HSBC Online Bonus Saver
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Start saving with just £1. That's all you need to open an account. Please note that accounts are limited to one per customer.
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Get a higher bonus interest rate when you save more.
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Bonus interest, calculated daily. Make no withdrawals in the month and you'll earn bonus interest. Interest is calculated daily and paid monthly on the full balance.
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Open your account online only. Once opened, you can manage your account via telephone and online banking or in any of our branches. That means you can access your funds anytime you need them.
Open an Online Bonus Saver today
Please read the important product information and check eligibility before you apply.
Summary box
What is the interest rate?
| Balance | Standard rate | Interest rate including bonus |
|---|---|---|
| Up to £4,999 | 1.35% AER/1.34% Gross | 2.60% AER (2.57% Gross) |
| £5,000 - £24,999 | 1.35% AER/1.34% Gross | 2.65% AER (2.62% Gross) |
| £25,000 – £99,999 | 1.35% AER/1.34% Gross | 2.70% AER (2.67% Gross) |
| £100,000+ | 1.35% AER/1.34% Gross | 2.75% AER (2.72% Gross) |
| Balance | Up to £4,999 |
|---|---|
| Standard rate | 1.35% AER/1.34% Gross |
| Interest rate including bonus | 2.60% AER (2.57% Gross) |
| Balance | £5,000 - £24,999 |
| Standard rate | 1.35% AER/1.34% Gross |
| Interest rate including bonus | 2.65% AER (2.62% Gross) |
| Balance | £25,000 – £99,999 |
| Standard rate | 1.35% AER/1.34% Gross |
| Interest rate including bonus | 2.70% AER (2.67% Gross) |
| Balance | £100,000+ |
| Standard rate | 1.35% AER/1.34% Gross |
| Interest rate including bonus | 2.75% AER (2.72% Gross) |
The standard rate of interest is paid in any month where a withdrawal is made or you close your account.
The interest rate including bonus is paid in any month where you don't make a withdrawal or don't close your account.
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 | Rate type | Interest rate | Balance at end of 12 months |
|---|---|---|---|
| £1,000 | Standard rate | 1.35% AER / 1.34% Gross | £1,013.50 |
| £1,000 | Interest rate including bonus |
2.60% AER (2.57% Gross) | £1,026.00 |
| £100,000 | Standard rate |
1.35% AER / 1.34% Gross | £101,350.00 |
| £100,000 | Interest rate including bonus |
2.75% AER (2.72% Gross) | £102,750.00 |
| Initial deposit | £1,000 |
|---|---|
| Rate type | Standard rate |
| Interest rate | 1.35% AER / 1.34% Gross |
| Balance at end of 12 months | £1,013.50 |
| Initial deposit | £1,000 |
| Rate type |
Interest rate including bonus |
| Interest rate | 2.60% AER (2.57% Gross) |
| Balance at end of 12 months | £1,026.00 |
| Initial deposit | £100,000 |
| Rate type |
Standard rate |
| Interest rate | 1.35% AER / 1.34% Gross |
| Balance at end of 12 months | £101,350.00 |
| Initial deposit | £100,000 |
| Rate type |
Interest rate including bonus |
| Interest rate | 2.75% AER (2.72% Gross) |
| Balance at end of 12 months | £102,750.00 |
For the purpose of this calculation, it is assumed:
- initial deposit of either £1,000 or £100,000
- no additional deposits
- no withdrawal made in any month for the interest rate including bonus calculation
- a withdrawal made in every month for the Standard rate calculation
- no change to the interest rate during the 12 months
How do I open and manage my account?
Eligibility:
- be aged 16 or over
- be a resident of the Channel Islands or Isle of Man
- be able to operate the account solely online through online banking
How to open the account:
- open an account via online banking only
Minimum/Maximum balance:
- a minimum of £1 must be deposited to open the account
Can I withdraw money?
Yes, you have instant access to your account. You can make as many fee-free withdrawals as you like. However if you do make a withdrawal you will receive the standard rate of interest for that month.
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
Already registered for online banking?
If you have an HSBC Current Account or other savings account and you're registered for online banking, you can apply online now.
Not registered for online banking?
If you already have an HSBC Current Account or savings account, you can register for online banking. Once you've received your security details, you'll be able to apply for and manage your savings account online.
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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