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Online Bonus Saver

Online Bonus Saver

Get bonus interest for saving


Enjoy a variable rate of 0.45% AER/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 0.10% AER/gross.

Key Benefits

  • Start saving from just £1
    That's all you need to open an account, up to a maximum of £2,000,000. We allow one account per customer.
  • Enjoy bonus interest
    Make no withdrawals in the month and you'll earn bonus interest. Interest is calculated daily and paid monthly on the full balance.
  • Manage your account online
    This is an online savings account, you are only able to operate this account online. You can apply for it in minutes and see your balance and transactions online.
  • Higher rate on balances up to £50,000
    If you have more than £50,000 in your Online Bonus Saver account, we pay a lower interest rate on the money above £50,000

 

Eligibility

In order to open an Online Bonus Saver you must:

  • be aged 16 or over
  • be a resident of the UK, Channel Islands or Isle of Man
  • be able to operate the account solely online through Online Banking

 

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

Key Product Information

Our Online Bonus Saver account gives you a variable rate of 0.45% AER/gross (including bonus interest) for any calendar month you don't make a withdrawal. You'll get a variable rate of 0.10% AER/gross in any calendar month you do make a withdrawal or close your account.

You can open an Online Bonus Saver with £1 or more. If you have more than £50,000 in your account, interest is paid at a lower rate on balances above that amount.

Summary Box

What is the interest rate?
Interest is calculated daily and credited to the account monthly.

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.

Balances up to £50,000 will earn the higher rate of interest. Only the part of the balance above £50,000 will earn the lower rate of interest.

Balance Standard Rates Interest including bonus
Up to £50,000
0.10% AER (0.10% Gross)
0.45% AER (0.45% Gross)
£50,000+
0.10% AER (0.10% Gross)
0.25% AER (0.25% Gross)

 

 

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?
For the purpose of this calculation, it is assumed:

  • Initial deposit of either £1,000 or £60,000
  • 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


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 0.10% AER (0.10% Gross)
£1,001
£1,000 Interest including bonus 0.45% AER (0.45% Gross)
£1,004.50
£60,000 Standard rate
0.10% AER (0.10% Gross) on 1st £50,000
then 0.10% AER (0.10% Gross) on any balance above £50,000
£60,060
£60,000 Interest including bonus
0.45% AER (0.45% Gross) on 1st £50,000
then 0.25% AER (0.25% Gross) on any balance above £50,000
£60,250

 

 

How do I open & manage my account?

  • Open an account via Telephone Banking
  • A minimum of £1 must be deposited to open the account
  • The maximum balance you can hold in the account is £2,000,000
  • Once opened the account can be managed via Online Banking, Telephone Banking, the HSBC Mobile Banking 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. 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.
  • 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 06.12.17

 

 

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


Monthly Interest. Variable Rate.

Standard rates
Amount
Gross%
AER%
£1-£49,999 0.10 0.10
£50,000+
0.10 0.10

 

 
Interest including bonus (where you don't make a withdrawal in a month)
Amount
Gross%
AER%
£1-£49,999 0.45 0.45
£50,000+
0.25 0.25

 

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.


Enjoy a variable rate of 0.45% AER/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 0.10% AER/gross.

Key Benefits

  • Start saving from just £1
    That's all you need to open an account, up to a maximum of £2,000,000. We allow one account per customer.
  • Enjoy bonus interest
    Make no withdrawals in the month and you'll earn bonus interest. Interest is calculated daily and paid monthly on the full balance.
  • Manage your account online
    This is an online savings account, you are only able to operate this account online. You can apply for it in minutes and see your balance and transactions online.
  • Higher rate on balances up to £50,000
    If you have more than £50,000 in your Online Bonus Saver account, we pay a lower interest rate on the money above £50,000

 

Eligibility

In order to open an Online Bonus Saver you must:

  • be aged 16 or over
  • be a resident of the UK, Channel Islands or Isle of Man
  • be able to operate the account solely online through Online Banking

 

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

Key Product Information

Our Online Bonus Saver account gives you a variable rate of 0.45% AER/gross (including bonus interest) for any calendar month you don't make a withdrawal. You'll get a variable rate of 0.10% AER/gross in any calendar month you do make a withdrawal or close your account.

You can open an Online Bonus Saver with £1 or more. If you have more than £50,000 in your account, interest is paid at a lower rate on balances above that amount.

Summary Box

What is the interest rate?
Interest is calculated daily and credited to the account monthly.

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.

Balances up to £50,000 will earn the higher rate of interest. Only the part of the balance above £50,000 will earn the lower rate of interest.

Balance Standard Rates Interest including bonus
Up to £50,000
0.10% AER (0.10% Gross)
0.45% AER (0.45% Gross)
£50,000+
0.10% AER (0.10% Gross)
0.25% AER (0.25% Gross)

 

 

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?
For the purpose of this calculation, it is assumed:

  • Initial deposit of either £1,000 or £60,000
  • 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


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 0.10% AER (0.10% Gross)
£1,001
£1,000 Interest including bonus 0.45% AER (0.45% Gross)
£1,004.50
£60,000 Standard rate
0.10% AER (0.10% Gross) on 1st £50,000
then 0.10% AER (0.10% Gross) on any balance above £50,000
£60,060
£60,000 Interest including bonus
0.45% AER (0.45% Gross) on 1st £50,000
then 0.25% AER (0.25% Gross) on any balance above £50,000
£60,250

 

 

How do I open & manage my account?

  • Open an account via Telephone Banking
  • A minimum of £1 must be deposited to open the account
  • The maximum balance you can hold in the account is £2,000,000
  • Once opened the account can be managed via Online Banking, Telephone Banking, the HSBC Mobile Banking 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. 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.
  • 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 06.12.17

 

 

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


Monthly Interest. Variable Rate.

Standard rates
Amount
Gross%
AER%
£1-£49,999 0.10 0.10
£50,000+
0.10 0.10

 

 
Interest including bonus (where you don't make a withdrawal in a month)
Amount
Gross%
AER%
£1-£49,999 0.45 0.45
£50,000+
0.25 0.25

 

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.