Savings

Fixed Rate Savings

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The future's looking good

If you have a lump sum you'd like to save for a large purchase - a house deposit perhaps, or maybe a dream wedding - wouldn't it be great to sit back and relax, knowing what rate your savings are earning in advance? Well, our Fixed Rate Savings offers rates of between 1.00% AER/gross and 1.20% AER/gross on lump sum balances of between £2,000 and £1 million over a fixed term, (see below for details). We'll pay your interest in full at the end of the fixed term. Deposit matures on 30 November 2015.

  • you can save lump sums of between £2,000 and £1 million
  • you can have more than one Fixed Rate Savings per person, however please note that the interest rates quoted are per bond
  • a range of fixed interest rates depending on deposit (see below for details)
  • know exactly how much interest you'll earn over the fixed term
  • no partial withdrawals allowed
  • withdrawals in full before the end of the term will incur a fee of £100. Depending on when the withdrawal is made, you may get back less than originally deposited.

 

Fixed Rate Savings at a glance

If you have a lump sum of at least £2,000 to save and you're prepared to save it with us for a fixed term, you might be interested in our Fixed Rate Savings. 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 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
Product Name

Fixed Rate Savings Bond.

Interest rates

Interest is paid at maturity, or when you withdraw all your money if earlier. A new bond will usually be released monthly however we reserve the right to withdraw a bond from sale at any time.

Interest rates may vary between issues.

see our interest rates and charges information for full details

To participate in a particular issue we must receive your application before the issue's start date. Maturity dates are specific to each issue.

Tax status

Interest is paid after the deduction of basic rate income tax unless you are eligible to receive gross interest and where necessary have provided us with the correct documentation. If you are a higher rate tax payer you may have to pay additional tax to HM Revenue and Customs.

Conditions for bonus payment

No bonus payments on the Fixed Rate Savings Bond.

Withdrawal Arrangements

Your money is deposited for a fixed term.

There is no cancellation period.

Partial withdrawals are not permitted.

Withdrawals in full before the end of the term are permitted but we will charge you a fee of £100 and your products will be closed.

Depending on when the withdrawal is made, you may get back less than originally deposited.

Access

Fixed Rate Savings can be applied for via Internet Banking or by telephone.

You must hold a first direct 1st Account which you must maintain for the fixed term.

Once open you can view your Fixed Rate Savings via Internet Banking and manage by telephone.

 

Other things you should know

 

How much can I save?

You can save a lump sum between £2,000 and £1 million in this fixed term bond. This is a lump sum savings bond, so you can't add more to it once you've opened it. However, you can always open another Fixed Rate Savings. Please note that the interest rates quoted are per bond.

How to manage my Fixed Rate Savings

Once you've opened your Fixed Rate Savings, you can either view it online or manage it by telephone if you prefer.

How to apply

To get started, you just need to hold a first direct 1st Account which you must maintain for the fixed term. You can apply via Internet Banking or by telephone, but to participate in a particular issue we must receive your application before the issue's start date. Maturity dates are specific to each issue.

What else should I know?

You can open as many Fixed Rate Savings as you want to, however please note that the interest rates quoted are per bond.
Fixed Rate Savings is a tranched product. A new bond will be released monthly. Interest rates may vary between issues.

 

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.

 

Apply

 

 

How to apply for a Fixed Rate Savings

Already a customer?

Log on to apply

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

If you haven't yet registered for Internet Banking, simply click on the link below and follow the on-screen instructions.

Please note: You will need to have registered for telephone banking before you can access Internet Banking. You can do this by calling us on 08 456 100 100.

Register for Internet Banking

Not yet a customer?

To open a Fixed Rate Savings 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

Online applications can only be made in your sole name and if your address is in the UK. If you would like to apply for a joint Fixed Rate Savings, please call us on 08 456 100 100. If applying for a Fixed Rate Savings from outside the UK call +44 113 234 5678.

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.