Fixed Rate Savings | Fixed Term Savings

Fixed Rate Saver

With our Fixed Rate Saver, you can put your money to work, safe in the knowledge of how much interest it’s going to earn you. Just choose the length of your term, deposit between £2,000 and £1,000,000 and prepare to earn interest at a fixed rate.

Choose how long you save for You’ve got five deposit terms to choose from – 3 months, 6 months, and 1, 2 or 3 years – and you can deposit any amount from £2,000 to £1,000,000
Get a great interest rate Earn between 0.45% AER/gross and 2.00% AER/gross, depending on the term you choose
Interest paid directly into your account We’ll pay your interest into the HSBC account you used to pay your initial deposit
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
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
Close early if you need to Provided the deposit is under £50,000, you can close the account early for a fee of 90 days’ interest. Do bear in mind that depending on when the withdrawal is made, you may get back less than you originally invested. If the deposit is over £50,000, you can't close your account or withdraw any money until the end of the deposit term

Apply for a Fixed Rate Saver

Know how much you’ll earn right from the start

How to apply for a Fixed Rate Saver Bond

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

Looking to reinvest?

How to reinvest in a Fixed Rate Saver Bond

Key product information

How it works

You choose a deposit term for your Fixed Rate Saver. Available terms are:
- 3 or 6 months
- 1, 2 or 3 years

You can deposit anything from £2,000 to £1,000,000. The money is locked away in the savings account for the whole of the term.

The interest rate depends on the amount you deposit and the length of the term. As the rate is fixed in advance, you know exactly how much interest you will earn by the end of the term. See current rates

The interest is paid directly into your HSBC current or savings account - the same one you used to pay in your initial deposit.

Download PDF version of interest rates Download

Summary box
Question	Answer
What is the account name?	Fixed Rate Savings
What is the interest rate?	Term of 3 years Interest rate on balances of £2,000+: 2.00% AER/Gross Interest rate on balances of £50,000+: 2.00% AER/Gross Term of 2 years Interest rate on balances of £2,000+: 1.80% AER/Gross Interest rate on balances of £50,000+: 1.80% AER/Gross Term of 1 year Interest rate on balances of £2,000+: 1.60% AER/Gross Interest rate on balances of £50,000+: 1.60% AER/Gross Term of 6 months Interest rate on balances of £2,000+: 0.55% AER/Gross Interest rate on balances of £50,000+: 0.55% AER/Gross Term of 3 months Interest rate on balances of £2,000+: 0.45% AER/Gross Interest rate on balances of £50,000+: 0.45% AER/Gross Interest is calculated daily and credited either monthly, annually, or at the end of the term. For terms of 3 months, interest will be credited at the end of the term only. 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?	Initial Deposit of £2,000 Term of 3 years Interest rate on initial balance of £2,000: 2.00% AER/Gross Balance at the end of term: £2,122.42 Term of 2 years Interest rate of initial balances of £2,000: 1.80% AER/Gross Balance at the end of term: £2,072.65 Term of 1 year Interest rate on initial balance of £2,000: 1.60% AER/Gross Balance at the end of term: £2,032.00 Term of 6 months Interest rate on balance of £2,000: 0.55% AER/Gross Balance at the end of term: £2,005.50 Term of 3 months Interest rate on balance of £2,000: 0.45% AER/Gross Balance at the end of term: £2,002 Initial Deposit of £50,000 Term of 3 years Interest rate on initial balance of £50,000: 2.00% AER/Gross Balance at the end of term: £53,060.40 Term of 2 years Interest rate of initial balance of £50,000: 1.80% AER/Gross Balance at the end of term: £51,816.20 Term of 1 year Interest rate on initial balance of £50,000: 1.60% AER/Gross Balance at the end of term: £50,800.00 Term of 6 months Interest rate on initial balance of £50,000: 0.55% AER/Gross Balance at the end of term: £50,137.50 Term of 3 months Interest rate on initial balance of £50,000: 0.45% AER/Gross Balance at the end of term: £50,056 For the purpose of these calculations, it is assumed:- Initial deposit of either £2,000 or £50,000 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 7 years or over Have an HSBC current account or savings account (excluding an ISA, Regular Savings Account or Basic Bank Account) which you must maintain for the duration of the fixed term If you are aged between 7 years and 15 years you will need your application signed by a parent or guardian If you are aged 18 years or over, you may also open a beneficiary account for a child providing you also hold a Future Saver for Children in the same names. This can only be opened in branch. How to open the account: If you’re applying for a Fixed Rate Saver in your sole name you can apply on line, via telephone banking or pop into your local branch If you’re applying for a Fixed Rate Saver in joint names you can apply via telephone banking or pop into your local branch The Fixed Rate Saver funds will be transferred from a nominated account with HSBC UK Bank, please ensure that funds are available 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 you can view your balance via Online Banking or via the HSBC UK Mobile Banking App. You can manage the account via Telephone Banking or in branch.
Can I withdraw money?	Deposits over £50,000: You can't close the product or withdraw any money until the end of your fixed rate period. Deposits under £50,000: You can withdraw all of the money and close the product early, for a fee of 90 days interest. 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 this account. 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 if interest were paid and not compounded each year Rates correct as at 10.01.19

Summary box
Question	What is the account name?
Answer	Fixed Rate Savings

Question	What is the interest rate?
Answer	Term of 3 years Interest rate on balances of £2,000+: 2.00% AER/Gross Interest rate on balances of £50,000+: 2.00% AER/Gross Term of 2 years Interest rate on balances of £2,000+: 1.80% AER/Gross Interest rate on balances of £50,000+: 1.80% AER/Gross Term of 1 year Interest rate on balances of £2,000+: 1.60% AER/Gross Interest rate on balances of £50,000+: 1.60% AER/Gross Term of 6 months Interest rate on balances of £2,000+: 0.55% AER/Gross Interest rate on balances of £50,000+: 0.55% AER/Gross Term of 3 months Interest rate on balances of £2,000+: 0.45% AER/Gross Interest rate on balances of £50,000+: 0.45% AER/Gross Interest is calculated daily and credited either monthly, annually, or at the end of the term. For terms of 3 months, interest will be credited at the end of the term only. 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.

Question	Can HSBC change the interest rate?
Answer	No, once your account is opened the rate will remain fixed for the duration of your fixed rate period.

Question	What would the estimated balance be at the end of the term based on a range of deposits?
Answer	Initial Deposit of £2,000 Term of 3 years Interest rate on initial balance of £2,000: 2.00% AER/Gross Balance at the end of term: £2,122.42 Term of 2 years Interest rate of initial balances of £2,000: 1.80% AER/Gross Balance at the end of term: £2,072.65 Term of 1 year Interest rate on initial balance of £2,000: 1.60% AER/Gross Balance at the end of term: £2,032.00 Term of 6 months Interest rate on balance of £2,000: 0.55% AER/Gross Balance at the end of term: £2,005.50 Term of 3 months Interest rate on balance of £2,000: 0.45% AER/Gross Balance at the end of term: £2,002 Initial Deposit of £50,000 Term of 3 years Interest rate on initial balance of £50,000: 2.00% AER/Gross Balance at the end of term: £53,060.40 Term of 2 years Interest rate of initial balance of £50,000: 1.80% AER/Gross Balance at the end of term: £51,816.20 Term of 1 year Interest rate on initial balance of £50,000: 1.60% AER/Gross Balance at the end of term: £50,800.00 Term of 6 months Interest rate on initial balance of £50,000: 0.55% AER/Gross Balance at the end of term: £50,137.50 Term of 3 months Interest rate on initial balance of £50,000: 0.45% AER/Gross Balance at the end of term: £50,056 For the purpose of these calculations, it is assumed:- Initial deposit of either £2,000 or £50,000 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.

Question	How do I open & manage my account?
Answer	Eligibility: Aged 7 years or over Have an HSBC current account or savings account (excluding an ISA, Regular Savings Account or Basic Bank Account) which you must maintain for the duration of the fixed term If you are aged between 7 years and 15 years you will need your application signed by a parent or guardian If you are aged 18 years or over, you may also open a beneficiary account for a child providing you also hold a Future Saver for Children in the same names. This can only be opened in branch. How to open the account: If you’re applying for a Fixed Rate Saver in your sole name you can apply on line, via telephone banking or pop into your local branch If you’re applying for a Fixed Rate Saver in joint names you can apply via telephone banking or pop into your local branch The Fixed Rate Saver funds will be transferred from a nominated account with HSBC UK Bank, please ensure that funds are available 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 you can view your balance via Online Banking or via the HSBC UK Mobile Banking App. You can manage the account via Telephone Banking or in branch.

Question	Can I withdraw money?
Answer	Deposits over £50,000: You can't close the product or withdraw any money until the end of your fixed rate period. Deposits under £50,000: You can withdraw all of the money and close the product early, for a fee of 90 days interest. 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.

Question	Additional Information
Answer	There is no cancellation period with this account. 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 if interest were paid and not compounded each year Rates correct as at 10.01.19

How to apply

To open a Fixed Rate Saver, you must answer YES to the following questions:

Are you aged 7 or over?
Do you have an HSBC current account or savings account (other than an ISA, Regular Saver, or Basic Bank Account)?

If you are eligible to open a Fixed Rate Saver, you can also open a beneficiary account in branch on behalf of a child aged 7 years or over.

(If you are aged between 7 years and 15 years you will need your application signing by your parent or guardian).

Apply online

If you have an HSBC current account or savings account (excluding an ISA) and you're registered for online banking, you can log on to apply for a Fixed Rate Saver in just a few minutes.

Log on to apply

Not registered for online banking yet?

If you already have an HSBC current account or savings account (excluding an ISA), you can register for online banking.Once you've received your security details, you'll be able to apply for and manage your savings account online.

Apply in branch

Existing HSBC current account or savings account customers can apply for this account by visiting one of our branches. You’ll just need to bring some identification and proof of your address.

Once your account is open, you can manage it in branch and online.

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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. We’ll write to you 7 to 10 days before your account is due to mature, confirming the minimum rate if you apply before close of play on the day of maturity. We suggest you wait until you receive this letter before reinvesting.

Please note that if you do instruct us before maturity, the actual rate you receive will be the rate applicable on the day of reinvestment. If we receive your instruction after your account has matured, the rate will be the one available on the day we receive your instruction.

Reinvest online

If you're registered for online banking, you can reinvest online in minutes.

Log on to apply This link will open in a new window

Not registered for online banking yet?

If you already have an HSBC current account or savings account, you can register for online banking. Once you've received your security details, you'll be able to apply for and manage your savings account online.

Reinvest by phone

Call us after your account has matured and we can help you reinvest instantly.

Call 0800 032 4729

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

To reinvest your Fixed Rate Saver Bond after it’s expired, please talk to a member of staff in your local branch.

Find a branch This link will open in a new window

Frequently Asked Questions

To open a Fixed Rate Saver you must be aged 7 or over and have an HSBC current account or savings account (excluding an ISA, Regular Savings Account or Basic Bank Account) which you must maintain for the duration of the fixed term.

If you are aged between 7 years and 15 years you will need your application signed by your parent or guardian.

If you are aged 18 years or over, you may also open a beneficiary account for a child providing you hold a Future Saver for Children in the same names. This can only be opened in branch.

Money is deposited for a fixed term. There is no cancellation period.

It's possible to withdraw deposits below £50,000 early and in full, subject to a fee of 90 days' gross interest. You can't withdraw part of the money. You're not able to withdraw deposits of £50,000 or over early, in full or in part.

We offer tiered rates of interest depending on deposit and term. Your rate is fixed for the deposit term. Fixed terms of 3 months to 3 years are available. Interest is calculated daily and paid either monthly, annually or upon maturity (depending upon the term). If the term of your Bond is for 3 months, interest will always be paid upon maturity.

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Fixed Rate Saver

Fixed Rate Saver

Choose how long you save for You’ve got five deposit terms to choose from – 3 months, 6 months, and 1, 2 or 3 years – and you can deposit any amount from £2,000 to £1,000,000

Get a great interest rate Earn between 0.45% AER/gross and 2.00% AER/gross, depending on the term you choose

Interest paid directly into your account We’ll pay your interest into the HSBC account you used to pay your initial deposit

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

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

Key product information

How it works

Summary box

Summary box

How to apply

Are you eligible?

Apply online

Not registered for online banking yet?

Apply in branch

Apply in branch

Additional information

How would you like to reinvest?

How to reinvest

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Frequently Asked Questions

How do I apply for a Fixed Rate Saver?

Am I eligible?

How much can I save?

How can I access my savings?

How is interest calculated?

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