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Key product information

How it works

Enjoy variable interest rates of 1.70% AER (1.69% tax-free) variable for balances over £15,000.

1.60% AER (1.59% tax-free) variable for balances under £15,000.

You can start your ISA savings with any amount from £1. As a new subscriber, you could save up to £5,760 this tax year.

Summary box

Product name Cash e-ISA
Interest rates We pay interest monthly at a variable rate.

See current interest rates.
Tax status Interest is paid tax-free, that is free from UK Income Tax and Capital Gains Tax
Conditions for bonus payment There's no bonus payment with this account.
Withdrawal arrangements Withdrawals are free of charge. Minimum withdrawal £1.

You have the right to cancel your account within 30 days of opening it.
Access Cash e-ISAs can only be applied for online or by way of an ISA transfer but, once opened, the account can be managed in branch, by phone (0800 032 4729), online or by post.

Things to consider

An ISA is a tax efficient way of saving or investing as all income and capital gains arising within an ISA are exempt from any personal liability to UK income tax and capital gains tax.

There are two types of ISA:

  • cash
  • stocks and shares

The value of the tax benefits described depends on individual circumstances. The tax treatment of ISAs could change in the future.

The value of most investments and any income they generate can go down as well as up, meaning you may not get back the full amount you invested.

The value of most investments and any income they generate can go down as well as up, meaning you may not get back the full amount you invested. Most investments should be considered as a medium to long-term commitment, meaning you should be prepared to hold them for at least five years.

A payment by you into an ISA in any tax year is called a subscription. You can only subscribe to one of each type of ISA per tax year.

If you've used up your cash ISA subscription limit in a tax year, money withdrawn cannot be reinvested until the following tax year.

Because of their tax advantages ISAs are subject to annual subscription limits. For the tax year commencing 6 April 2011 the overall ISA subscription limit is £10,680, of which up to £5,340 can be subscribed to a cash ISA with one provider. The remainder of the £10,680 can be invested in a stocks and shares ISA with either the same or another provider. Alternatively, the full £10,680 can be invested in a stocks and shares ISA with one provider.

You cannot subscribe to more than one type of each type of ISA per tax year.

The value of the tax benefit depends on your individual circumstances.

The tax benefits of ISAs could change at any time in the future.

Top up your existing Cash e-ISA by real time transfer of funds from your current account online, by phone or in branch including using our express banking machines.

If you already have an HSBC Cash e-ISA, but have not subscribed to it in the previous tax year (6 April 2010 - 5 April 2011), you will not be able to subscribe in the current tax year (6 April 2011 - 5 April 2012). To reactivate your ISA and make subscriptions, please download the Cash e-ISA Reactivation Form (PDF) and return it to us by post to the address quoted or drop it into your local branch. You can also visit the branch for help from a member of staff.

Recent Cash e-ISA applications

If you've recently applied for a Cash e-ISA online, you have 30 days from the date of the declaration (which was given to you in the online application) to let us know if you want to make any amendments.

Please check your copy of the declaration and if you want to make changes, download an ISA declaration amendment form (PDF).

Return it to us by post to the address on the form, or drop in to your local branch.

If you already have an HSBC Cash e-ISA, but haven't subscribed to it in the last tax year (6 April 2012 - 5 April 2013), you won't be able to subscribe in the current tax year (6 April 2013 - 5 April 2014).

To reactivate your ISA and make further subscriptions, please download the
Cash e-ISA Reactivation Form (PDF).

Return it to us by post to the address on the form or drop in to your local branch. If you need help with filling in the form, just ask a member of staff – they'll be happy to assist 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 interest rate before the deduction of tax applicable to interest on savings accounts.

Tax free free from personal liability to any UK Income tax and Capital Gains Tax.

ISA stands for Individual Savings Account.

Are you eligible for a Cash e-ISA? Check the full details

How to apply