Saver Accounts – Find Your Regular Savings Account | HSBC UK

 

Key product information

How it works

You'll get a fixed rate of 6% AER/gross if you're an HSBC Premier, HSBC Advance, HSBC Advance (Graduate) or HSBC Passport customer (providing you keep the account for the period you hold a Regular Saver with us).1

You'll get a fixed rate of 4% AER/gross if you're a Bank Account, Bank Account Pay Monthly or Graduate Bank Account customer.2

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.) Upon maturity we will repay your fixed rate saver deposit into the account held with us from which your original deposit was taken, or if requested prior to maturity and we agree, into another account held with us in your name.

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

Summary box

Product name Regular Saver
Interest rates Your rate is fixed for 12 months.

Interest is calculated daily, based on your cleared balance. You receive your interest one year after you open your account.

See current Interest rates
Tax status Interest is paid net of basic rate income tax. This means the tax is deducted before you receive the interest.

If you are eligible for gross interest payments, please fill in an R85 form and take it in to your local branch.
Conditions for bonus payment There's no bonus payment with this account.
Withdrawal arrangements After 12 months, we will move your balance into an instant access account for you to take out whenever you like.

Partial withdrawals are not permitted. If you close your account early, you'll receive interest at our Flexible Saver rate
Access You can apply for the account online, in branch, or by phone (0800 032 4729).

Once the account is open you can manage it in branch or by phone, though not online.

Lines are open 8am to 10pm every day except Christmas Day, Boxing Day and New Year's Day.

Maturity

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.

Please note that the money will only be moved into accounts that have exactly the same sole or joint names as the Regular Saver account.

Definitions

AER stands for Annual Equivalent Rate. This shows you what the gross rate would be if interest were paid and compounded each year.

NET is the interest rate you'll receive after applicable tax has been deducted, currently 20%. Higher rate tax payers will have an additional liability.

GROSS is the interest rate you'll receive before applicable tax is deducted from your account.

Are you eligible for Regular Saver? Check the full details

How to apply

Our top 5 FAQs


1.How do I apply for a Regular Saver?

2.Am I eligible?

3.How much can I save?

4.How can I access my savings?

5.How does interest work on this account?

Need to speak to us?

Give our friendly team a call on:

0800 032 4729

Contact us



Landline freephone


0800 587 1481

Calls to 0800 numbers are chargeable from most mobile operators. Please refer to your mobile network tariff for any charges.

Lines are open from 8am to 8pm every day except for Christmas Day, Boxing Day and New Year's Day. Calls may be monitored or recorded.

Prefer to talk face-to-face?

Pop into your nearest branch for a chat.

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1HSBC Premier is subject to financial eligibility criteria. HSBC Advance Bank Account currently costs £12.95 per month. HSBC Advance has an initial 12 month contract then renewable monthly. HSBC Passport costs £8 per month and has an initial 6 month contract.

2HSBC Bank Account Pay monthly costs £15 per month HSBC Bank Account requires a minimum of £500 per month to be paid into the account. This does not apply if you're under the age of 24