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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

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.

Summary box

What is the account name?

Flexible Saver

What is the interest rate?

The current interest rates are shown below:

Balance Interest rate


0.20% AER / Gross


The current interest rates are shown below:



Interest rate

0.20% AER / 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 0.20% AER / Gross £1,002.00

The estimated balance after 12 months based on a £1,000 deposit would be as follows:

Initial deposit £1,000
Interest rate 0.20% AER / Gross
Balance at the end of 12 months £1,002.00

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 if interest were paid and not compounded each year.


Rates correct as at 19 July 2022

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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Help your money grow with 1.00% AER/gross, fixed for 12 months. Available to HSBC current account customers (excluding Basic Bank Account).


Make your money grow. Choose from fixed-term or easy access accounts.


Whatever your goals, putting money aside today could have a big impact on your future.


Eligibility criteria and fees apply. You may get back less than you invest. You should aim to invest for at least 5 years. 

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