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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Get the same great 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?
| Loyalty Rate | Standard Rate | |
|---|---|---|
| HSBC Premier | 0.85% AER/tax free | 0.55% AER/tax free |
| HSBC Advance | 0.75% AER/tax free | 0.55% AER/tax free |
| Other Current Accounts | 0.65% AER/tax free | 0.55% AER/tax free |
| HSBC Premier | |
| Loyalty Rate | 0.85% AER/tax free |
| Standard Rate |
0.55% AER/tax free |
| HSBC Advance | |
| Loyalty Rate | 0.75% AER/tax free |
| Standard Rate | 0.55% AER/tax free |
| Other Current Accounts | |
| Loyalty Rate | 0.65% AER/tax free |
| Standard Rate | 0.55% 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?
| Initial deposit | Rate | Interest rate | Balance at the end of 12 months |
|---|---|---|---|
| £1,000 | HSBC Premier Loyalty Rate |
0.85% AER/tax free | £1,008.50 |
| £1,000 | HSBC Advance Loyalty Rate |
0.75% AER/tax free | £1,007.50 |
| £1,000 | Other Current Accounts Loyalty Rate |
0.65% AER/tax free | £1,006.50 |
| £1,000 | Standard Rates for all accounts | 0.55% AER/tax free | £1,005.50 |
| Initial deposit | £1,000 |
|---|---|
| Rate |
HSBC Premier Loyalty Rate |
| Interest rate | 0.85% AER/tax free |
| Balance at the end of 12 months | £1,008.50 |
| Initial deposit | £1,000 |
| Rate |
HSBC Advance Loyalty Rate |
| Interest rate | 0.75% AER/tax free |
| Balance at the end of 12 months | £1,007.50 |
| Initial deposit | £1,000 |
| Rate |
Other Current Accounts Loyalty Rate |
| Interest rate | 0.65% AER/tax free |
| Balance at the end of 12 months | £1,006.50 |
| Initial deposit | £1,000 |
| Rate | Standard Rates for all accounts |
| Interest rate | 0.55% AER/tax free |
| Balance at the end of 12 months | £1,005.50 |
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:
- Open an account via Online Banking, Telephone Banking, the HSBC UK Mobile Banking App, 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 2019/20 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
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
Information correct as at 06.04.2019
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 book an appointment with 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.
Important documents
Things you should know
Do you already hold a HSBC ISA and 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, 614KB).
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.
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