Loyalty Cash ISA | Instant Access ISA HSBC UK

HSBC Loyalty Cash ISA

Open up your ISA in minutes and be rewarded for your loyalty.

Start with any amount from £1 and deposit up to £20,000 this tax year
Receive a loyalty rate for 12 months from the date of each payment into your ISA
Get the same rates when transferring in existing cash ISAs and stocks and shares ISAs
Make regular payments or lump sum deposits - it's your choice
Use to reach your savings goals. Set up and track your savings goal in the HSBC Mobile Banking app.

Open an HSBC Loyalty Cash ISA today

How to apply for a HSBC Loyalty Cash ISA

How to transfer in to a HSBC Loyalty Cash ISA

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

Available to HSBC Current Account customers only.

Reactivating your ISA
Combining your ISAs

Key product information

How it works

With the Loyalty Cash ISA, we reward you for your loyalty as long as you pay at least £1 into your ISA each year. This exclusive variable loyalty rate applies for 12 months from the date of each payment.

If you make further payments into your ISA, your loyalty rate period will begin again from the date of each payment. Upon the expiry of your Loyalty rate period, you will earn a standard rate of interest until you make a further payment.

You can start your ISA savings with any amount from £1. The overall annual ISA subscription limit is subject to change every year (currently £20,000). Within this, the Lifetime ISA has its own annual payment limit (currently £4,000).

Our ISA isn’t a flexible cash ISA, so any money withdrawn will not change how much of your annual ISA subscription limit you have already used. If you have fully subscribed, you will need to wait until the next tax year to subscribe more funds.

Summary box

Account name

Loyalty Cash ISA

What is the interest rate?

The current interest rates are shown below:
Account type	Loyalty rate	Standard rate
HSBC Premier	3.00% AER (2.96% tax-free)	2.20% AER (2.18% tax-free)
Other Current Accounts	2.50% AER (2.47% tax-free)	2.20% AER (2.18% tax-free)

The current interest rates are shown below:
Account type	HSBC Premier
Loyalty rate	3.00% AER (2.96% tax-free)
Standard rate	2.20% AER (2.18% tax-free)

Account type	Other Current Accounts
Loyalty rate	2.50% AER (2.47% tax-free)
Standard rate	2.20% AER (2.18% tax-free)

Interest is variable, is calculated daily and credited to the account monthly.

A Loyalty rate applies for 12 months from the date of each payment into your ISA. If you make further payments into your ISA, your Loyalty rate period will begin again from the date of each payment. Upon the expiry of your Loyalty rate period, you will earn a standard rate of interest until you make a further payment.

Can HSBC change the interest rate?

Yes. The account pays a variable rate of interest, which means it can change over time. The HSBC Cash ISA Terms and Conditions explain when and how we do this. For example, we might review the interest rate if the Bank of England base rate changes.

What would the estimated balance be after 12 months based on a £1,000 deposit?

The estimated balance after 12 months based on a £1,000 deposit would be as follows:
Initial deposit	Rate	Interest rate	Balance at the end of 12 months
£1,000	HSBC Premier Loyalty rate	3.00% AER (2.96% tax-free)	£1,030.00
£1,000	Other Current Accounts Loyalty rate	2.50% AER (2.47% tax-free)	£1,025.00
£1,000	Standard rates for all accounts	2.20% AER (2.18% tax-free)	£1,022.00

The estimated balance after 12 months based on a £1,000 deposit would be as follows:
Initial deposit	£1,000
Rate	HSBC Premier Loyalty rate
Interest rate	3.00% AER (2.96% tax-free)
Balance at the end of 12 months	£1,030.00

Initial deposit	£1,000
Rate	Other Current Accounts Loyalty rate
Interest rate	2.50% AER (2.47% tax-free)
Balance at the end of 12 months	£1,025.00

Initial deposit	£1,000
Rate	Standard rates for all accounts
Interest rate	2.20% AER (2.18% tax-free)
Balance at the end of 12 months	£1,022.00

For the purpose of this calculation, it is assumed:

initial deposit is £1,000
no further deposits
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:

aged 18 years or over
in addition, in order to subscribe you need to be resident in the UK for tax purposes, or if not so resident, be a UK Crown servant serving overseas, or be married to, or in a civil partnership with, such a person
hold an HSBC current account

How to open the account:

this account can only be opened in a sole name
open an account via online banking, in branch or by post
or you can transfer current and / or previous tax years' subscriptions by completing an ISA transfer form

Minimum/Maximum Balance:

a minimum of £1 must be deposited to open the account
the overall annual ISA subscription limit is subject to change every year (currently £20,000). Within this, the Lifetime ISA has its own annual payment limit (currently £4,000)
you can only subscribe to one type of cash ISA and one type of stocks and shares ISA in the same tax year across HSBC and first direct
no maximum balance

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. You can make as many fee-free withdrawals as you like. However, as our ISA isn’t a flexible cash ISA, any amount withdrawn will not change how much of your annual ISA subscription limit you have already used. If you have fully subscribed, you will need to wait until the next tax year to subscribe further funds.

If you withdraw funds from your ISA you will lose the associated future tax benefits associated with holding that money in an ISA.

Additional Information

A 30 day cancellation period applies to this account.

Interest is paid tax-free, that means it is paid free from UK Income Tax and Capital Gains Tax.

The value of tax benefits provided by a cash ISA depends on your personal circumstances, and tax treatment of ISAs could change in the future.

Subscribing to a cash ISA with HSBC UK Bank plc may affect your eligibility to subscribe to a HSBC Help to Buy: ISA

Definitions

AER stands for Annual Equivalent Rate. This shows you what the gross rate would be if interest were paid and compounded each year
tax free, free from personal liability to any UK Income Tax and Capital Gains Tax
ISA stands for Individual Savings Account

Rates correct as at 11 December 2024

How to apply

To open an HSBC Loyalty ISA, you need to be:

aged 18 or over
resident in the UK for tax purposes (Crown Servants – typically diplomats or members of the Armed Forces serving abroad and/or their spouses/civil partners – are also eligible)
not already subscribing to another cash ISA in the current tax year
an existing HSBC current account holder

Apply online

Registered for online banking?

You can apply online in minutes if you already have an HSBC current account (other than a Basic Bank Account) and are registered for online banking.

You’ll need to contact us to apply if you:

have a Basic Bank Account with us
need to update your tax residency or have multiple tax residencies
are a non-resident UK Crown servant serving overseas, or be married to, or in a civil partnership with, such a person

Log on and apply for HSBC Loyalty Cash ISA

Not registered yet?

It only take a few minutes and once you receive your security details you can apply online right away.

Prefer to apply in a branch?

It’s usually easiest to apply online, but if you need support, visit one of our branches and we’ll help you with your application.

Please bring your mobile phone with you (or a similar device, like a tablet) if you have one.

Find your nearest branch

Apply by post

Complete and submit your HSBC Loyalty Cash ISA form (PDF, 619KB) to:

HSBC UK Bank plc

Customer Service Centre,

BX8 1HB.

Reactivating your ISA

If you have an HSBC Loyalty Cash ISA and haven't added to it in the last year, you'll need to reactivate your ISA before you are able to top it up.

Our online reactivation form is the quickest way to do this.

You can also download an HSBC Loyalty Cash ISA Reactivation Form:

HSBC Loyalty Cash ISA Reactivation Form (PDF, 619 KB) Download

You’ll either need to return this to the address on the form, call in to your local branch, or give us a call.

Combining your ISAs

If you have more than one HSBC Loyalty Cash ISA, you can combine them.

Our online combination form is the quickest way to do this.

To transfer an existing HSBC Cash ISA to the HSBC Loyalty Cash ISA via phone please call us on 0345 7 404 404.

For Premier customers: 03457 707 070.

Alternatively you can book an appointment at your local branch.

We may monitor and record calls. This is for security reasons and to help us improve our service. Lines are open 7 days a week from 08:00 to 20:00 and 24 hours for Premier customers.

Additional information

Before applying, please take the time to read the following documents. You may also want to save them for future reference.

Important documents

Frequently asked questions

A cash ISA is an individual savings account, which allows you to save up to £20,000 tax-free in the current tax year.

Tax free means the interest you earn will be free from UK Income Tax and Capital Gains Tax.

There's no limit to the number of cash ISAs you can have, but banks or building societies may restrict the number you can open each year.

Your total savings across your ISAs can't be over £20,000 in the current tax year.

Yes, as long as your total savings for the tax year in cash ISAs and stocks and shares ISAs isn't over the current annual limit of £20,000.

Your balance might be higher than the current annual limit of £20,000 if you've saved over several tax years.

It depends on the type of cash ISA you open.

With a variable interest rate cash ISA, the interest rate you get on your savings can change. You're allowed to make withdrawals and pay money in whenever you need to (subject to the subscription limits).

With a fixed interest rate cash ISA, the interest rate you get on your savings stays the same during the term. If you need to withdraw money, your account may be closed and an early access charge applied. You may get less than you paid in if the charge is more than the interest you've earned.

Cash ISA age limit

From 6 April 2024, there are changes to how old you need to be to open a cash ISA.

To open a new cash ISA, you need to be either:

18 years old or over, or
Covered by the transitional arrangements for those aged 16 or 17 (as of 5 April 2024), which is in place until 5 April 2026

ISA providers aren't obliged to offer the transitional arrangements. HSBC won't allow customers under 18 to open a new cash ISA from 6 April 2024, but will consider changing this in the future.

Subscribing to more than one of the same type of ISA

If you're aged 18 or over, you'll now be able to subscribe to more than one of the same type of ISA in the same tax year – subject to staying within the overall annual limit.

For example, you could subscribe to a cash or stocks & shares ISA with one ISA provider and also subscribe to one with a different provider.

This change doesn’t apply to Lifetime ISAs, where it's still only possible to subscribe to one Lifetime ISA in a tax year. HSBC doesn't offer Lifetime ISAs.

From April 6 2024, ISA providers are not obliged to allow subscriptions to more than one ISA of the same type in the same tax year with themselves, and HSBC will not be offering this.

Other optional changes that not all providers are implementing

If you've gone a whole tax year without making a subscription to an existing ISA, you can now restart subscriptions without needing to complete a new application.

Since 6 April, some providers allow you to make a partial transfer of subscriptions made in the current tax year, but HSBC is not currently allowing this.

We'll update our website if we make any changes to our ISAs in the future.

Cash ISA

HSBC Loyalty Cash ISA

Open an HSBC Loyalty Cash ISA today

Key product information

How it works

Summary box

Account name

What is the interest rate?

Can HSBC change the interest rate?

What would the estimated balance be after 12 months based on a £1,000 deposit?

How do I open & manage my account?

Eligibility:

How to open the account:

Minimum/Maximum Balance:

How to manage the account:

Can I withdraw money?

Additional Information

How to apply

Are you eligible?

Apply online

Apply in branch, by post

Reactivating your ISA

Apply by post

Combining your ISAs

Apply in branch

Additional information

Important documents

Frequently asked questions

What's a cash ISA?

How many cash ISAs can I have?

Can you have more than one cash ISA and stocks and shares ISA?

How do cash ISAs work?

How are ISAs changing in the 2024 / 2025 tax year?

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