Top of main content
Woman listening to the music

Regular Savings Account

A great way to get into the savings habit

Due to very high demand, it is taking us longer than usual to open new Regular Saver accounts. If you’ve already applied for a new account, please bear with us and we will be in touch shortly.

HSBC Regular Saver

When you have some extra cash to set aside each month, our Regular Saver is a great way to help your money grow. You can save up to £3,000 at a 1.00% interest rate that’s fixed for 12 months.

  • Start saving from just £25. Set up a standing order from your HSBC account to pay between £25 and £250 into your Regular Saver each month. If your regular payments are less than £250 a month, you can carry your allowance over, paying more in later months (up to a total of £3,000).

  • Keep your money saved for a year. To benefit from the rate on this account, you won’t be able to make partial withdrawals at any time during the 12 months. You can choose to close your account early, but if you do, you’ll receive interest at our Flexible Saver rate.

  • Receive a lump sum. At the end of 12 months, we'll transfer your balance into your Flexible Saver or Premier Savings account. If you have more than one of these, we'll choose whichever pays the best interest. If you don't have any, we'll convert your Regular Saver to a Flexible Saver for you.

Open a Regular Saver today

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

1.00% AER / gross

 

Regular Saver coming to an end?

If you’re thinking about what to do next, here are some maturity options. Depending on your circumstances, you could open a new Regular Saver, consider other savings products, repay debts or explore investing. 

dpws-tools-calculator-creator

For the purpose of this calculation, it is assumed that 12 monthly deposits are made as shown, and no withdrawals are made.

Projection provided for illustrative purposes only and does not take into account individual circumstances. The figures are approximate and you may receive slightly more or less than is shown.

Summary box

What is the account name?

Regular Saver

What is the interest rate?

The current interest rates are shown below:

Balance
Interest rate
All balances 1.00% AER (1.00% Gross)

The current interest rates are shown below:

Balance
All balances
Interest rate 1.00% AER (1.00% Gross)

Interest is calculated daily and is credited at the end of the 12 month fixed term.

Can HSBC change the interest rate?

No, once your account is opened the rate will remain fixed for the 12 month term.

What would the estimated balance be after 12 months based on 12 regular monthly deposits of £25 and £250?

The estimated balance after 12 months based on 12 regular monthly deposits of £25 and £250 would be as follows:

Monthly Deposits Interest rate Total deposits
after 12 months
Balance at end of 12 months
£25 1.00% AER (1.00% Gross)
£300 £301.63
£250 1.00% AER (1.00% Gross)
£3,000 £3,016.25

The estimated balance after 12 months based on 12 regular monthly deposits of £25 and £250 would be as follows:

Monthly Deposits £25
Interest rate 1.00% AER (1.00% Gross)
Total deposits
after 12 months
£300
Balance at end of 12 months £301.63
Monthly Deposits £250
Interest rate 1.00% AER (1.00% Gross)
Total deposits
after 12 months
£3,000
Balance at end of 12 months £3,016.25

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

  • 12 monthly deposits of £25 or £250
  • 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?

Eligibility:

  • you must have one of the following HSBC current accounts: HSBC Premier, HSBC Advance, Bank Account, Bank Account Pay Monthly, HSBC Student Bank Account or Graduate Bank Account which you must maintain for the 12 month duration

 

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:

  • the minimum deposit in month 1 is £25
  • the maximum balance is £3,000 at the end of the 12 month term

 

Regular Deposits:

  • regular deposits must be made by standing order each month
  • the minimum monthly deposit is £25 per month
  • the maximum monthly deposit is £250 per month
  • if you don't pay in the maximum allowed in any month, you can carry over the unused subscriptions and catch up in future months

 

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?

No, you can not make partial withdrawals.

You can close your account before the end of the 12 month term however you will receive interest up to the date of closure at our Flexible Saver rate.

At the end of 12 months we'll transfer your savings into your Flexible Saver or Premier Savings. If you have more than one of these accounts we'll pay your savings into the account which pays the best interest. And if you don't have any of these accounts, we'll convert your Regular Saver to a Flexible Saver.

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 at 24 November 2020.

How to apply

Are you eligible?

To open a Regular Saver, you need to hold an active HSBC current account (excluding Basic Bank Account).

If you're not yet an HSBC customer, find out more about our current accounts.

Please note, we only allow one Regular Saver per customer.

 

Apply online in minutes

If you’re an existing HSBC current account (excluding Basic Bank Account) customer, log on or register for online banking to apply.

Frequently Asked Questions

You might also be interested in

 

Find out more about tax efficient savings and how to make the most of your ISA allowance.

 

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 answer your query online. Visit our Help page to find out how.