Cash ISA

HSBC Fixed Rate Cash ISA Review

A cash ISA from HSBC. It ranks 113th of 158 cash ISAs we track.

Fixed rate · 13 months

4.20%AER

Needs an HSBC current account

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£500

Max balance

£20,000

Access

No withdrawals

Interest paid

On maturity

Transfers in

Accepted

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How It Stacks Up

Ranks 113th of 158

Cash ISAs we track

Below average
This account 4.20%
UK CPI (Aug 2026)
3.10%
Pays 1.10% more
Average cash ISA
4.48%
Pays 0.28% less
Best cash ISA
5.12%
Pays 0.92% less

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

Compare cash ISAs

Worth Weighing Up

  • Con: You need an HSBC current account to open it
  • Con: Not flexible: money you withdraw can't be replaced without using more allowance

Good to Know

Requires an HSBC current account.

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Estimated returns with HSBC's Cash ISA

What you could earn with HSBC's Fixed Rate Cash ISA.

Estimated interest

£1,000 saved

£45.58

At 4.2% AER

£5,000 saved

£228

At 4.2% AER

£10,000 saved

£456

At 4.2% AER

£20,000 saved

£912

At 4.2% AER

Estimated over the 13-month term, if the rate stays the same and interest is left in. Amounts outside the account's minimum or maximum aren't shown.

Our Expert Opinion on HSBC Fixed Rate Cash ISA

Jonny PeaseCo-Founder, DepositScout

This HSBC Fixed Rate Cash ISA pays 4.20% for 13 months and accepts ISA transfers in, which makes it a reasonable option for existing ISA savers who want to consolidate and lock in a tax-free rate. That said, 4.20% sits below the Cash ISA market average and is 0.92% behind the current market leader at 5.12%, so it is not the sharpest deal available. The account is capped at £20,000 and allows no withdrawals at all during the term, so your money is fully locked away. If you want flexibility, Atom Bank's Easy Access Cash ISA is currently paying 4.25%.

2 alternatives to HSBC's Fixed Rate Cash ISA

Same type of account, closest on rate.

Common questions about the Fixed Rate Cash ISA

D

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4.20% AER
4.75%
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