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Flexible Saver Account

Save in a way that works best for you

HSBC Flexible Saver

Whether you’re saving for a wedding, a new car, a once-in-a-lifetime holiday or maybe all 3, you can open as many Flexible Saver accounts as you have reasons to save.

  • Open an account with £1. How much you save is up to you – you can put in a lump sum or save a little at a time, starting from just £1
  • Save a bit every month. You can choose to save by standing order, transferring a set amount into the account each month or by making a lump sum payment. There’s no maximum balance
  • Access your money instantly. This is an instant access account, so you can take out and transfer money whenever you need to, no notice required
  • Manage your money anytime. Once opened, you can manage your account via telephone and online banking, the HSBC UK Mobile Banking app or in any of our branches
  • Use to reach your savings goals. Set up and track your savings goal in the HSBC Mobile Banking app.

Open a Flexible Saver account today

Start saving for something special with just a £1 deposit.

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

Summary box

What is the account name?

Flexible Saver

What is the interest rate?

The current interest rates are shown below:
Balance Interest rate


2.00% AER / 1.98% gross
The current interest rates are shown below:


Interest rate 2.00% AER / 1.98% gross

Interest is calculated daily and credited to the account monthly.

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?

The estimated balance after 12 months based on a £1,000 deposit would be as follows:
Initial deposit Interest rate Balance at the end of 12 months
£1,000 2.00% AER / 1.98% gross £1,020.00
The estimated balance after 12 months based on a £1,000 deposit would be as follows:
Initial deposit £1,000
Interest rate 2.00% AER / 1.98% gross
Balance at the end of 12 months £1,020.00

For the purpose of this calculation it is assumed:

  • initial deposit of £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?


  • aged 16 years or over

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:

  • a minimum of £1 must be deposited to open the account.
  • there is 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.

Additional Information

A 14 day cancellation period applies to 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.


  • 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 10 August 2023

How to apply

Apply online

You can apply online in minutes if you’re an existing HSBC customer registered for online banking.

You’ll need to contact us to apply if you:

  • want to open a joint account
  • are a Basic Bank Account customer
  • are a credit card only customer
  • have multiple tax residencies or are a non-UK tax resident

Not registered for online banking yet?

It only takes a few minutes. Then, once you receive your security details, you can apply online right away.

Additional information

Before applying, please take the time to read the following documents. You may also want to save them for future reference.

Frequently asked questions

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Save between £25 and £250 every month with a 12-month fixed rate account. Available to customers with a current account (excluding Basic Bank Account).


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Compare all our savings accounts.


Saving for something special? Using our in-app feature can help you reach your goals.

It's easy to answer your query online. Visit our Help page to find out how.