★★★★★

HSBC savings accounts and rates
HSBC offers a broad range of savings accounts with interest rates up to 5.2%.
★★★★★
HSBC, more fully known as the Hong Kong and Shanghai Banking Corporation, was formed back in 1865.
It established itself in Britain after merging with Midland Bank in the 1990s. Today, it is one of the “big four” banks in the UK and is one of the largest banking organisations in the world.
HSBC offers a broad range of savings accounts and ISAs that will fit any budget or saving plan. See our analysis of them below.
Easy access savings accounts
Cash ISAs
Fixed-rate bonds
Regular savings accounts
Business savings accounts
Overview of HSBC savings
Savings account types include | Easy access, cash ISAs, fixed-rate bonds, regular savers, business |
---|---|
Best easy access rate | 4% |
Best cash ISA rate | 3.2% |
Best fixed-rate bond rate | 5.2% |
Best regular saver rate | 5% |
Best business savings account rate | 1.96% |
Fixed bond terms | 1 year - 2 years |
Opening options | Branch, website, mobile app, post, telephone |
FSCS protection |
Other popular accounts
Didn’t find the account type you were looking for? Check our other guides:
How do I decide which account is for me?
First, you will need to decide what you’re looking for in a savings account. You will need to consider how often you are planning to withdraw money and how much money you can afford to save each month.
You need to work out what you need before comparing the different offers available for certain types of savings accounts. Once you’ve done that, it’s useful to look at the following:
- Interest rates
- Fees (if there are any)
- Access to cash (if you need quick access, for instance)
- Rewards and loyalty schemes (if you’re into add-ons or switching bonuses)
HSBC customer reviews
In our 2023 customer satisfaction survey, HSBC scored 3.5 stars out of 5, with 70% of customers saying they’d recommend the brand to a friend.
Customers in our survey commented positively on HSBC’s online banking services. Several also commented on HSBC’s “friendly and helpful staff”. However, several customers felt HSBC’s interest rates could be better.
The HSBC app has a rating of 4.8 out of 5 from over one million reviews on the App Store. On Google Play, the app has a score of 4.8 from around 198,000 Android app users (last updated June 2023).
What are the pros and cons of banking with HSBC?
Pros
- Online banking. There’s no need for a high-street appointment, simply apply and manage your accounts online.
- Flexibility. HSBC offers a range of accounts, whether you’re looking for easy access or long-term gains.
- Decent interest rates. The regular savings account offers particularly competitive interest rates.
Cons
- Better rates elsewhere? HSBC mostly doesn’t have market leading rates, so shop around and see if you can get higher rates elsewhere.
Our verdict
HSBC offers a vast range of savings accounts and other options to help you manage your money, whether you want to lock it away for a set amount of time, or would rather to be able to access it whenever required. So you should find an account to suit you.
Don’t forget, though, to check our round-up of the best savings deals first, to see how HSBC savings accounts weigh up against the competition in terms of rates, fees and perks.
Frequently asked questions
Savings ratings
Our customer satisfaction scores ("Customers say") are based on a survey of 2,224 customers carried out in December 2022.
More guides on Finder
-
How to buy OpenAI shares when it goes public
Everything we know about the OpenAI IPO, plus information on how to buy shares.
-
7 simple ways to boost your savings
Many households in the UK are struggling to save, so Finder’s experts have put together these tips to help you boost your savings.
-
Autumn Statement 2023: What it means for you
Finder’s experts explain the impact of the changes your finances.
-
How to open a business bank account in the UK
Discover how to open a business bank account in the UK. From the documents you’ll need to whether you’re eligible for a business bank account, we’ve got it covered.
-
Global savings: Comparing interest rates across countries
We looked at how global savings interest rates fared against the UK base rate in 10 countries around the world.
-
Your survival guide to the Black Friday sales 2023
Learn Finder’s 7 tips for how to play the sales and win. Plus, our video reveals the discounts we expect to see from top brands this year.
-
How to invest in mutual funds
Looking to diversify your investment portfolio? Mutual funds could be a good addition. Here’s how they work.
-
Financial stress and mental health statistics UK
7 in 10 Brits (70%) have experienced financial stress, so we look at the latest statistics to see the impact money has on our mental health.