Fixed Rate Saver
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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
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Get a great interest rate Earn between 0.45% AER/gross and 2.00% AER/gross, depending on the term you choose
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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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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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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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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
Please read the important product information and check eligibility before you apply.
Looking to reinvest?
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.
Question |
Answer |
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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
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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:-
Projection provided for illustrative purposes only and does not take into account individual circumstances. |
How do I open & manage my account? |
Eligibility:
How to open the account:
Minimum/Maximum Balance:
How to manage the account
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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
Rates correct as at 10.01.19 |
Question |
What is the account name? |
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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
|
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:-
Projection provided for illustrative purposes only and does not take into account individual circumstances. |
Question |
How do I open & manage my account? |
Answer |
Eligibility:
How to open the account:
Minimum/Maximum Balance:
How to manage the account
|
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
Rates correct as at 10.01.19 |
How to apply
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.
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.
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.
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