Cash ISA

Loyalty Cash ISA

Interest is variable, 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.

Yes, we can change the interest rate on this account in line with the account’s Terms and Conditions.

For the purpose of this calculation, it is assumed:

• initial deposit is £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.

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:

• this account can only be opened in a sole name
  
• open an account via online banking, in branch or by post
• or you can transfer current and/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 current 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
• no maximum balance
  

How to manage the account:

• once opened, the account can be managed via online banking or the HSBC Mobile Banking app, where you can chat to us 24/7
• you can also manage the account via Telephone Banking or in branch

Yes, you have instant access to your account. You can make as many fee free withdrawals as you like. However, once you’ve paid in the maximum annual subscription limit, any amount withdrawn cannot be replaced until the following tax year. If you withdraw funds from your ISA, you may lose the associated tax benefits.

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 27 September 2021