What interest rate does the HSBC Fixed Rate Saver 1 Year pay?

The HSBC Fixed Rate Saver 1 Year pays 4.50% AER, fixed for one year.

How much interest could I earn?

Saving £10,000 for 1 year would earn about £450 at 4.50% AER. This assumes the rate stays the same and interest stays in the account.

How much can I pay in?

You can deposit at least £2,000 and up to £1,000,000.

Can I withdraw my money?

No. Your money is locked in until the fixed term ends, so only put in what you won't need before then.

When is interest paid?

You can choose to have interest paid monthly or annually.

Who can open this account?

New and existing HSBC customers can open it. You can open it online, in branch or in the app.

Is my money protected?

Yes. Eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person, per banking licence.

How does it compare with other one-year fixed rate bonds?

At 4.50% AER it ranks 29th of 69 one-year fixed rate bonds we track. The best pays 5.12% and the average is 4.47%.

Dashboard

Fixed Rate

HSBC Fixed Rate Saver 1 Year Review

A one-year fixed rate bond from HSBC, with a £2,000 minimum deposit. It ranks 29th of 69 one-year fixed rate bonds we track.

Rate checked Oct 2026Got this account? Leave a review

Fixed rate · 1 year

4.50%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£2,000

Max balance

£1,000,000

Access

At maturity only

Interest paid

Monthly/Annually

HSBC is also paying up to £500 to switch your current account.

See the switch offer

How It Stacks Up

Ranks 29th of 69

1-year fixed bonds we track

Just above average

This account 4.50%

UK CPI (Aug 2026): 3.10%; Pays 1.40% more
Average 1-year fixed: 4.47%; About the same
Best 1-year fixed: 5.12%; Pays 0.62% less

Inflation: ONS. Averages and best rates: accounts on DepositScout.

Compare fixed bonds

A Good Fit For

Pro: New and existing savers
Pro: Savers who want a monthly income

Worth Weighing Up

Con: Your money is locked in for 1 year
Con: You need at least £2,000 to open it

Good to Know

Interest is calculated daily and paid monthly or annually into the same HSBC account used for the initial deposit.

Please verify all details with the provider – see our Disclaimer

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Estimated returns with HSBC's Fixed Rate

What you could earn with HSBC's Fixed Rate Saver 1 Year.

Estimated interest

£5,000 saved

£225

At 4.5% AER

£10,000 saved

£450

At 4.5% AER

£50,000 saved

£2,250

At 4.5% AER

£1,000,000 saved

£45,000

At 4.5% AER

Estimated over one year, if the rate stays the same and interest is left in. Amounts outside the account's minimum or maximum aren't shown.

Work out the tax on your interestSee how much of this interest could be taxed.

Our Expert Opinion on HSBC Fixed Rate Saver 1 Year

Jonny PeaseCo-Founder, DepositScout

HSBC's one-year fix pays 4.50%, which is 0.85% behind the fixed-rate market leader at 5.35%, and sits below the market average, so you are paying a meaningful loyalty premium for the HSBC name. The rate does beat August 2026 CPI of 3.1% by 1.40%, so your money grows in real terms. The main catch is no access until maturity, though early closure is permitted at a cost of up to 90 days' interest. OakNorth Bank's 12-month fix at 4.96% is worth a look if rate is the priority.

Compare Fixed Rate Bonds