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HSBC Serious Saver

Earn a competitive 0.3% p.a. for the first 4 months after opening this savings account.

The HSBC Serious Saver offers a competitive bonus interest rate of 0.3% 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.

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Alison Banney
Last Updated

0.3% p.a.

Maximum variable rate

0.15%p.a.

Base interest rate

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Details

Product NameHSBC Serious Saver
Maximum Variable Rate0.3% p.a.
Standard Variable Rate0.15%
Monthly Account Fee$0
Minimum Opening Deposit$0
Minimum Age18
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Review by

Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

The bonus rate of 0.3% is offered for the first 4 months when you make no withdrawals. There are no deposit conditions to meet to get this high rate. However, once the intro period is up your money will earn the low standard variable rate of 0.15%. However, if you link this account to a HSBC Everyday Global account and deposit $2,000 a month you'll earn 0.4% bonus interest on top of this standard rate.

This account could be ideal if you’re looking for a place to park your savings for a few months while earning a high interest rate, particularly if you've got a large balance. You’ll get the bonus rate on balances up to $1,000,000 which is very rare for such a competitive rate.

Once the introductory period is over, you could consider switching your balance to the HSBC Flexi Saver . This account pays a lower (but still decent) bonus rate of 0.25% every month that you grow your balance by $300, and you’re able to make withdrawals whenever you need to so it’s a bit more flexible.

Key features

$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 0.3% 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 0.3% 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 0.15% p.a.

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How to apply

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.

Eligibility

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.
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52 Comments

    Default Gravatar
    Marius
    February 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.

    Reply
      Default Gravatar
      Ash
      February 12, 2020

      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.

      Cheers,
      Ash

      Reply
    Default Gravatar
    Rose
    October 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?

    Reply
      Default Gravatar
      Nikki
      October 31, 2019

      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!

      Best,
      Nikki

      Reply
    Default Gravatar
    Priit
    July 24, 2019

    Hi,
    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?

    Reply
      Default Gravatar
      Nikki
      July 24, 2019

      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!

      Best,
      Nikki

      Reply
    Default Gravatar
    ET
    July 11, 2019

    Hi,

    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?

    Thanks

    Reply
      Avatarfinder Customer Care
      Jeni
      July 13, 2019

      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!

      Cheers,
      Jeni

      Reply
    Default Gravatar
    Broden
    February 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?

    Reply
      Avatarfinder Customer Care
      Jeni
      March 1, 2019

      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!

      Cheers,
      Jeni

      Reply
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