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Cash ISA

Plan for the future, free from UK income tax
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HSBC Loyalty Cash ISA

Open up your ISA in minutes and be rewarded for your loyalty.

  • Open your account with just £1  Start your ISA savings with any amount from £1 and deposit up to £20,000 this tax year

  • Manage your HSBC savings easily Manage your account online, in branch or over the phone

  • Get the same great rates on transfers  Transfer in existing cash ISAs and stocks and shares ISAs by completing and submitting a paper form

  • Save money your way Make regular payments or lump sum deposits - it's your choice

Open an HSBC Loyalty Cash ISA today

Please read the important product information and check eligibility before you apply.

 

Available to HSBC Current Account customers only

Key product information

How it works

With the Loyalty Cash ISA, we reward you for your loyalty as long as you pay at least £1 into your ISA each year. This exclusive variable loyalty rate applies for 12 months* from the date of each payment.

If you make further payments into your ISA, your loyalty rate period will begin again from the date of each payment. Upon the expiry of your Loyalty rate period, you will earn a standard rate of interest until you make a further payment.

You can start your ISA savings with any amount from £1 and you could subscribe up to £20,000 this tax year.

Summary box

          

Question

Answer

What is the account name?

Loyalty Cash ISA

What is the interest rate?

Standard Rates for all accounts

 

Interest rate: 0.55% AER/tax free

 

Loyalty Rates

 

HSBC Premier

Interest rate: 0.85% AER/tax free

 

HSBC Advance

Interest rate: 0.75% AER/tax free

 

Other current accounts

Interest rate: 0.65% AER/tax free


Interest is calculated daily and credited to the account monthly.

A Loyalty Rate applies for 12 months* from the date of each payment into your ISA. If you make further payments into your ISA, your Loyalty Rate period will begin again from the date of each payment. Upon the expiry of your Loyalty Rate period, you will earn a standard rate of interest until you make a further payment.

* 12 months is calculated as 366 days for interest purposes to allow for leap years.

Can HSBC change the interest rate?

Yes, the interest rate is variable. We can change the interest rate on this account, in line with the account's Terms and Conditions.

What would the estimated balance be after 12 months based on a £1,000 deposit?

Standard Rates for all accounts

 

Interest rate: 0.55% AER/tax free

Balance at end of 12 months: £1,005.50

 

Loyalty Rates

 

HSBC Premier

Interest rate: 0.85% AER/tax free

Balance at end of 12 months: £1,008.50

 

HSBC Advance

Interest rate: 0.75% AER/tax free

Balance at end of 12 months: £1,007.50

 

Other current accounts

Interest rate: 0.65% AER/tax free

Balance at end of 12 months: £1,006.50

 

 

For the purpose of this calculation it is assumed:-

  • Initial deposit of £1,000
  • No further deposits
  • 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 & manage my account?

Eligibility:

  • Aged 16 years or over
  • Be resident in the UK for tax purposes, or if not so resident, be a Crown employee serving overseas, or be married to, or in a civil partnership with, such a person
  • Hold an HSBC current account

 

How to open the account:

  • Open an account via Online Banking, Telephone Banking, the HSBC UK Mobile Banking App, in branch or by post
  • Or you can transfer current or previous years subscriptions by completing an ISA transfer form

 

Minimum/Maximum Balance:

  • A minimum of £1 must be deposited to open the account
  • The maximum amount you can deposit is subject to annual subscription limits. The annual subscription limit for the 2018/19 tax year is £20,000. This can be saved in a cash ISA, a stocks and shares ISA, an innovative finance ISA or a lifetime ISA with either the same or different providers.
  • The maximum balance you can hold is subject to the ISA Regulations

 

How to manage the account:

  • Once opened you can manage the account via Online Banking, Telephone Banking, the HSBC UK Mobile Banking App or in branch

Can I withdraw money?

Yes, you have instant access to your account. You can make as many fee free withdrawals as you like. However once you have paid in the maximum annual subscription limit to this ISA, any amount withdrawn can not be replaced until the following tax year.

If you withdraw funds from your ISA you will lose the associated tax benefits.

Additional Information

A 30 day cancellation period applies to this account.

Interest is paid tax-free, that is free from UK Income Tax and Capital Gains Tax.
The value of tax benefits described depends on individual circumstances. The tax treatment of ISAs could change in the future.

Subscribing to a cash ISA may affect your eligibility to subscribe to a Help to Buy: ISA

 

Definitions

  • AER stands for Annual Equivalent Rate. This shows you what the gross rate would be if interest were paid and compounded each year.
  • Tax free, free from personal liability to any UK Income Tax and Capital Gains Tax
  • ISA stands for Individual Savings Account

 

Rates correct as at 03.09.2018

Summary box

          

Question

What is the account name?

Answer

Loyalty Cash ISA

Question

What is the interest rate?

Answer

Standard Rates for all accounts

 

Interest rate: 0.55% AER/tax free

 

Loyalty Rates

 

HSBC Premier

Interest rate: 0.85% AER/tax free

 

HSBC Advance

Interest rate: 0.75% AER/tax free

 

Other current accounts

Interest rate: 0.65% AER/tax free


Interest is calculated daily and credited to the account monthly.

A Loyalty Rate applies for 12 months* from the date of each payment into your ISA. If you make further payments into your ISA, your Loyalty Rate period will begin again from the date of each payment. Upon the expiry of your Loyalty Rate period, you will earn a standard rate of interest until you make a further payment.

* 12 months is calculated as 366 days for interest purposes to allow for leap years.

Question

Can HSBC change the interest rate?

Answer

Yes, the interest rate is variable. We can change the interest rate on this account, in line with the account's Terms and Conditions.

Question

What would the estimated balance be after 12 months based on a £1,000 deposit?

Answer

Standard Rates for all accounts

 

Interest rate: 0.55% AER/tax free

Balance at end of 12 months: £1,005.50

 

Loyalty Rates

 

HSBC Premier

Interest rate: 0.85% AER/tax free

Balance at end of 12 months: £1,008.50

 

HSBC Advance

Interest rate: 0.75% AER/tax free

Balance at end of 12 months: £1,007.50

 

Other current accounts

Interest rate: 0.65% AER/tax free

Balance at end of 12 months: £1,006.50

 

 

For the purpose of this calculation it is assumed:-

  • Initial deposit of £1,000
  • No further deposits
  • 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.

Question

How do I open & manage my account?

Answer

Eligibility:

  • Aged 16 years or over
  • Be resident in the UK for tax purposes, or if not so resident, be a Crown employee serving overseas, or be married to, or in a civil partnership with, such a person
  • Hold an HSBC current account

 

How to open the account:

  • Open an account via Online Banking, Telephone Banking, the HSBC UK Mobile Banking App, in branch or by post
  • Or you can transfer current or previous years subscriptions by completing an ISA transfer form

 

Minimum/Maximum Balance:

  • A minimum of £1 must be deposited to open the account
  • The maximum amount you can deposit is subject to annual subscription limits. The annual subscription limit for the 2018/19 tax year is £20,000. This can be saved in a cash ISA, a stocks and shares ISA, an innovative finance ISA or a lifetime ISA with either the same or different providers.
  • The maximum balance you can hold is subject to the ISA Regulations

 

How to manage the account:

  • Once opened you can manage the account via Online Banking, Telephone Banking, the HSBC UK Mobile Banking App or in branch

Question

Can I withdraw money?

Answer

Yes, you have instant access to your account. You can make as many fee free withdrawals as you like. However once you have paid in the maximum annual subscription limit to this ISA, any amount withdrawn can not be replaced until the following tax year.

If you withdraw funds from your ISA you will lose the associated tax benefits.

Question

Additional Information

Answer

A 30 day cancellation period applies to this account.

Interest is paid tax-free, that is free from UK Income Tax and Capital Gains Tax.
The value of tax benefits described depends on individual circumstances. The tax treatment of ISAs could change in the future.

Subscribing to a cash ISA may affect your eligibility to subscribe to a Help to Buy: ISA

 

Definitions

  • AER stands for Annual Equivalent Rate. This shows you what the gross rate would be if interest were paid and compounded each year.
  • Tax free, free from personal liability to any UK Income Tax and Capital Gains Tax
  • ISA stands for Individual Savings Account

 

Rates correct as at 03.09.2018

 

 

How to apply

Apply online

Registered for online banking?
Simply apply online for our HSBC Loyalty Cash ISA using online banking.

 

Not registered yet?
If you’re already a customer, you can register for online banking.

How to make a transfer in

If you have existing cash ISAs with HSBC or another provider, you can transfer them into an HSBC cash ISA
just by completing and submitting a paper form. Please be sure to read the documents in the things you should know section. Please also print or save a copy of these for easy reference.

Transfer in by phone or branch

To transfer an existing HSBC cash ISA to the HSBC Loyalty Cash ISA, please call us on:

03457 404 404
For Premier customers: 03457 707 070

Alternatively, you can visit your local branch.

To help us continually improve our service, and in the interests of security for all parties, telephone calls may be monitored and/or recorded. Lines are open 8AM – 8PM (Mon – Sun) or 24 hours for Premier.

Transfer stocks and shares ISA

To transfer a stocks and shares ISA to the HSBC Loyalty Cash ISA, please submit your Stocks and Shares ISA to Loyalty Cash ISA Transfer Form (PDF) to a branch or to:

HSBC UK Bank plc

PO Box 6167, Coventry, CV3 9HL 

Transfer in by post

To transfer a cash ISA to the HSBC Loyalty Cash ISA, please submit your HSBC Loyalty Cash ISA Form (PDF) to a branch or to:

HSBC UK Bank plc

PO Box 6167, Coventry, CV3 9HL 

Additional information

Before applying, please take the time to read the following documents. You may also want to save them for future reference.

Things you should know

Have you recently subscribed to your Loyalty Cash ISA?
If you already have an HSBC ISA, but haven't subscribed to it in the last tax year, you won't be able to subscribe in the current tax year unless you reactivate your ISA.

To reactivate your ISA and make further subscriptions, please download the HSBC Loyalty Cash ISA Reactivation Form (PDF, 502KB)

Return it to us by post to the address on the form, call in to your local branch, or give us a call. If you need help with filling in the form, please ask a member of staff.

You might also be interested in

If you would like to use your allowance for stocks and share as well as cash.

Save with the HSBC Help to Buy: ISA and you could fast-track your way to purchasing your first home.

Find out more about tax efficient savings and how to make the most of your ISA allowance.

Frequently Asked Questions

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