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Premier Savings Account

The savings account that puts you first

HSBC Premier Savings

Whether you’re saving to get on the property ladder or you want to support your family over the longer term, HSBC Premier Savings offers you all the flexibility you want from an instant access account.

  • Available to Premier customers only
  • Open an account with £1. How much you save is up to you – with no maximum limit

  • Access your money instantly. No notice is required, and you can transfer funds in real-time

  • Save the way you want. You can put away a lump sum, make a regular standing order or just make payments when it suits you

  • See your money grow. Premier Savings pays you interest every month

  • 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

Apply for a Premier Savings Account 

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

Key product information

How it works

This is an instant access savings account for HSBC Premier customers. More on HSBC Premier.

You can open the account with as little as £1. Save by putting away lump sums, save regularly by standing order, or just make payments whenever you like. You can access the money instantly with no fees, and transfer funds in real time.

Summary box

What is the account name?

HSBC Premier Savings

What is the interest rate?

See current interest rates below:
Effective date Interest Rate
From 17 June 2020 0.01% AER / Gross
See current interest rates below:
Effective date From 17 June 2020
Interest Rate 0.01% AER / Gross

Interest is calculated daily and is 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 (PDF, 424KB).

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 0.01% AER / Gross £1,000.10
The estimated balance after 12 months based on a £1,000 deposit would be as follows:
Initial deposit
Interest rate
0.01% AER / Gross
Balance at the end of 12 months £1,000.10

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 18 years or over
  • an HSBC Premier customer


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 an account
  • there is no maximum balance


How to manage the account:

  • once opened you can manage the account via online banking, telephone banking, via 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.


  • 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 to 17 June 2020



How to apply for HSBC Premier Savings

Existing HSBC Premier customers

Not registered for online banking yet?

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

Apply online

If you're registered for online banking, have a qualifying HSBC Premier account and are only liable to pay tax in the UK, you can log on to apply for HSBC Premier Savings in just a few minutes.


Note: If you’re a non-UK tax resident and will be liable to pay tax outside the UK, you’ll need to apply at your local branch.

New to HSBC Premier?

To enjoy the benefits of this account, you’ll need to upgrade your existing HSBC current account or open an HSBC Premier current account.


HSBC Premier is available to you, if you pay your annual income into your HSBC Premier Bank Account and have either:

1. savings or investments of at least £50,000 with HSBC in the UK; or

2. an individual annual income of at least £75,000 and one of the following products with HSBC in the UK:  a mortgage, investment, life insurance or protection product.


Or if you’ve already qualified for HSBC Premier in another country or region.


I already bank with HSBC

Call us: 03457 707070

From outside the UK: +44 1226 260 260

Lines are open 24 hours a day, subject to scheduled maintenance periods.

I'm not an HSBC customer

Call us: 0800 328 1296

From outside the UK: +44 1226 260 260

Lines are open 8am to 8pm weekdays and 10am to 3pm on Saturdays and Sundays (closed on Bank Holidays).

Frequently Asked Questions

You might also be interested in


Maximise your savings with 2.75% AER/gross, fixed for 12 months.


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. 

It’s easy to get in touch online. Talk to us directly through our chat channels.