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Protecting your money

Protecting your money. Find out how your eligible deposits are protected here by the Financial Services Compensation Scheme.

Bonus Savings Account

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A cash bonus - for literally doing nothing

Saving isn't always easy. So if you're saving up for a car or some other larger purchase, our Bonus Savings Account gives you a helpful incentive - a bonus rate for each month you don't make a withdrawal. So if you have £3,000 or more to save, sit back, relax, and let the rewards come to you.

  • bonus rate for any month you don't make a withdrawal
  • instant access if you need it by an internal transfer to your first direct current account
  • must maintain a minimum opening balance of £3,000
  • no maximum balance
  • sole accounts only and one account per person.

 

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Bonus Savings Account at a glance

If you're looking for a good reason to keep saving, our Bonus Savings Account offers you a bonus rate if you don't make a withdrawal. This information will give you a better idea of what's involved - though please make sure you read the Interest Rates and Charges and Terms and Conditions in the left hand menu before you apply.

Our downloads are in a PDF format. To read them you'll need to have Adobe Reader 4.0™ or above. It's free and you can get Adobe Reader here.

 

Summary box and Key Product Information
Account Name

Bonus Savings Account.
Interest rates

Tiered interest rates on balances above £3000.

Interest calculated daily and applied monthly.

See our interest rates and charges information for full details.
Tax status

Interest will be paid after the deduction of the basic rate of savings tax, currently 20%, unless you are eligible and have registered for non-taxable interest.
Conditions for bonus payment

Monthly bonus if the minimum balance of £3,000 is maintained and no withdrawals are made during that month.
Withdrawal Arrangements

Instant withdrawals can be made by transfer to another first direct account in your name, over the phone, or via Internet Banking. Transfers to other banks may take longer.
Access

You must already hold a first direct 1st Account to apply for a Bonus Savings Account. The account can be operated online, by telephone or by post.

 

Other things you should know

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How much can I save?

Our Bonus Savings Account is exclusive to savers with £3,000 or more to save - there's no upper limit. You must maintain a minimum of £3000, in the savings account. If your savings drop below £3,000, you won't earn any interest.
How to manage my account

The Bonus Savings Account can be operated 24 hours a day online, by telephone or by post. You can make instant internal transfers to any other first direct account. Transfers to accounts held elsewhere may take longer.
How to apply

To apply for a Bonus Savings Account you must already hold a first direct current account - our 1st Account. If you already have a 1st Account, you can apply for a Bonus Savings Account online or by telephone on 08 456 100 100.
What else should I know?

Available as a sole account only and limited to one account per customer.

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 interest rate before the deduction of tax applicable to interest on savings accounts.

 

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How to apply for a Bonus Savings Account

Already a customer?

You can apply online through your Internet Banking. As you're currently logged in, just select Apply online from the left hand menu within Internet Banking

Log on to apply

Once you've logged on to Internet Banking, just select 'Apply', and choose 'Bonus Savings' from the left hand menu.

If you haven't yet registered for Internet Banking, simply click on the link below and enter your support and access ID details. If you haven't received your support and access IDs, please call us on 08 456 100 100.

Register for Internet Banking

Not yet a customer?

To open a Bonus Savings Account you will also need to open a first direct 1st Account, our current account.

Learn more about the 1st Account

You can also talk to us anytime on:
0800 24 24 24

Before you apply, please read the following:-

first direct Account Terms and Conditions

Give me the facts


Important Notes


Interest rates and charges

Please print and save a copy for your records.

Our downloads are in a PDF format. To read them you'll need to have Adobe Reader 4.0™ or above. It's free and you can get Adobe Reader here.

You can find general information about financial products and managing your money on the Money Advice Service ™ website.

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Protecting your money

Your eligible deposits with HSBC Bank plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. This limit is applied to the total of any deposits you have with HSBC Bank plc and first direct.

Any total deposits you hold above the £85,000 limit between HSBC and first direct are not covered.

 

 

 

 

 

Our downloads are in a PDF format. To read them you'll need to have Adobe Reader 4.0™ or above. It's free and you can get Adobe Reader here.

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