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Online Bonus Saver

Get bonus interest for saving

HSBC Online Bonus Saver

Enjoy a variable rate of up to 2.90% AER / 2.86% Gross with an Online Bonus Saver account in months when you don’t make a withdrawal – and if you do make a withdrawal, you'll still receive 1.40% AER / 1.39% Gross.
  • Start saving with just £1. That's all you need to open an account. Please note that accounts are limited to one per customer.
  • Receive a higher Bonus interest rate for saving more, of up to 2.90% AER / 2.86% Gross when you deposit £100,000 or more.
  • 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.
  • 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?

Interest is calculated daily and credited to the account monthly.
Balance Standard rate Interest rate including bonus
Up to £4,999 1.40% AER/1.39% Gross 2.75% AER (2.72% Gross)
£5,000 - £24,999 1.40% AER/1.39% Gross 2.80% AER (2.76% Gross)
£25,000 – £99,999 1.40% AER/1.39% Gross 2.85% AER (2.81% Gross)
£100,000+ 1.40% AER/1.39% Gross 2.90% AER (2.86% Gross)
Interest is calculated daily and credited to the account monthly.
Balance Up to £4,999
Standard rate 1.40% AER/1.39% Gross
Interest rate including bonus 2.75% AER (2.72% Gross)
Balance £5,000 - £24,999
Standard rate 1.40% AER/1.39% Gross
Interest rate including bonus 2.80% AER (2.76% Gross)
Balance £25,000 – £99,999
Standard rate 1.40% AER/1.39% Gross
Interest rate including bonus 2.85% AER (2.81% Gross)
Balance £100,000+
Standard rate 1.40% AER/1.39% Gross
Interest rate including bonus 2.90% AER (2.86% 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 Online Savings 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 credit interest we'll tell you personally at least two months in advance

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

Projection provided for illustrative purposes only and does not take into account individual circumstances.
Initial deposit Rate type Interest rate Balance at end of 12 months
£1,000 Standard rate 1.40% AER / 1.39% Gross £1,014.00
£1,000 Interest rate including bonus
2.75% AER (2.72% Gross) £1,027.50
£100,000 Standard rate
1.40% AER / 1.39% Gross £101,400.00
£100,000 Interest rate including bonus
2.90% AER (2.86% Gross) £102,900.00
Projection provided for illustrative purposes only and does not take into account individual circumstances.
Initial deposit £1,000
Rate type Standard rate
Interest rate 1.40% AER / 1.39% Gross
Balance at end of 12 months £1,014.00
Initial deposit £1,000
Rate type Interest rate including bonus
Interest rate 2.75% AER (2.72% Gross)
Balance at end of 12 months £1,027.50
Initial deposit £100,000
Rate type Standard rate
Interest rate 1.40% AER / 1.39% Gross
Balance at end of 12 months £101,400.00
Initial deposit £100,000
Rate type Interest rate including bonus
Interest rate 2.90% AER (2.86% Gross)
Balance at end of 12 months £102,900.00

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 6 September 2023

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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