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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.
0.3% p.a.
Maximum variable rate
0.15%p.a.
Base interest rate
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Product Name | HSBC Serious Saver |
---|---|
Maximum Variable Rate | 0.3% p.a. |
Standard Variable Rate | 0.15% |
Monthly Account Fee | $0 |
Minimum Opening Deposit | $0 |
Minimum Age | 18 |
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.
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.