, you’ll enjoy preferential rates that could help you save even more.

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. You'll earn interest on your money and if you're an HSBC Advance customer you are eligible for a preferential rate. 

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?

Interest is calculated daily and credited to the account monthly.
Balance Rate Interest rate
All balances Standard rate 0.15% AER/Gross
All balances
Preferential rate
0.20% AER/Gross
Interest is calculated daily and credited to the account monthly.
Balance All balances
Rate Standard rate
Interest rate 0.15% AER/Gross
Balance All balances
Rate Preferential rate
Interest rate 0.20% AER/Gross

Standard rates - all customers except HSBC Advance and HSBC Graduate customers.

Preferential rates - HSBC Advance and HSBC Advance Graduate customers only.

Can HSBC change the interest rate?

Yes, the interest rate is variable. We can change the interest rate on this account, in line with the account's Terms and Conditions.

  • if we increase the rate of interest, we'll either tell you personally within 31 days, or within 3 working days provide the details in a notice in the press and on our Rates and Charges notice in branches. We'll also display this information on our website
  • if we reduce the rate of interest we'll tell you personally at least 2 months in advance

What would the estimated balance be after 12 months based on a range of deposits?

For the purpose of this calculation, it is assumed the initial deposit is £1,000, there are no further deposits and no changes apply to the interest rate during the 12 months.
Initial deposit Rate Interest rate Balance at the end of 12 months
£1,000 Standard rate 0.15% AER/Gross £1,001.50
£1,000 Preferential rate 0.20% AER/Gross £1,002
For the purpose of this calculation, it is assumed the initial deposit is £1,000, there are no further deposits and no changes apply to the interest rate during the 12 months.
Initial deposit £1,000
Rate Standard rate
Interest rate 0.15% AER/Gross
Balance at the end of 12 months £1,001.50
Initial deposit £1,000
Rate Preferential rate
Interest rate 0.20% AER/Gross
Balance at the end of 12 months £1,002

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 03 September 2018

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.

You might be interested in

 

When you have some extra cash to put aside each month, the HSBC Regular Saver is a great way to watch your balance grow.

 

Whether you want instant access to your cash, a fixed rate, or an account you can manage online, we have a savings account for you.

 

Take comfort knowing exactly how much interest you will earn with our Fixed Rate Saver account.

Frequently asked questions