Variable Rate Cash ISA – Get 1% AER Bonus for New ISAs | HSBC UK

Eligibility requirements

You're eligible for a Variable Rate Cash ISA if you're aged 16 or over, and resident in the UK for tax purposes. Crown Servants (typically Diplomats or members of the Armed Forces serving abroad and/or their spouses/civil partners) are also eligible.

See other things you should know before you apply.

How can I apply for an HSBC ISA?

• If you want to open a Cash e-ISA, you will need to log on and apply via the Cash e-ISA page
• To apply for a Variable Rate ISA, call in at any branch and ask a member of staff.
  Alternatively, to speak to an HSBC representative, simply call us on 0800 032 4729.†
  Textphone: 18001 0800 028 0126

What are the ISA subscription limits?

• Because of their tax advantages ISAs are subject to annual subscription limits. For the tax year commencing 6 April 2013 the overall ISA subscription limit is £11,520 of which up to £5,760 can be subscribed to a Cash ISA with one provider. The remainder of the £11,520 can be invested in a stocks and shares ISA with either the same or another provider. Alternatively, the full £11,520 can be invested in a stocks and shares ISA with one provider.
• You cannot subscribe to more than one of each type of ISA per tax year

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.

Can I transfer an existing ISA from another provider?

• Yes and we have made it easy for you to transfer an existing cash ISA (held with another provider) to an HSBC cash ISA . Simply download and complete either the Variable Rate Cash ISA Transfer In Form (PDF) or the Cash e-ISA Transfer In Form (PDF) and return it to us at the following address:
• HSBC Bank plc, Coventry District Service Centre, Harry Weston Road, Binley, Coventry CV3 2TQ
• Alternatively, drop it in at your local HSBC branch. You can also visit the branch for help from a member of staff

Can I make withdrawals from my ISA?

• If you hold an HSBC Variable Rate Cash ISA then you have instant access to your funds and no charge will be made for any withdrawals however if you have fully subscribed to a Cash ISA limit in a tax year, any amount withdrawn cannot be reinvested until the following tax year
• If you hold an HSBC Fixed Rate Cash ISA (no longer on sale), then your money is deposited for a fixed term of 12 months. You have the right to cancel your account within 30 days of opening it. After 30 days you can close your account and withdraw all your money but a £100 fee will apply. No partial withdrawals are allowed. After the initial 12 months you can close your account at any time without charge. If you fully subscribed to your Fixed Rate ISA and then closed the account within the first 12 months you can not reinvest this amount until the following tax year

Anything else I should know?

• 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:
  - Stocks and Shares
  - Cash
  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

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