Key product information
How it works
When you open a Money Market account, we agree a rate of interest that is personal to you.
You can choose a fixed deposit term or a Call / Notice account. See the options in the table below.
| Fixed term | Call/Notice | ||
| Access | Fixed term of 7 days to 5 years. | Fixed term of overnight to 6 days. | Immediate (Call), 7 or 14 days, 1, 3, or 6 months. |
| Minimum balance | £50,000 | £250,000 | £50,000 |
| Maximum balance | No maximum | No maximum | |
| Additions | Not allowed | Unlimited | |
Summary box
| Product name | Money Market |
|---|---|
| Interest rates | Money Market rates vary depending on the amount and term of your deposit.
We quote rates from the London Money Market, so they may change throughout the day. For a quote, Call our Money Market specialists on 0845 60 60 600 or email gmcc.money.market@hsbcgroup.com. Fixed: The interest rate is fixed for the deposit term. We pay interest at the end of the term, or on the anniversary of your account opening for terms longer than one year. For terms of six months or longer you can choose to receive interest monthly. Call / Notice: The interest rate is variable. We pay interest every six months (January and July), or monthly, whichever you choose. For Call accounts you can also choose to receive interest daily. |
| Tax status | Fixed: Interest is automatically paid gross for all Fixed deposits less than five years, whatever your tax status. Call / Notice: Interest is paid net or gross depending on your individual tax status. |
| Conditions for bonus payment | There's no bonus payment with this account. |
| Withdrawal arrangements | Fixed: You can't make any withdrawals.
In exceptional circumstances we may allow you to close your account early and withdrawal the money in full.
This will depend on your individual tax status.
You will be charged a fee. Notice: You can withdraw money free of charge provided you give the necessary notice. If you withdraw money without giving notice you will be charged a fee. Call: Withdrawals are free of charge and you don't need to give notice. |
| Access | Money Market accounts can be opened in branch or by phone (0845 60 60 600). Accounts can be managed in branch or by phone. Call and Notice accounts can also be managed online. |
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.
Are you eligible for Money Market? Check the full details
Call our Money Market specialists on 0845 60 60 600
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