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Flexible Saver

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

  • Watch your money grow

    You’ll earn interest on your savings – and, if you’re an HSBC Advance customer, you’ll enjoy preferential rates that could help you save even more. More on HSBC Advance

  • 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

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.

Key product information 

How it works 

Flexible Savers help you save for anything, in a way that suits you. You can start your Flexible Saver account with just £1, and pay in lump sums or set up a standing order to save a set amount each month.

It's an instant access account, so you can put in or take out money whenever you like. There are no charges for withdrawals.

You can open as many Flexible Saver accounts as you like – perhaps one for a wedding and another for a holiday.

You'll earn interest on your money and if you're an HSBC Advance customer you are eligible for a preferential rate. More on HSBC Advance.

Unless you tell us otherwise, we will send you paper statements via the post. If you prefer, you can switch off your paper statements on Online Banking.

Summary box

          

Question 

Answer

What is the account name?

Flexible Saver

What is the interest rate?

Standard Rate 

Interest rate on all balances: 0.05% AER/Gross

 

Preferential rate 

Interest rate on all balances: 0.10% AER/Gross

 

Standard Rates - all customers except HSBC Advance and HSBC Graduate customers.
Preferential Rates - HSBC Advance and HSBC Advance Graduate customers only.

Interest is calculated daily and credited to the account monthly.

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?

Standard rate 

Interest rate: 0.05% AER/Gross

Balance at end of 12 months: £1,000.50

 

Preferential rate 

Interest rate: 0.10% AER/Gross

Balance at end of 12 months: £1,001

 

For the purpose of this calculation, it is assumed:-

  • Initial deposit of £1,000
  • No further deposits
  • 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

 

How to open the account:

  • Open an account via Online Banking, Telephone 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 you can view your balance 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.

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.

 

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 06.04.18

Summary box

          

Question 

What is the account name?

Answer

Flexible Saver

Question 

What is the interest rate?

Answer

Standard Rate 

Interest rate on all balances: 0.05% AER/Gross

 

Preferential rate 

Interest rate on all balances: 0.10% AER/Gross

 

Standard Rates - all customers except HSBC Advance and HSBC Graduate customers.
Preferential Rates - HSBC Advance and HSBC Advance Graduate customers only.

Interest is calculated daily and credited to the account monthly.

Question 

Can HSBC change the interest rate?

Answer

Yes, the interest rate is variable. We can change the interest rate on this account, in line with the account's Terms and Conditions.

Question 


What would the estimated balance be after 12 months based on a £1,000 deposit?

Answer

Standard rate 

Interest rate: 0.05% AER/Gross

Balance at end of 12 months: £1,000.50

 

Preferential rate 

Interest rate: 0.10% AER/Gross

Balance at end of 12 months: £1,001

 

For the purpose of this calculation, it is assumed:-

  • Initial deposit of £1,000
  • No further deposits
  • No change to the interest rate during the 12 months

 

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 16 years or over

 

How to open the account:

  • Open an account via Online Banking, Telephone 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 you can view your balance via Online Banking, Telephone Banking, the HSBC UK Mobile Banking App or in branch

Question 

Can I withdraw money?

Answer

Yes, you have instant access to your account. You can make as many fee free withdrawals as you like.

Question 

Additional Information

Answer

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.

 

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 06.04.18

 

 

How to apply

Apply online

If you have an HSBC current or another savings account and you're registered for online banking, you can apply online in minutes.

 

If you don't have a HSBC current account, call us to open the Flexible Saver or call us to make an appointment in your local branch.

 

Non-UK tax residents
If you’re liable to pay tax outside the UK, please apply at your local branch

Register for online banking

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.

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Frequently Asked Questions

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