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Regular Savings Account

Our highest savings rate

Regular Saver

Put money aside each month and watch your balance grow with an Regular Saver. You can save up to £3,000 at a great interest rate that's fixed for 12 months - either 3% or 5% AER/gross.
  • Earn a high rate of interest. If you save £250 every month for 12 months and qualify for the 5% interest rate, you'll earn approximately £81 interest (gross).

  • Get a preferential rate of 5% AER/gross if you're an HSBC Premier or HSBC Advance customer1.
  • Save for a 12 month-term.  With Regular Saver, you save money over a 12-month fixed period. Partial withdrawals are not permitted. If you close your account early, you'll receive interest at our Flexible Saver rate.
  • Start Saving from just £25.  You can start your account by saving just £25 per month by standing order from your HSBC current account.

Key product information

You can choose to set up a standing order to pay between £25 and £250 into your Regular Saver account each month, up to a total of £3,000. (If your regular payments are less than £250, you can carry your allowance over and pay more in later months.)

Please note, you can only hold one Regular Saver Account at any given time.

Summary box

What is the interest rate?

Interest is calculated daily and is credited at the end of the 12 month fixed term.
Rate Interest rate
Standard rates 3.00% AER (3.00% Gross)
Preferential rates
5.00% AER (5.00% Gross)
Interest is calculated daily and is credited at the end of the 12 month fixed term.
Rate Standard rates
Interest rate 3.00% AER (3.00% Gross)
Rate Preferential rates
Interest rate 5.00% AER (5.00% Gross)
  • Standard rates available to Bank Account, Bank Account Pay Monthly, Student Bank Account or Graduate Bank Account customers
  • Preferential rates only available to HSBC Premier or HSBC Advance customers

Can HSBC change the interest rate?

No, once your account is opened the rate will remain fixed for the 12 month term.

What would the estimated balance be after 12 months based on 12 regular monthly deposits of £25 and £250?

The estimated balance after 12 months based on 12 regular monthly deposits of £25 and £250

would be as follows:

Monthly deposits Rate Interest rate Total deposits
after 12 months
Balance at end of 12 months
£25 Standard rates
3.00% AER/Gross
£300 £304.47
£25
Preferential rates
5.00% AER/Gross
£300
£308.12
£250 Standard rates
3.00% AER/Gross
£3,000 £3,048.75
£250
Preferential rates
5.00% AER/Gross
£3,000
£3,081.25

The estimated balance after 12 months based on 12 regular monthly deposits of £25 and £250

would be as follows:

Monthly deposits £25
Rate Standard rates
Interest rate 3.00% AER/Gross
Total deposits
after 12 months
£300
Balance at end of 12 months £304.47
Monthly deposits £25
Rate Preferential rates
Interest rate 5.00% AER/Gross
Total deposits
after 12 months
£300
Balance at end of 12 months £308.12
Monthly deposits £250
Rate Standard rates
Interest rate 3.00% AER/Gross
Total deposits
after 12 months
£3,000
Balance at end of 12 months £3,048.75
Monthly deposits £250
Rate Preferential rates
Interest rate 5.00% AER/Gross
Total deposits
after 12 months
£3,000
Balance at end of 12 months £3,081.25

For the purpose of this calculation, it is assumed:

  • 12 monthly deposits of £25 or £250
  • no withdrawals
  • no change to the interest rate during the 12 months

Projection provided for illustrative purposes only and does not take into account individual circumstances.

How do I open and manage my account?

Eligibility:

  • you must have one of the following HSBC current accounts: HSBC Premier, HSBC Advance, Bank Account, Bank Account Pay Monthly, HSBC Student Bank Account or Graduate Bank Account which you must maintain for the 12 month duration

 

How to open the account:

  • you can open a sole account via your online banking, telephone banking or in your local branch
  • you can open a joint account via telephone banking or in your local branch

 

Minimum/Maximum balance:

  • the minimum deposit in month 1 is £25
  • the maximum balance is £3,000 at the end of the 12 month term

 

Regular deposits:

  • Regular deposits must be made by standing order each month
  • the minimum monthly deposit is £25 per month
  • the maximum monthly deposit is £250 per month
  • if you don't pay in the maximum allowed in any month, you can carry over the unused subscriptions and catch up in future months

 

How to manage the account

  • once opened you can view your account balance via online banking, our Mobile Banking App, in branch or via phone banking. You can change the amount of your standing order via phone banking

Can I withdraw money?

  • no, you can not make partial withdrawals
  • you can close your account before the end of the 12 month term however you will receive interest up to the date of closure at our Flexible Saver rate
  • at the end of 12 months we'll transfer your savings into your Instant Access Savings, Flexible Saver or Premier Savings. If you have more than one of these accounts we'll pay your savings into the account which pays the best interest. And if you don't have any of these accounts, we'll convert your Regular Saver to a Flexible Saver

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 06 April 2017

How to apply

Already registered for online banking?

Simply log on, go to Products & Services and select Apply for a Savings account.

Applicable for sole accounts only.

Not registered for online banking yet?

If you already have an HSBC current 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 account online.

Apply by phone

Simply contact your Premier Relationship Manager or call our contact centre on:

03456 00 61 61

Additional information

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Find out more here about our HSBC Bank Accounts.

 

A savings account with a preferential rate for our Premier customers.

Frequently asked questions

1 HSBC Premier is subject to financial eligibility criteria. Please refer to the HSBC Premier webpages for more information. HSBC Advance Bank Account is subject to eligibility criteria and is available to customers who pay in £1,750 or more each month (or a minimum of £10,500 every six months), not including money transferred from other sole or joint personal accounts held with HSBC Bank. Please refer to the HSBC Advance webpages for more information.

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