HSBC Premier Savings
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Available to Premier customers only
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Open an account with £1. How much you save is up to you – with no maximum limit
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Access your money instantly. No notice is needed, and you can transfer funds instantly
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Save the way you want. You can put away a lump sum, make a regular standing order or just make payments when it suits you
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See your money grow. Premier Savings pays you interest every month
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Manage your money anytime. Once opened, you can manage your account via online, mobile and phone banking or by visiting us in branch
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Use to reach your savings goals. Set up and track your savings goal in the HSBC Mobile Banking app.
Apply for a Premier Savings Account
Please read the important product information and check eligibility before you apply.
Summary box
What is the account name?
HSBC Premier Savings
What is the interest rate?
| Balance | Interest Rate |
|---|---|
| All balances | 2.00% AER / 1.98% gross |
| Balance | All balances |
|---|---|
| Interest Rate | 2.00% AER / 1.98% gross |
- Rate also applies to all cash within the Premier Investment Management Service (PIMS) and Trust Services including Trust Discretionary Investment Services (TDIS).
| Balance | Interest rate |
|---|---|
| Below £50,000 | 1.75% AER / 1.74% gross |
| £50,000 to £100,000 | 1.85% AER / 1.83% gross |
| Over £100,000 | 2.00% AER / 1.98% gross |
| Balance | Below £50,000 |
|---|---|
| Interest rate | 1.75% AER / 1.74% gross |
| Balance | £50,000 to £100,000 |
| Interest rate | 1.85% AER / 1.83% gross |
| Balance | Over £100,000 |
| Interest rate | 2.00% AER / 1.98% gross |
- If you have a balance within the Premier Investment Management Service or a Trust Service, such as Trust Discretionary Investment Services, you’ll receive a single rate of 2.00% AER / 1.98% gross.
Interest is calculated daily and is credited to the account monthly.
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 £1,000 deposit?
| Initial deposit |
Interest rate |
Balance at the end of 12 months |
|---|---|---|
| £1,000 | 1.75% AER / 1.74% gross | £1,017.50 |
| £50,000 | 1.85% AER / 1.83% gross | £50,295.00 |
| £100,000 | 2.00% AER / 1.98% gross | £102,000.00 |
| Initial deposit |
£1,000 |
|---|---|
| Interest rate |
1.75% AER / 1.74% gross |
| Balance at the end of 12 months | £1,017.50 |
| Initial deposit |
£50,000 |
| Interest rate |
1.85% AER / 1.83% gross |
| Balance at the end of 12 months | £50,295.00 |
| Initial deposit |
£100,000 |
| Interest rate |
2.00% AER / 1.98% gross |
| Balance at the end of 12 months | £102,000.00 |
For the purpose of this calculation, it is assumed:
- initial deposits of £1,000, £50,000 or £100,000
- 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
- an HSBC Premier customer
How to open the account:
- this account can be opened in sole or joint names
- open an account via online banking or in branch
Minimum/Maximum Balance:
- a minimum of £1 must be deposited to open an account
- there is 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.
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 11 December 2024
How to apply for HSBC Premier Savings
Existing HSBC Premier customers
Apply online
You can apply online in minutes if you're an existing HSBC Premier customer registered for online banking.
You’ll need to contact us to apply if you:
- want to open a joint account
- have multiple tax residencies or are a non-UK tax resident
Not registered for online banking yet?
If you already have a qualifying HSBC Premier account, you can register in minutes. Once you get your security details, you can apply for an HSBC Premier Savings account online.
Not an HSBC Premier customer?
To access our premium range of banking services you need to have an HSBC UK Premier Bank Account.
Financial and other eligibility criteria apply.
I already bank with HSBC
I'm not an HSBC customer
Call us: 0800 328 1296
From outside the UK: +44 1226 260 260
Lines are open 08:00 - 20:00 every day
(except for Christmas Day, Boxing Day and New Year's Day.
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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