HSBC Online Bonus Saver
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Start saving with just £1. That's all you need to open an account and there is no maximum balance on this account. Please note that accounts are limited to one per customer.
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Get a higher rate on balances of up to £50,000. If you have more than £50,000 in your account, we pay a lower interest rate on the amount above that – see our interest rates.
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Bonus interest, calculated daily. When you qualify for a bonus interest payment, it's calculated on the daily balance and paid monthly.
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Open your account online only. Once opened, you can manage it online, on the app, using phone banking or in any of our branches. That means you can access your funds any time you need them.
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Use to reach your savings goals. Set up and track your savings goal in the HSBC Mobile Banking app.
Open an Online Bonus Saver today
Please read the important product information and check eligibility before you apply.
Summary box
What is the account name?
Online Bonus Saver
What is the interest rate?
| Balance | Standard Rate | Interest Rate including bonus |
|---|---|---|
| Up to £50,000 | 2.00% AER / 1.98% gross | 4.00% AER / 3.93% gross |
| Over £50,000 | 2.00% AER / 1.98% gross | 2.30% AER / 2.28% gross |
| Balance | Up to £50,000 |
|---|---|
| Standard Rate | 2.00% AER / 1.98% gross |
| Interest Rate including bonus | 4.00% AER / 3.93% gross |
| Balance | Over £50,000 |
| Standard Rate | 2.00% AER / 1.98% gross |
| Interest Rate including bonus | 2.30% AER / 2.28% gross |
| Balance | Standard Rate | Interest Rate including bonus |
|---|---|---|
| Up to £50,000 | 1.75% AER / 1.74% gross | 4.00% AER / 3.93% gross |
| Over £50,000 | 1.75% AER / 1.74% gross | 2.30% AER / 2.28% gross |
| Balance | Up to £50,000 |
|---|---|
| Standard Rate | 1.75% AER / 1.74% gross |
| Interest Rate including bonus | 4.00% AER / 3.93% gross |
| Balance | Over £50,000 |
| Standard Rate | 1.75% AER / 1.74% gross |
| Interest Rate including bonus | 2.30% AER / 2.28% gross |
Interest is calculated daily and credited to the account monthly.
The standard rate of interest is paid in any month where a withdrawal is made or you close your account.
The interest rate including bonus is paid in any month where you don't make a withdrawal or don't close your account.
Balances up to £50,000 will earn the higher rate of interest. Only the part of the balance above £50,000 will earn the lower rate of interest.
Can HSBC change the interest rate?
Yes, we can change the interest rate on this account in line with the account's Terms and Conditions.
What would the estimated balance be after 12 months based on a range of deposits?
| Initial Deposit | Rate Type | Interest Rate | Balance at end of 12 months |
|---|---|---|---|
| £1,000 | Standard Rate | 2.00% AER / 1.98% gross | £1,020.00 |
| £1,000 | Interest rate including bonus |
4.00% AER / 3.93% gross | £1,040.00 |
| £60,000 | Standard Rate |
2.00% AER / 1.98% gross | £61,200.00 |
| £60,000 | Interest rate including bonus |
4.00% AER / 3.93% gross on first £50,000 then 2.30% AER / 2.28% gross on any balance over £50,000 | £62,230.00 |
| Initial Deposit | £1,000 |
|---|---|
| Rate Type | Standard Rate |
| Interest Rate | 2.00% AER / 1.98% gross |
| Balance at end of 12 months | £1,020.00 |
| Initial Deposit | £1,000 |
| Rate Type |
Interest rate including bonus |
| Interest Rate | 4.00% AER / 3.93% gross |
| Balance at end of 12 months | £1,040.00 |
| Initial Deposit | £60,000 |
| Rate Type |
Standard Rate |
| Interest Rate | 2.00% AER / 1.98% gross |
| Balance at end of 12 months | £61,200.00 |
| Initial Deposit | £60,000 |
| Rate Type |
Interest rate including bonus |
| Interest Rate | 4.00% AER / 3.93% gross on first £50,000 then 2.30% AER / 2.28% gross on any balance over £50,000 |
| Balance at end of 12 months | £62,230.00 |
| Initial Deposit | Rate Type | Interest Rate | Balance at end of 12 months |
|---|---|---|---|
| £1,000 | Standard Rate | 1.75% AER / 1.74% gross | £1017.50 |
| £1,000 | Interest rate including bonus |
4.00% AER / 3.93% gross | £1040.00 |
| £60,000 | Standard Rate |
1.75% AER / 1.74% gross | £61,050.00 |
| £60,000 | Interest rate including bonus |
4.00% AER / 3.93% gross on first £50,000 then 2.30% AER / 2.28% gross on any balance over £50,000 | £62,230.00 |
| Initial Deposit | £1,000 |
|---|---|
| Rate Type | Standard Rate |
| Interest Rate | 1.75% AER / 1.74% gross |
| Balance at end of 12 months | £1017.50 |
| Initial Deposit | £1,000 |
| Rate Type |
Interest rate including bonus |
| Interest Rate | 4.00% AER / 3.93% gross |
| Balance at end of 12 months | £1040.00 |
| Initial Deposit | £60,000 |
| Rate Type |
Standard Rate |
| Interest Rate | 1.75% AER / 1.74% gross |
| Balance at end of 12 months | £61,050.00 |
| Initial Deposit | £60,000 |
| Rate Type |
Interest rate including bonus |
| Interest Rate | 4.00% AER / 3.93% gross on first £50,000 then 2.30% AER / 2.28% gross on any balance over £50,000 |
| Balance at end of 12 months | £62,230.00 |
For the purpose of this calculation, it is assumed:
- initial deposit of either £1,000 or £60,000
- no additional deposits
- no withdrawal made in any month for the interest rate including bonus calculation
- a withdrawal made in every month for the standard rate calculation (amounts withdrawn not shown for illustrative purposes)
- 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:
- aged 16 years or over
- hold an HSBC current or savings account
- able to manage your account online only
How to open the account:
- this account can only be opened in a sole name
- open an account via Online Banking only
Minimum/Maximum Balance:
- a minimum of £1 must be deposited to open the account
- there is no maximum balance on this account
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?
Yes, you have instant access to your account. However if you do make a withdrawal, you’ll receive the standard rate of interest (currently 2.00% AER / 1.98% gross) for that month.
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 paid before any tax (where applicable) has been deducted.
Rates correct as at 5 September 2024
How to apply
Apply online
If you are an existing HSBC customer with a current account or other savings account and are registered for online banking you can apply online in minutes.
If you have multiple tax residencies or are a non UK tax resident you cannot complete your application online, please telephone us to open an Online Bonus Saver account.
Not Registered for online banking yet?
It only takes a few minutes. Then, once you receive your security details you can apply online right away.
Additional information
Before applying, please take the time to read the following documents. You may also want to save them for future reference.
Frequently asked questions
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