You can close your account before the end of the 12 month term however you will receive interest up to the date of closure at our Flexible Saver rate. M&S Bank, which is also owned by HSBC, is still offering a regular saver at 5 per cent – so savers should act quickly in case this rate is reduced too. For full details on ISA limits, see our Cash ISA page. You can save up to a certain amount each tax year without having to pay tax on the interest you earn. This list is not exhaustive. To open a Regular Saver account, you must have one of these HSBC current accounts: Bank Account; Bank Account Pay Monthly; Graduate Bank Account; HSBC Premier; HSBC Advance; HSBC Student Bank Account; … HSBC has now updated its website to reflect the new 1.00 percent offering. All rights reserved. Particularly amid the ongoing financial crisis, a solid… Created Date: No interest is payable for balances over $1,000,000. We recognise the financial impact coronavirus is having and we’re doing everything we can to help. 14 April 2014 at 7:40PM edited 30 November -1 at 12:00AM in Savings & Investments. Tax benefits depend on individual circumstances and could change in the future. 3 replies 4.3K views RyanEzio Forumite. Our website doesn't support your browser so please upgrade. Once your account is open, you can manage it in branch and online. And if you don't have any of these accounts, we'll convert your Regular Saver to a Flexible Saver. Log on to apply This link will open in a new window, Textphone contact numbers Opens in overlay, UK FSCS Information Sheet and Exclusions List (PDF, 578KB), UK FSCS Information Sheet and Exclusions List (PDF, 578KB) Download, Savings Brochure (PDF, 3.4MB) Savings brochure (PDF) Download, Interest Rates (PDF, 1.27MB) Interest Rates (PDF) Download, HSBC Personal Banking Terms and Conditions and Charges (PDF, 3.58MB), HSBC Personal Banking Terms and Conditions and Charges (PDF, 3.58MB) Download, Money Advice Service This link will open in a new window, Follow HSBC UK on Facebook This link will open in a new window, Follow HSBC UK on Twitter This link will open in a new window, Follow HSBC UK on YouTube This link will open in a new window, Our website doesn't support your browser so please upgrade, 3 Investment tips to navigate coronavirus volatility, View our service status to see how we're doing, Careers, media, investor and corporate information, no change to the interest rate during the 12 months, you must have one of the following HSBC current accounts: HSBC Premier, HSBC Advance, Bank Account, Bank Account Pay Monthly, HSBC Student Bank Account or Graduate Bank Account which you must maintain for the 12 month duration, if you have a HSBC Premier, HSBC Advance, Bank Account, Bank Account Pay Monthly, or Graduate Bank Account you can open an account via online banking, telephone banking or in branch, the maximum balance is £3,000 at the end of the 12 month term, regular deposits must be made from an HSBC current account by standing order each month, the minimum monthly deposit is £25 per month, the maximum monthly deposit is £250 per month, if you don't pay in the maximum allowed in any month, you can carry over the unused subscriptions and catch up in future months, once opened you can view your account balance via online banking, our HSBC Mobile Banking app, in branch or via telephone banking. If you’re registered for online banking and have a HSBC Premier, HSBC Advance, Bank Account, Bank Account Pay Monthly, Student Bank Account or Graduate Bank Account qualifying HSBC current account, you can log on to apply for the Regular Saver in just a few minutes. If you’re wondering how you could make the most of your savings when your Regular Saver ends, here are some options. It’s easy to get in touch online. The bank and its offshoot First Direct have cut the rate from 2.75 per cent to 1 per cent. M&S Bank is soon to close its 2.75% AER regular savings account to new customers – and it's possible its sister banks HSBC and First Direct could follow suit. You could save up to £3,000 at a fixed interest rate of 1% over 12 months. Hsbc Regular saver disappeared. Put money aside each month and watch your balance grow with an Regular Saver. When you have some extra cash to put aside each month, the HSBC Regular Saver is a great way to watch your balance grow. Find out HSBC Tax Saver Equity Fund asset allocation, HSBC Tax Saver Equity Fund NAV range, HSBC Tax Saver Equity Fund performance, returns and more. Keep in mind that each debt may have certain conditions you need to meet. The estimated balance after 12 months based on 12 regular monthly deposits of £25 and £250, For the purpose of this calculation, it is assumed:-. Please  check the information on our dedicated coronavirus hub page, which is updated regularly. I have switched to an HSBC Advanced account.If I open an HSBC regular saver do the incoming payments have to come from the Advanced account or can they come… You'll need a current account with the relevant bank to open a linked regular saver, and once open you can deposit £25-£250 a month with HSBC, or £25-£300 a month with First Direct. Discover our full range of savings accounts. Is the Saver opened straight away for you to make your deposit, or is their a delay? We’re also receiving far more calls than usual, so our wait times are longer. Please only call us if it’s urgent, so we can help those most in need. You can change the amount of your standing order via telephone banking. If you decide not to take any action, then when your account ends, we'll transfer your savings into your Flexible Saver or Premier Savings account. Not … You may also want to save them for future reference. The current interest rates are shown below: It’s easy to get in touch online. You can save up to £3,000 at a 2.75% interest rate that’s fixed for 12 months. It has said that due to very high demand, it is now taking longer than usual to open new Regular Saver accounts. If you have debts that are incurring high levels of interest, it may make sense to use some of your savings to pay them off. AER stands for Annual Equivalent Rate. You're not able to make partial withdrawals. 0. 23 October at 11:16PM edited 23 October at 11:17PM in Budgeting & Bank Accounts. You can access your money if you need to, however you should aim to invest for at least 5 years. See our Interest rates for current rates. 1 You'll get a fixed rate of 3% AER/gross if you're a Bank Account, Bank Account Pay Monthly, Student Bank Account or Graduate Bank Account customer. Eligibility criteria and fees apply. Up until last October, they paid 5 per cent, while as recently as 2016, First Direct offered 6 […] This means you’ll know exactly how much you’re going to earn over the course of the year. After the introductory period, the ongoing standard variable interest rate applies. Projection provided for illustrative purposes only and does not take into account individual circumstances. You can save up to £3,000 at 2.75% AER/Gross, that’s fixed for 12 months. Services in our branches and contact centres are currently limited because of the coronavirus outbreak. Qualifying HSBC Current Account customers can apply for a Regular Saver account by visiting one of our branches. Whatever your goals, putting money aside today could have a big impact on your future. If you have more than one of these accounts we'll pay your savings into the account which pays the best interest. See our ways to invest. If you’ve never invested before, our beginner’s guide is a good place to start. Reduction: Both First Direct & HSBC have cut their regular saver rates from 5% to 2.75% Up until 2016, First Direct offered an even higher 6 per cent rate on a regular saver. You'll get a fixed rate of 5% AER/gross if you're an HSBC Premier or HSBC Advance customer (providing you keep the account for the period you hold a Regular Saver with us). Yet if you have a current account with one of these banks already, there's still time to open a regular saver and lock in the 2.75% rate for a year. We do not deduct tax from any interest paid to you. The HSBC Regular Saver, the bank explains, is suitable for those who are hoping to make their money grow. If this is the case, you might want to consider moving your money into one of our other savings accounts. A 14 day cancellation period applies to this account. What goes around - comes around give lots and you will always receive lots. You can save between £25 and £250 per month by standing order for a fixed term of 12 months. Once you’ve received your security details, you’ll be able to apply for and manage a Regular Saver account online. Typically, it’s best to repay the debt with the highest interest rate first, as that’s costing you the most money. HSBC and First Direct slash Regular Saver rate from 2.75% to 1% - … Please only call us if it’s urgent, so we can help those most in need. gross is the rate of interest if interest were paid and not compounded each year. Receive regular coupons of 2.5% of your initial sum assured paid out every six months (starting from the end of the third year of your policy). 2 November at 6:20PM. Talk to us directly through our chat channels. See our help and support pages for guidance and to find out what you can do through online and mobile banking. HSBC and First Direct are used by millions of savers right across the country, who put their money away each year. This shows you what the gross rate would be if interest were paid and compounded each year. Earn a high rate of interest. If you have more than one of these accounts, we'll pay your savings into the account which pays the best interest. Regular Saver Fixed Rate Saver Fixed term savings products can offer higher rates of interest than accounts that give you instant access to your money, but you'll be putting your money away for a set period of time - usually something between 3 months and 3 years. Depending on your plans and goals, you may not want to lock your savings away in another Regular Saver, where you won’t be able to access the money for 12 months. Many Britons are looking to make their money grow, and so the most favourable interest rates are always being hunted for. HSBC's regular saver account scores well in our review, not least because you can carry over unused allowance into other months. whitesmith Forumite. At one point, customers switching their everyday banking to HSBC could bag £200 and could open its regular saver account paying 5% interest on up to £250 a month, fixed for a year. You can access your money before then, but you'll have to close the account. To have a regular saver you need to have a HSBC account. And if you don't have any of these accounts, we'll convert your Regular Saver to a Flexible Saver. Both let you carry your allowance over, so if you don't pay in the max each month, you can pay more in later. HSBC Regular Saver - Standard Rate. Regular saver accounts: HSBC and First Direct slash rates again | … You can find all our coronavirus guidance here. HSBC Regular Saver? Be aware though that you won’t be able to move the full balance of your matured Regular Saver into the new one immediately, as you can only pay in a maximum of £250 per month. All rights reserved. While First Direct and HSBC's regular savings accounts were among our top picks, they weren't offering the best rate, which is currently still available from NatWest and RBS. If you want to keep building your savings, our Fixed Rate Saver may offer a higher interest rate provided you are happy to lock away the funds for a 1 or 2-year period. The interest rate is fixed for 12 months and calculated on daily cleared balance and paid on the anniversary of account opening. Perhaps open another HSBC account first and transfer the standing order to that account before switching your main account. Or, reinvest your coupons to earn higher returns by accumulating ... C25810 263804 HSBC Goalsaver-FA.indd 2 4/18/12 11:29 AM. Your home may be repossessed if you do not keep up repayments on your mortgage. With an HSBC Regular Saver you can save between £25-250 each month for 12 months, with a fixed interest rate. If you already have a HSBC Premier, HSBC Advance, Bank Account, Bank Account Pay Monthly, Student Bank Account or Graduate Bank Account, you can register for online banking. Is this the end of the regular saver? You can apply to open a new Regular Saver once your current Regular Saver has matured. Talk to us directly through our chat channels. Britons can start saving from £25 a month, and can deposit between £25 and £250 into their account each month. HSBC Group  |   © Copyright HSBC Group 2002-2020. It introduces you to the key things you need to know about investing, along with the different ways you can get started. No, once your account is opened the rate will remain fixed for the 12 month term. You’ll just need to bring some identification and proof of your address. If you decide to close your account within the fixed term period of 12 months, you'll receive interest at our Flexible Saver rate. Find out how much you could borrow with a mortgage. HSBC cuts interest rate on new Regular Saver accounts from 5% … The 2.75 per cent rate now offered by HSBC and First Direct is fixed for a year. You can only hold one Regular Saver Account at any given time. DON’T MISS PIP: Claimants could be entitled to an extra £4,600 – eligibility [EXPLAINED] Available to HSBC Premier, HSBC Advance, Bank Account, Bank Account Pay Monthly, HSBC Student Bank Account or Graduate Bank Account customers. HSBC Tax Saver Equity Fund: Check HSBC Tax Saver Equity Fund Review on The Economic Times. Our Regular Saver Account is for 12 months so, as you'd expect, you can only withdraw your money after a year. Bear in mind, the value of investments and any income they generate can go down as well as up, meaning you may not get back what you invest. The sister banks offer 3.04% variable interest on their regular savings accounts, though you can only save a maximum of £50 a month, compared with £25 to £250 a month at HSBC and £25 to £300 at First Direct. Before applying, please take the time to read the following documents. You can apply to … To open a Regular Saver account, you must have one of these HSBC current accounts: Please note, we only allow one Regular Saver per customer. Get complete research on HSBC Tax Saver Equity Fund Growth Option Regular Plan. HSBC Regular Saver When you have some extra cash to put aside each month, the HSBC Regular Saver is a great way to watch your balance grow. Unfortunately we are unable to offer new products in branches or contact centres, or set up appointments at the moment. With these accounts, you can withdraw your money when you need it. With an HSBC Regular Saver you can save between £25-250 each month for 12 months, with a fixed interest rate. If you save £250 every month for 12 … Our investment services involve a one-off advice fee, along with applicable investment charges. HSBC Regular Saver - Standard Rate. Our website doesn't support your browser so please upgrade. Please read the important product information and check eligibility before you apply. 16 replies 1.1K views Our contact centres are extremely busy at the moment, please don’t call us unless it’s urgent. This means you’ll know exactly how much you’re going to earn over the course of the year. Keen to explore your options? A regular saver can be a good way to achieve a comparatively high interest rate and slowly build your savings pot. The best option for you will depend on your circumstances and what you want to achieve. If you haven't saved up to the £250 maximum in any given month, you can carry over any unused subscription to the following months. If you’ve opened a new account online recently, please allow extra time for your application to be processed as the queues are longer than usual – no need to call us, we’ll let you know when it’s ready to use. You may wish to speak with the Money Advice Service or seek independent financial advice before making any decisions. Get latest updates on Top Holdings, NAV, Mutual Fund Risk Return Analysis, Fund Manager Details, Comparision with other peers and Portfolio Allocation of HSBC Tax Saver Equity Fund Growth Option Regular Plan Interest is calculated daily and is credited at the end of the 12 month fixed term. You should aim to invest for at least 5 years. But since October 2019, the regular saver rate has … 100 posts. Check you won’t be charged for early repayments, or overpayments.   HSBC Group  |   © Copyright HSBC Group 2002-2020. Regular savings accounts 2020: 3% from RBS/NatWest; 2.75% … HSBC has once again chopped the rate on its popular regular saver account available to current account customers. HSBC Regular Saver is a great way to watch your balance grow, simply by putting aside some extra cash each month. No, you can not make partial withdrawals. HSBC UK offers 2.75 percent interest rate via savings account on … HSBC Regular Saver - Standard Rate. Follow HSBC UK on Facebook This link will open in a new window, Follow HSBC UK on Twitter This link will open in a new window, Follow HSBC UK on YouTube This link will open in a new window, Our website doesn't support your browser so please upgrade, View our service status to see how we're doing, Careers, media, investor and corporate information. The HSBC Regular Saver, the bank explains, is suitable for those who are hoping to make their money grow. If you do need access to your money early, please call us on 03457 404 404. At the end of 12 months we'll transfer your savings into your Instant Access Savings, Flexible Saver or Premier Savings. - MoneySavingExpert.com If a Regular Saver has worked for you, you might want to start building another pot of money straight away by opening a new Regular Saver. Maximum one Serious Saver Account per customer at any one time. If this happens we'll pay interest up to that day and you'll receive interest equivalent to our Savings Account or any account that replaces it. Having clear financial goals can help you make the best financial decisions. Eligibility criteria applies. The advice fee is payable from selected HSBC current or savings accounts so you’d need to hold one of these to access the services. Who has opened a HSBC Regular Saver recently/during covid-19 online? Find out more about tax efficient savings and how to make the most of your ISA allowance. It’s good to have something set aside for emergencies, but if there’s a large amount sitting in your savings account, you might be able to make more of your money. 1 Introductory offer will be applied to your first Serious Saver account opened with HSBC or if your previous Serious Saver account was closed more than 12 months ago. You can save up to £3,000 at a 2.75% interest rate that’s fixed for 12 months. HSBC and M&S Bank customers can both save between £25 and £250 a month – so up to an annual total of £3,000. A Flexible Saver or an Online Bonus Saver could be a good match if you want the option to start spending your money straight away. 14 April 2014 at 7:40PM edited 30 November -1 at 12:00AM in Savings & Investments. If you’re looking to make the most of your tax allowances, a Cash ISA could be up your street. You may get back less than you invest. Current Regular Saver you need to meet a month, and so the most of your address 263804 Goalsaver-FA.indd... 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Favourable interest rates are shown below: it’s easy to get in touch online than one our! Speak with the different ways you can only withdraw your money before then, but you 'll have close. Hsbc tax Saver Equity Fund Growth Option Regular Plan order to that account before switching your main account between. Our other savings accounts security details, you’ll be able to apply for a fixed rate!