Fixed Rate Savings Accounts

Secure your rate with our fixed accounts

51�Թ��
Savings accounts
Fixed rate savings accounts

Fix your savings, with a secured rate and a term to suit you

Don't need access to your money yet? One of our fixed rate savings accounts could be just what you're after. Open an account today, secure your rate and know what interest you will get at the end of the term.

The rate will not change throughout the duration of the term.

Get a higher rate of interest than instant access savings by fixing your money for a set term.

With our fixed accounts, you can choose between 1 year to 2 years.

You'll know exactly how much money you will get at maturity.

Tax-free savings, with a fixed rate for up to 13 months. For current account customers only.

Fixed for up to 13 months: 4.20% AER (4.20% tax-free)
Instant access: No (withdrawal restrictions and an early withdrawal fee may apply)

We calculate interest daily and credit this at the end of the fixed term.

Tax-free means free from UK Income Tax and Capital Gains Tax.

Save for 1 or 2 years. Deposit a lump sum from £2,000 up to £1 million. For current account and savings account customers only (not including Appointee/Executor Account, Loyalty Cash ISA or Regular Saver).

1-year term: 4.50% AER / gross
2-year term: 4.80% AER / gross
Instant access: No. Withdrawal restrictions apply

Interest is paid monthly or yearly and the rate is fixed.

Save between £25 and £250 every month with a 12-month fixed rate account. Available to customers with a current account (excluding Appointee/Executor Account).

Interest rate: 5.00% AER / gross
Instant access: No (restrictions apply)

Interest is paid after 12 months and the rate is fixed.

Find out how you can earn tax-free interest thanks to this handy allowance.

Read our tips on ways to start saving money.

Find out whether Individual Savings Accounts (ISAs) or savings accounts are the best way to help your money grow.

Frequently asked questions

This will depend on your provider and any restrictions they may have.

At HSBC you can withdraw all of the funds and close your account early, but you’ll have to pay a fee which will be the lower of:

The interest earned on the account, or
A maximum of 90 days' interest

A savings account lets you earn interest on the money you put away.

How much interest you earn depends on the amount you save and the interest rate.

You can access your savings online, on your phone or in-branch. Accessing your savings account online or through the app is the fastest way to do so.

It's a savings account which gives you a fixed rate of interest for a set period of time. This can range from a number of months to years.

At HSBC you can choose to save between 1 and 2 years.

Customers can only hold one Regular Saver and one Online Bonus Saver at a time. You can hold more than one HSBC Cash ISA. However, it’s important to note that you can only subscribe to one HSBC Cash ISA in the same tax year.

There is no limit on the amount of Fixed Rate Savings accounts or Flexible Saver accounts that one may open. For example, you may want to have separate accounts for long-term and short-term goals.

Savings accounts are generally considered very safe.

Your savings are protected by The Financial Services Compensation Scheme (FSCS). The FSCS protects up to £120,000, or up to £240,000 for joint accounts of the money you save, per UK-regulated bank or building society.

51�Թ��, HSBC Private Bank, first direct, M&S Bank and M&S Savings and Investments are all trading names of 51�Թ�� Bank plc and so if you hold deposits with us, M&S and first direct you’ll only be eligible for one claim up to the FSCS deposit limit.

Opening a savings account won't affect your credit score as you're not borrowing money.

Banks will only run a soft credit check when you open an account, which won't be recorded on your credit file. Your credit score will only be affected if a hard credit check is done.

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Additional information

AER stands for annual equivalent rate. This shows you what the interest rate would be if interest was paid and compounded once each year.

Gross is the rate of interest paid before any tax (where applicable) has been deducted.

Tax-free means it is paid free from UK Income Tax and Capital Gains Tax.

1. Thanks to the Personal Savings Allowance (PSA), basic rate taxpayers can earn up to £1,000 in interest each tax year without having to pay income tax on it. Higher rate (40%) taxpayers can earn up to £500 interest without paying income tax on it, while additional rate (45%) taxpayers aren't entitled to any PSA at all. The value of any tax benefits depends upon your individual circumstances. Tax rules may change in future.