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.
What is the account name?
HSBC Premier Savings
What is the interest rate?
|Effective date||Interest Rate|
|From 17 June 2020||0.01% AER / Gross|
|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?
What would the estimated balance be after 12 months based on a £1,000 deposit?
||Balance at the end of 12 months|
|£1,000||0.01% AER / Gross||£1,000.10|
||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
- 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.
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
Are you eligible?
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
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.
Apply by phone or in 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
Before applying, please take the time to read the following documents. You may also want to save them for future reference.
Frequently Asked Questions
How do I apply for a Premier Savings Account?
Am I eligible for HSBC Premier?
How much can I save?
How can I access my savings?
How does interest work on this account?
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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.