Protection
FSCS£120,000
Min balance
£1
Max balance
No limit
Access
Instant
Interest paid
Monthly
HSBC is also paying up to £500 to switch your current account.
Rate Tiers
Bonus rate – up to £50,000
3.35%AER
No withdrawal made in the month
Bonus rate – above £50,000
1.05%AER
No withdrawal made in the month; lower rate on portion above £50,000
Standard rate – all balances
1.05%AER
Applies in any month a withdrawal is made
How It Stacks Up
Ranks 67th of 152
Easy access accounts we track
This account 3.35%
- UK CPI (Aug 2026)
- 3.10%
- Pays 0.25% more
- Average easy access
- 2.83%
- Pays 0.52% more
- Best easy access
- 5.00%
- Pays 1.65% less
Inflation: ONS. Averages and best rates: accounts on DepositScout.
A better-paying alternative
Tembo
HomeSaver
4.55%
AER
- Pays 1.20% more than this HSBC account
- Instant access, open with £10
We may earn a commission if you open this account.
A Good Fit For
- Pro: New and existing savers
- Pro: Savers who want instant access
- Pro: Savers who want a monthly income
Worth Weighing Up
- Con: The rate is variable, so it can go down
Please verify all details with the provider – see our Disclaimer
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