Fixed Rate Saver
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Choose a 1-year or 2-year term, and deposit any amount from £2,000 to £1 million
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Get a fixed rate of interest for the duration of the term. Earn between 4.00% AER / gross and 3.80% AER / gross, depending on the term you choose
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Reinvest your savings. Before the end of the term, we'll write to you to ask you if you want to withdraw your money, start a new Fixed Rate Saver or discuss your options
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Interest paid directly into your account. We’ll pay your interest into the HSBC account you used to pay your initial deposit
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Know exactly what you'll get. Your interest rate remains fixed throughout the term, so you’ll know in advance exactly how much interest you'll earn
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You can withdraw all of your money and close the account early if you need to, but you'll have to pay a fee. This will be the equivalent of the amount of interest earned on the account, or a maximum of 90 days interest, whichever is lower.
Apply for a Fixed Rate Saver
Know how much you’ll earn right from the start
Please read the important product information and check eligibility before you apply.
Looking to reinvest?
Fixed Rate Saver coming to an end?
If you’re thinking about what to do next, here are some maturity options. Depending on your circumstances, you could put your money into a new Fixed Rate Saver, consider other savings products, repay debts or explore investing.
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For this calculation it's assumed that no money is taken out before the end of the fixed term.
The total interest earned is an example only and doesn't take into account individual circumstances.
Summary box
What is the account name?
Fixed Rate Savings
What is the interest rate?
| Term | Deposit | Interest rate |
|---|---|---|
| 2 years | £2,000+ | 3.80% AER / gross |
| 1 year | £2,000+ |
4.00% AER / gross |
| Term | 2 years |
|---|---|
| Deposit | £2,000+ |
| Interest rate | 3.80% AER / gross |
| Term | 1 year |
| Deposit |
£2,000+ |
| Interest rate | 4.00% AER / gross |
Interest is calculated daily and credited either monthly or annually.
If you choose monthly interest, we'll pay interest on the monthly anniversary of your account being opened. If you choose annual interest, we'll pay it on the anniversary of your account being opened.
The interest is paid directly into your HSBC current or savings account - the same one you use to pay in your initial deposit.
Can HSBC change the interest rate?
No, once your account is opened the rate will remain fixed for the duration of your fixed rate period.
What would the estimated balance be at the end of the term based on a range of deposits?
| Term | Deposit | Interest rate | Balance at end of term |
|---|---|---|---|
| 2 years | £2,000 | 3.80% AER / gross | £2,152.00 |
| 1 year | £2,000 |
4.00% AER / gross | £2,080.00 |
| Term | 2 years |
|---|---|
| Deposit | £2,000 |
| Interest rate | 3.80% AER / gross |
| Balance at end of term | £2,152.00 |
| Term | 1 year |
| Deposit |
£2,000 |
| Interest rate | 4.00% AER / gross |
| Balance at end of term | £2,080.00 |
For the purpose of these calculations, it is assumed:
- Initial deposit of £2,000
- No further deposits
- No withdrawals
- No change to the interest rate during the fixed term
Projection provided for illustrative purposes only and does not take into account individual circumstances.
How do I open & manage my account?
Eligibility:
- Aged 16 or over
- Have an HSBC current account or savings account (excluding an ISA, Regular Savings Account or Appointee / Executor Account) which you must maintain for the duration of the fixed term
How to open the account:
- This account can be opened in sole or joint names
- Open an account via Online Banking or in branch
Minimum / maximum Balance:
- Only one deposit per Fixed Rate Saver
- The minimum deposit is £2,000
- The maximum deposit is £1,000,000
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?
You can withdraw all of the funds and close your account early, but you'll have to pay a fee. This will be the same as either the amount of interest earned on the account, or a maximum of 90 days interest, whichever is lower.
You can’t withdraw part of the money.
At the end of the fixed rate period your account will be closed and your funds and interest paid into the account they came from unless you have asked us to reinvest some / all of your funds.
Additional Information
There is no cancellation period with a new Fixed Rate Saver. However, a 14 day cooling off period does apply for reinvestments.
We do not deduct tax from any interest paid to you.
Tax benefits depend on individual circumstances and could change in the future.
Definitions
AER stands for Annual Equivalent Rate. This shows you what the gross rate would be if interest were paid and compounded each year.
Gross is the rate of interest paid before any tax (where applicable) has been deducted.
Rates correct as at 12 May 2025
How to apply
Apply online for a sole account
You can apply online in minutes if you already have an HSBC current or savings account* and you're registered for online banking.
*Excludes Loyalty Cash ISA or Regular Saver.
You’ll need to contact us to apply if you:
- Are a credit card-only customer
- Have multiple tax residencies or are a non-UK tax resident
Not registered for online banking yet?
Register now - once you’ve received your security details, you’ll be able to apply for and manage your savings account online.
Apply online for a joint account
You can apply for a joint Fixed Rate Saver online if you share a joint HSBC current or savings account with the other applicant. The application needs to be in the same names as the joint HSBC account that you have.
You will need to ensure your personal details are up to date before applying.
Additional information
Before applying, please take the time to read the following documents. You may also want to save them for future reference.
How would you like to reinvest?
We have 3 ways for you to choose from – see below.
You can apply to reinvest your Fixed Rate Saver up to 90 days before and 90 days after the maturity date, and keep the same account number.
Please note rates are subject to change, so if you do instruct us to reinvest before maturity, the actual rate you receive will be the rate applicable on the day of maturity, not the rate applicable on the date you submitted your instruction to reinvest.
If we receive your instructions after your account has matured, the rate you receive, will be the rate available on the day your instruction is received by us.
We’ll write to you to confirm the interest rate and maturity date within two working days of the reinvestment.
Reinvest online
You can reinvest online in minutes using the application below.
Reinvest by phone
Call 0800 032 4729 to speak to us.
Calls to 0800 numbers are chargeable from most mobile operators. Please refer to your mobile network tariff for any charges.
Lines are open 8am to 10pm every day (except Christmas Day, Boxing Day and New Year's Day).
Reinvest in branch
Book an appointment with your local branch.
Frequently asked questions
You might also be interested in
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