Savings

Regular Saver Account

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A Regular Saver Account with an extraordinary rate

We've designed our Regular Saver for medium-term savers - perfect if you're saving up for something special, like a holiday or home improvements. It offers a fantastic 6.00% AER (gross 6.00% pa), and you can save £25 to £300 per month for a fixed term of 12 months – up to a maximum of £3,600 each year.

  • with our Regular Saver Account - save from a minimum of £25 up to a maximum of £300 each month, up to £3,600 per year during the 12 month fixed term
  • 6.00% AER (gross 6.00% pa) fixed for 12 months
  • if you saved £300 per month for 12 months, you'd receive returns of approximately £117 gross (£93 net) in interest after 12 months. Interest is calculated daily and paid on the 12 month anniversary after account opening
  • if you don't make the maximum subscription in any one month, just carry it forward to future months
  • no partial withdrawals. If the account is closed before the end of the fixed period, interest will be paid at the standard Savings Account variable rate
  • sole accounts only and one account per person allowed.

 

Regular Saver Account at a glance

Our Regular Saver Account is great if you want to save on a regular basis - you can save up to £3,600 with us over 12 months, with our highest rate of interest. 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
Account Name

Regular Saver Account.

Interest rates

Interest is paid at a fixed rate for 12 months so long as you make the required 12 monthly payments to the account from your first direct 1st Account.

Interest is paid on the anniversary of account opening.

The interest rate is 6.00% AER/gross fixed for 12 months. So if you saved £300 per month for 12 months, you'd receive returns of approximately £117 gross (£93 net) in interest after 12 months. Interest is calculated daily and paid on the 12 month anniversary after account opening.

On the anniversary of the date your Regular Saver was opened, your account will cease to be a Regular Saver.

If you have one of the following accounts with us in the same name as your Regular Saver, your money and any accrued interest will be transferred to that account:

  • Everyday e-Saver
  • Savings Account

If you have both of the above accounts listed we will transfer your money to the account which pays the highest rate of interest. If you do not have either of these accounts with us, your Regular Saver will be converted to a new Savings Account.

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

No bonus payments on this account.

Withdrawal Arrangements

During the 12 month term:

  • no partial withdrawals, however the account can be closed in full during this period. In the event of closure, we will pay interest on the balance of your account up to the date of closure at the same rate as would apply to an equivalent amount in our Savings Account or any account that replaces it.

After the 12 month term:

  • full and partial withdrawals are allowed without charge.
Access

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

 

Other things you should know

How much can I save?

You can start saving with £25 to £300 in the first month. After that, you can save between £25 and £300 a month by standing order for the remainder of the fixed 12 month term. If you don't save £300 in any given month, you can carry over any unused subscription to the following months. The maximum amount you can save over a year into this account is £3,600.

How to manage my account

You can access and manage your account online or by telephone, however, you can only amend your standing order payment over the phone.

How to apply

To apply for a Regular Saver 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 Regular Saver Account online, or by telephone on 08 456 100 100.

What else should I know?

The Regular Saver Account is a 12 month contract, so you can only withdraw your money at the end of one year. If you want to access your money before the end of the year you can, but you'll have to close the account. We will only pay interest on the balance of your account up to the date of closure at the same rate as would apply to an equivalent amount in our Savings Account or any account that replaces it.

This account is for sole account holders only, and only one account is allowed per person.

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.

 

Still need help? Try our list of frequently asked questions .

 

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How to apply for a Regular Saver 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 'Regular Saver Account' 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 Regular Saver 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

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.