HSBC

HSBC savings accounts and rates

HSBC offers a broad range of savings accounts with interest rates up to 5.2%.

3.8 ★★★★★ (155 reviews) Write a review
Customer rating
★★★★★
Satisfaction survey
Great for regular savers that offer particularly competitive interest rates
Not so competitive with rates on other savings accounts in its range

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

Table: sorted by interest rate
HSBC's best easy access rate of 4% is significantly lower than today's market-best rate of 8%.
Name Product Account type Withdrawals Min. opening balance Interest rate Deposit protection Open via Incentive Apply link
HSBC – Online Bonus Saver
Variable
Instant access
£1
4% AER variable
FSCS logo
protected
Open via: website
Go to site
View details
HSBC – Loyalty Cash ISA - Premier customers
Cash ISA
Instant access
£1
3.2% AER variable (Includes a bonus )
FSCS logo
protected
Open via: branch, website, post, telephone
Go to site
View details
HSBC – Loyalty Cash ISA - Current Account customers
Cash ISA
Instant access
£1
2.85% AER variable (Includes a bonus )
FSCS logo
protected
Open via: branch, website, post, telephone
Go to site
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HSBC – Premier Savings
Variable
Instant access
£1
2.25% AER variable
FSCS logo
protected
Open via: branch, website, telephone
Go to site
View details
HSBC – Online Bonus Saver
Variable
Instant access
£1
2% AER variable
FSCS logo
protected
Open via: website
Go to site
View details
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Cash ISAs

Table: sorted by interest rate
HSBC's best cash ISA rate of 3.2% is significantly lower than today's market-best rate of 5.71%.
Name Product Interest rate Minimum investment Interest paid Withdrawals Deposit protection Open via Incentive Table product description Apply link
HSBC – Loyalty Cash ISA - Premier customers
3.2% AER variable (Includes a bonus )
£1
Monthly
Instant access
FSCS logo
protected
Open via: branch, website, post, telephone
Go to site
View details
HSBC – Loyalty Cash ISA - Current Account customers
2.85% AER variable (Includes a bonus )
£1
Monthly
Instant access
FSCS logo
protected
Open via: branch, website, post, telephone
Go to site
View details
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Fixed-rate bonds

Table: sorted by interest rate
HSBC's best fixed-rate bond rate of 5.2% is slightly lower than today's market-best rate of 5.85%.
Name Product Interest rate Invest Interest paid Withdrawals Open via Deposit protection Open via Incentive Table product description Apply link
HSBC – Fixed Rate Savings
5.2% AER fixed for 1 year
£2,000 - £1,000,000
On maturity
Withdrawals not permitted
Branch, website, telephone
FSCS logo
protected
Open via: branch, website, telephone
Go to site
View details
HSBC – Fixed Rate Savings
5.2% AER fixed for 1 year
£2,000 - £1,000,000
Monthly
Withdrawals not permitted
Branch, website, telephone
FSCS logo
protected
Open via: branch, website, telephone
Go to site
View details
HSBC – Fixed Rate Savings
4.85% AER fixed for 2 years
£2,000 - £1,000,000
Monthly
Withdrawals not permitted
Branch, website, telephone
FSCS logo
protected
Open via: branch, website, telephone
Go to site
View details
HSBC – Fixed Rate Savings
4.85% AER fixed for 2 years
£2,000 - £1,000,000
Anniversary of account opening
Withdrawals not permitted
Branch, website, telephone
FSCS logo
protected
Open via: branch, website, telephone
Go to site
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Regular savings accounts

Table: sorted by interest rate
HSBC's best regular savings account rate of 5% is significantly lower than today's market-best rate of 8%.
Name Product AER Save Withdrawal notice Interest paid Deposit protection Open via Incentive Apply link
HSBC – Regular Saver
5% fixed for 1 year (on first £3,000)
£25 to £250 per month
1 year bond
On maturity
FSCS logo
protected
Open via: branch, website, telephone
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Business savings accounts

Table: sorted by interest rate
HSBC's best business savings account rate of 1.96% is significantly lower than today's market-best rate of 5.7%.
Name Product Interest rate and type Interest paid Invest Term Open via Incentive Table product description Apply link
HSBC – HSBC Kinetic Savings Account
1.96% AER variable
Monthly
£1 - £99,999
Instant access
Open via: mobile app
Go to site
View details
HSBC – Business Money Manager
1.96% AER variable
Monthly
£1 - £99,999
Instant access
Open via: branch, website, telephone
Go to site
View details
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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

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

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Our customer satisfaction scores ("Customers say") are based on a survey of 2,224 customers carried out in December 2022.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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