HSBC Loyalty Cash ISA
Open up your ISA in minutes and be rewarded for your loyalty.
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Start with any amount from £1 and deposit up to £20,000 this tax year
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Receive a loyalty rate for 12 months from the date of each payment into your ISA
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Get the same rates when transferring in existing cash ISAs and stocks and shares ISAs
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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
Account name
Loyalty Cash ISA
What is the interest rate?
| Account type | Loyalty rate | Standard rate |
|---|---|---|
| HSBC Premier |
3.20% AER (3.15% tax free) | 2.50% AER (2.47% tax free) |
| Other Current Accounts |
2.85% AER (2.81% tax free) | 2.50% AER (2.47% tax free) |
| Account type |
HSBC Premier |
|---|---|
| Loyalty rate | 3.20% AER (3.15% tax free) |
| Standard rate | 2.50% AER (2.47% tax free) |
| Account type |
Other Current Accounts |
| Loyalty rate | 2.85% AER (2.81% tax free) |
| Standard rate | 2.50% AER (2.47% tax free) |
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.
Can HSBC change the interest rate?
Yes, 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?
| Initial deposit |
Rate | Interest rate | Balance at the end of 12 months |
|---|---|---|---|
| £1,000 | HSBC Premier Loyalty rate |
3.20% AER (3.15% tax free) | £1,032.00 |
| £1,000 | Other Current Accounts Loyalty rate |
2.85% AER (2.81% tax free) | £1,028.50 |
| £1,000 | Standard rates for all accounts | 2.50% AER (2.47% tax free) | £1,025.00 |
| Initial deposit |
£1,000 |
|---|---|
| Rate |
HSBC Premier Loyalty rate |
| Interest rate | 3.20% AER (3.15% tax free) |
| Balance at the end of 12 months | £1,032.00 |
| Initial deposit |
£1,000 |
| Rate |
Other Current Accounts Loyalty rate |
| Interest rate | 2.85% AER (2.81% tax free) |
| Balance at the end of 12 months | £1,028.50 |
| Initial deposit |
£1,000 |
| Rate | Standard rates for all accounts |
| Interest rate | 2.50% AER (2.47% tax free) |
| Balance at the end of 12 months | £1,025.00 |
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.
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:
- 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
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’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.
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 10 August 2023
How to apply
Apply online
Registered for online banking?
You can apply online in minutes if you already have an HSBC current account (other than a Basic Bank Account) and are registered for online banking.
You’ll need to contact us to apply if you:
- have a Basic Bank Account with us
- need to update your tax residency or have multiple tax residencies
- are a Crown employee serving outside the UK, or are married to, or in a civil partnership with such a person
Not registered yet?
It only take a few minutes and once you receive your security details you can apply online right away.
How to make a transfer in
Use our online Loyalty Cash ISA transfer in form if you’d like to transfer into any of the following accounts you hold with HSBC or another provider:
- existing cash ISA
- protected ISA
- matured Child Trust Fund
If you have a stocks and shares ISA or a protected ISA these can also be transferred in using the Stocks and Shares ISA to Loyalty Cash ISA Transfer form.
Reactivating your ISA
If you have an HSBC Loyalty Cash ISA and haven't added to it in the last year, you'll need to reactivate your ISA before you are able to top it up.
Our online reactivation form is the quickest way to do this.
Combining your ISAs
If you have more than one HSBC Loyalty Cash ISA, you can combine them.
Our online combination form is the quickest way to do this.
Additional information
Before applying, please take the time to read the following documents. You may also want to save them for future reference.
Important documents
Frequently Asked Questions
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