HSBC offers a range of savings accounts tailored to different customer needs, including instant access, fixed-term, and specialized accounts for expats and Premier clients. For existing HSBC customers in the UK, the HSBC Online Bonus Saver provides a variable interest rate, with a bonus rate of up to 3.50% AER (3.45% gross) on balances up to £50,000 in months with no withdrawals, alongside a standard rate of 1.15% AER (1.14% gross) on all balances. This account is exclusively available online and requires no monthly withdrawals to earn the bonus rate.
For those seeking fixed-term savings, HSBC offers 1- and 2-year fixed-rate accounts with rates of 3.70% AER and 3.65% AER respectively, though these are only available to existing HSBC current or savings account holders. Early withdrawals are permitted if the balance is below £50,000, but fees may apply. Additionally, HSBC provides a flexible cash ISA with a tax-free fixed rate of 3.80% AER for up to 13 months, available to current account customers.
HSBC Premier customers benefit from tiered interest rates on their savings, where higher balances earn better rates, and the savings balance counts toward the monthly minimum balance requirement for Premier status. The HSBC Expat Saver Account allows expatriates to save in USD, EUR, or GBP with easy access and no penalty for withdrawals, with interest calculated daily and paid monthly. Interest rates on selected USD and GBP savings accounts are set to change on 5 February 2026 and 24 February 2026 respectively.
In the U.S., HSBC Direct offers an online savings account with a competitive APY, no monthly fees, and a $1 minimum deposit requirement. This account is FDIC-insured and supports mobile check deposits and online transfers, though it does not include a debit card. For those interested in fixed-term savings, HSBC Direct also offers CDs with terms of 6, 12, and 24 months, though a minimum deposit of $1,000 is required.
HSBC also provides a savings account for children aged 7 to 17, which can be opened with a £10 deposit and includes an HSBC Visa debit card from age 11. The HSBC Flexible Saver is available to all customers, including non-HSBC clients, and can be opened online, by phone, or in a branch with a £1 deposit. For customers in the Channel Islands and Isle of Man, the Fixed Rate Saver offers fixed interest rates for terms between 3 months and 3 years, with early withdrawal possible for balances below £50,000 subject to a fee of 90 days’ gross interest.
Overall, HSBC savings accounts are designed to offer flexibility, competitive interest rates, and accessibility through online and mobile banking platforms, with varying eligibility and terms depending on the account type and customer segment.
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Dear alemerson,
Thank you for saving your money with HSBC. We wanted to let you know that your Online Savings Account Annual Percentage Yield (APY) was lowered to 0.50% APY1 as of June 14, 2012.
Your Online Savings Account remains an attractive option. Rate changes like this are very thoughtfully considered and are made in response to market conditions and prevailing interest rates. Regardless of the environment, HSBC will continue to let you know about rate changes to your Online Savings Account.
To learn how HSBC can help you continue to make smart decisions about managing your finances, visit us.hsbc.com or your nearest branch.
Thank you again for being an HSBC Advance client.
Sincerely,
Andrew Ireland Executive Vice President Head of Premier & Advance Banking HSBC Bank USA, N.A.
Sorry so im a little stupid and wanted to know the crucial difference between the online bonus savings account and the flexible savings account. I can't quite wrap my head around the interest rate being higher if you dont make a withdrawal that month but if you do, the interest rate for the month only decreases to what the standard interest rate for the flexible savings account is? Am I missing something? Doesn't that make the flexible savings account basically pointless?