Terms and Conditions
You must hold a first direct 1st Account, our current account, be aged 18 years or over and a UK resident to apply for any of our Savings accounts.
Regular Saver Account
*2 For the purpose of this calculation it is assumed monthly deposits of £250, no withdrawals and the interest rate remains the same during the 12 months.
Monthly deposits made on the 1st of each month.
Save £25 to £300 every month with our 12-month fixed rate account. Interest is calculated daily and paid after 12 months and the rate is fixed . You won’t be able to make partial withdrawals at any time during the 12 months. You can choose to close your account early, but if you do we’ll only pay you interest at our standard Savings Account variable rate. Interest is calculated daily and paid on the 12-month anniversary of account opening.
Savings Account
*3 For the purpose of this calculation it is assumed an initial deposit of £3,000 and then no additional deposits, no withdrawals and the interest rate remains the same during the 12 months. Interest is calculated daily and credited monthly.
Bonus Savings Account
*4 For the purpose of this calculation it is assumed an initial deposit of £3,000, no additional deposits, the interest rate remains the same during the 12 months, and that no withdrawals are made in any of the 12 months.
You can get instant access to your funds without charge if you need to, though bonus interest won't apply during the calendar month of withdrawal. Interest is calculated daily and credited monthly.
Fixed Rate Savings
*5 For the purpose of this calculation it is assumed an initial deposit of £3,000, no additional deposits or withdrawals, the interest rate remains the same for the duration of the term and all deposits are fixed for between 12-13 months (depending when the account is opened).
No partial withdrawals are permitted. You can close your account before the end of the fixed term for a fee of £100. Interest will be paid up to the date of closure. However depending on when the account is closed you may get back less than you deposited.
Cash ISA
*1 Tax-free means free from UK Income Tax and Capital Gains Tax.
*6 For the purpose of this calculation it is assumed an initial deposit of £1,000, no additional deposits, no withdrawals and the interest rate remains the same during the 12 months.
*7 Our ISA isn’t a flexible cash ISA, so any amount withdrawn will not change how much of your annual ISA subscription limit you have already used.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.
Interest is calculated daily and credited monthly. The value of any tax benefits depends on your individual circumstances. Tax rules may change in the future.
If you withdraw funds from your ISA, you’ll lose the future benefits of continuing to hold the amount withdrawn in an ISA.
The overall ISA subscription limit is £20,000 for the current tax year, within this the Lifetime ISA has it's own annual payment limit (currently £4000).
You can only subscribe to one type of cash ISA and one type of stocks and shares ISA across HSBC UK and first direct.
All projection provided above are for illustrative purposes only and does not take into account individual circumstances.