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HSBC Serious Saver

HSBC Serious Saver

Maximum Variable Rate


Standard Variable Rate

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Earn a competitive 1.85% p.a. for the first 4 months after opening this savings account.

  • Introductory rate of 1.85% p.a. for 4 months when you make no withdrawals
  • Reverting to 0.01% p.a after 4 months when you make no withdrawals
  • Available on balances up to $1 million
  • 24/7 account access using phone, online or mobile banking

Product details

The HSBC Serious Saver offers a competitive bonus interest rate of 1.85% p.a. on your savings for the first 4 months after opening the account when you make no withdrawals. After this, you'll continue to be rewarded with interest on your balance each month you make no withdrawals.


This account offers a great incentive to keep your savings in the bank. You'll earn interest each month you make no withdrawals.

Product Name
HSBC Serious Saver
Maximum Variable Rate
1.85% p.a.
Standard Variable Rate
0.01% p.a.
Bonus Variable Rate
1.84% p.a.
Introductory / Bonus Offer Conditions
Earn 1.85% p.a. variable interest rate for the first 4 months when you don't make a withdrawal between 28th of the month up to the 27th of the next month. Applies on balances up to $1,000,000.
Monthly Fee
Minimum Opening Deposit
Introductory Interest Period
4 month(s)
Internet Banking
Internet Transaction Fee
Phone Banking
Phone Transaction Fee
Joint application?
Minimum Age Requirement
Maximum Age Requirement
No Maximum Age
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the features of the HSBC Serious Saver?

There are a number of features and benefits to look at with the HSBC Serious Saver in addition to the competitive interest rates when you are making comparisons with other banks savings accounts:

$0 Monthly account fees

You are charged $0 monthly maintenance fees for using your Serious Saver savings account.

Introductory bonus interest rate of up to 1.85% p.a. on the first 4 months on your first HSBC Serious Saver

For the first 4 months after you open your savings account, you'll receive the maximum variable rate of 1.85% p.a. To be eligible for this special rate, you can't make any withdrawals from the account (this includes transferring money to another HSBC account in your name). Once the introductory period ends, the interest rate goes back to the standard 0.01% p.a.

Standard interest rate of 0.01% p.a. if you don't withdraw

After the four month introductory period, the base interest rate of 0.01% p.a. will be applied to your account monthly so long as you make no withdrawals from your account between 28th of the month to the 27th of the next month. If you make any money transfers out of your account, there will be no interest applied for that month. Interest is available on balances up to $1 million.

Access your account online

The HSBC Serious Saver is an online account that can be accessed from anywhere at any time by using Internet banking, phone banking or the mobile app. If you link the HSBC Serious Saver to a HSBC Day to Day Account, the transfers are instant. But remember, if you transfer money from the Serious Saver to the Day to Day account you won't earn any interest that month.

$0 transaction fees

You are not charged by HSBC for transferring money in or out of your savings account.

No deposit requirement

There is no minimum monthly deposit required in order to receive interest on your balance.

Calculating interest

Interest is calculated daily and paid monthly only on balances of up to $1,000,000 It is a variable interest rate, so will most likely move alongside the RBA cash rate.

Initial deposit

There is no minimum requirement for your opening deposit.

No minimum balance

You are not required to maintain a minimum balance on this account.


You'll automatically receive a statement every 6 months – you can request to change to monthly or quarterly, or even switch to online statements.

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  • $0 account keeping fee
  • Introductory rate of 1.85% p.a. for 4 months
  • Available on balances up to $1,000,000


  • Interest rate reverts to 0% when you make a withdrawal in the month

How do I apply for the HSBC Serious Saver?

If you have decided that this is the ideal way for you to reach your savings goal, click ‘go to site’ to be taken to a secure application page.

Online eligibility requirements

Before doing so, check that you are able to meet the following eligibility requirements:

  • Age requirement. You must be at least 18 years of age in order to be considered for this account.
  • Residency requirement. Only Australian residents or citizens with a valid Australian residential address may open a Serious Saver account from HSBC.

Online verification requirements

If you determine that you can meet these conditions you can gather the following documentation that will be needed to help complete the form and continue to the application:

  • Identification documentation. A valid driver’s licence, passport, birth certificate or Medicare card is needed in order for HSBC to verify your identity. If HSBC is unable to verify your identity electronically you will be asked to do so in person.
  • Account details. You will need to provide information about your transaction account, including its number, so that you can be prepared for transferring funds between accounts.
  • Personal information. Your full name, date of birth and physical address will all be required while filling out the application.

What happens after I apply?

Filling out the online application should take approximately five minutes. Once complete it will be submitted to HSBC who will contact you within two business days. At that time they will provide you with the details of your account so that you may begin making your savings deposits.

What if I'm not eligible to apply online?

If you're moving to Australia or currently a non-resident, you can apply for this account through HSBC migrant services. If none of the above situations apply to you, it's best to visit a local HSBC branch.

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52 Responses

  1. Default Gravatar
    MariusFebruary 11, 2020

    I would like to open an HSBC Serious Saver Account. Can I withdraw the money after 4 months when the bonus interest finishes?

    Thank you.

    • Avatarfinder Customer Care
      AshFebruary 12, 2020Staff

      Hi Marius,

      Thanks for contacting Finder.

      Yes, you may withdraw your funds from the HSBC Serious Saver Account after you have received the 4 months introductory maximum interest rate of 2.35% p.a.

      Kindly take note that within the first 4 months, you must not make any withdrawals to receive the maximum interest rate.

      I hope this helps.


  2. Default Gravatar
    RoseOctober 31, 2019

    If I want to open a Serious Saver Account will I be considered a new customer if I have previously held an HSBC account in UK but not in Australia?

    • Avatarfinder Customer Care
      NikkiOctober 31, 2019Staff

      Hi Rose,

      Thanks for getting in touch!

      As HSBC UK and AU are separate entities, you are considered a new customer. As a friendly reminder, review the eligibility criteria, fees, interest rates, and terms & conditions of the HSBC Serious Saver Account before applying. You may also contact HSBC should you have any questions about their product.

      Hope this helps!


  3. Default Gravatar
    PriitJuly 24, 2019

    Is Serious saver account can be opened as a joint account? What documents we could provide to prove our identity , if we are not citizens? Can we come in different times to prove our identity while open the account?

    • Avatarfinder Customer Care
      NikkiJuly 24, 2019Staff

      Hi Pritt,

      Thanks for getting in touch! Yes, the HSBC serious Saver can be opened as a joint account. You can find the eligibility requirements of opening an account when you go to our page and clicking the “how to apply” tab. Also, only Australian residents or citizens with a valid Australian residential address may open a Serious Saver account from HSBC and you would have to apply together to open the account.

      Hope this helps!


  4. Default Gravatar
    ETJuly 11, 2019


    I had a HSBC Serious Saver account few years ago. Will I be eligible for this 2.85% introductory rate? At the end of the 4 months introductory period, when shall I transfer the money from Serious Saver to another account without loosing the interest for the month?


    • Avatarfinder Customer Care
      JeniJuly 13, 2019Staff

      Hi ET,

      Thank you for getting in touch with Finder.

      The introductory rate is for new customers only. If in the event that you become eligible for the introductory rate, you may transfer your earned interest to your other account after the first 4 months after opening the account.

      I hope this helps.

      Thank you and have a wonderful day!


  5. Default Gravatar
    BrodenFebruary 27, 2019

    If I close the account after 4 months will I be eligible for any future HSBC introductory rate should I later choose to open another new account with HSBC for instance after 12 months?

    • Avatarfinder Customer Care
      JeniMarch 1, 2019Staff

      Hi Broden,

      Thank you for getting in touch with Finder.

      Please note that the introductory offer is for new customers only. If you consider reopening this account, you will not be able to enjoy the rate again.

      I hope this helps.

      Thank you and have a wonderful day!


  6. Default Gravatar
    PeterFebruary 18, 2019

    Is the interest paid monthly or at the end of the 4 months? Can I close the account at the end of the 4 month period and what fees or charges apply for closing the account? This is an obvious question as I am happy to receive the 3.05% interest but of course, I will be transferring the money to another institution at the end of 4 months as the interest rate drops to <1.8%.

    • Avatarfinder Customer Care
      JoshuaFebruary 21, 2019Staff

      Hi Peter,

      Thanks for getting in touch with Finder. Those are interesting questions. :)

      First, the interest earned from this account is paid monthly. Generally, it is paid every 28th of the month, unless that day falls on a non-working day.

      Second, yes, you can close your account at the end of the fourth month. Closing your account is free and there’s no charge. To close your account, you would need to mail HSBC or visit their branch.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


  7. Default Gravatar
    KatrinaJanuary 21, 2019

    Hi! I’m looking for a term deposit account,what is the best return you can find me pls.

    • Avatarfinder Customer Care
      NikkiJanuary 22, 2019Staff

      Hi Katrina,

      Thanks for getting in touch! It’s helpful to know that as a product comparison website, we are not able to recommend one product for you but our pages will help you in that path and help you find ways to get what you need :) Here is our page on the best term deposits as of 2019. Take time to read the page and email us back if you need clarifications.

      As a friendly reminder, review the eligibility criteria of the term deposit before applying and read up on the terms and conditions of the product and contact the bank should you need any clarifications


  8. Default Gravatar
    JohnDecember 12, 2018

    I act for my sister, under Power of Attorney.
    My sister is currently suffering from severe memory loss and is in Aged Care while I manage her financial affairs.
    She has an amount of $400,000 that I wish to place in a savings account and have looked at various online bank interest rates and terms and feel that HSBC offers the most suitable terms. How do I proceed?

    • Avatarfinder Customer Care
      MayDecember 18, 2018Staff

      Hi John,

      Thanks for your inquiry and apologies for the delayed response.

      If you’re already sure to open an HSBC Serious Saver account for your sister, just click on the ‘Go to site’ button above to be redirected to HSBC’s main page and apply from there. Please also note of the requirements you’ll need to first secure by clicking on the ‘How to apply’ tab above.

      Just in case you may want to further check your other savings account options aside from HSBC, you may like to visit this page. Just use the calculator above the table and supply the required details to see the results for the interest earned then start comparing.

      I hope this has helped.


  9. Default Gravatar
    RobertDecember 3, 2018


    I’m thinking to open a serious saver account. Will I get 3.10% for the first 4 months if I deposit $750 000 and if I don’t make any withdrawals then after 4 months can I transfer my money elsewhere?

    • Avatarfinder Customer Care
      JeniDecember 9, 2018Staff

      Hi Robert,

      Thank you for getting in touch with finder.

      That would be fine if you choose to transfer your investment after the introductory period. There are no fees for moving to another savings account with another provider at any time.

      I hope this helps.

      Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!


  10. Default Gravatar
    ClaudiaNovember 13, 2018

    For the Serious Savings Account, if I wish to deposit >1m, is there a better rate offered?

    • Avatarfinder Customer Care
      JhezNovember 14, 2018Staff

      Hello Claudia,

      Thank you for your comment.

      As per checking, the HSBC Serious Saver can give you Maximum Variable Rate of 3.10% p.a. for the first 4 months if you deposit 1 million AUD or more. Please note that the interest rate will revert to 1.40% p.a. after 4 months.

      Alternatively, you may compare other high-interest savings accounts on this page. Please make sure that you’ve read the relevant T&Cs or PDS of this account to help consider whether the product is right for you.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.


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