HSBC Savings Accounts

HSBC is a provider of savings accounts, as well as other banking solutions such as insurance, loans, term deposits and more.

Compare HSBC savings accounts

Considering a savings account from HSBC? The table below displays a snapshot of HSBC savings accounts on Canstar’s database, sorted by Star Rating. These results are based on a regular saver profile in NSW with $10,000 in current savings.

To see the definition of a regular saver and other profiles used in Canstar’s Star Ratings, view Canstar’s savings account methodology here. Or you can search our database for a savings account to suit your needs.

Compare Savings Accounts

What savings accounts does HSBC offer?

HSBC offers the following savings accounts at the time of writing:

Flexi Saver Account

A fee-free account with a bonus interest rate. 

Serious Saver Account

A savings account that rewards you with a bonus interest rate for every month you don’t make a withdrawal, for the first four months only. 

You can view the current interest rates on HSBC savings accounts in our comparison tables.

Do HSBC savings accounts require a linked transaction account?

At the time of writing, HSBC does not require a linked transaction account for its savings products

Does HSBC charge fees on its savings accounts?

Savings accounts can come with several fees, such as monthly account-keeping fees, transaction fees, withdrawal fees and more. According to their website, HSBC doesn’t charge account keeping fees on its savings accounts at the time of writing. However, Other fees and charges fees and charges may apply.

For current information on fees and how they apply, please check the Product Disclosure Statement.

What does HSBC offer in terms of mobile banking for savings accounts?

HSBC offers both online and mobile banking for its savings products, with its app available in both the Apple and Google store. 

How to apply for a HSBC savings account

Before applying for a HSBC savings account, consider comparing it against other savings accounts on the market to ensure it is the right one for you. You can then apply for a HSBC savings account online, provided you have the correct documentation:

  • At least one form of ID, such as your driver’s license or passport
  • Accurate personal information, such as your name, date of birth, address and phone number

HSBC does not require you to transfer in a minimum amount before your account can be activated.

Related article: How to change bank accounts

Eligibility requirements

When applying for a HSBC savings account, you will also have to meet the following eligibility requirements:

  • You must be 18 years of age or older
  • You must have an Australian residential address

What other banking products does HSBC provide?

HSBC provides a variety of different products to consumers, including:

About HSBC

HSBC was founded in 1865 in Hong Kong to finance trade between Asia and Europe. 100 years later, they moved to Australia and gained their commercial banking licence in 1986.

HSBC is now one of the world’s largest banking and financial institutions, serving 48 million customers around the globe, with 6,000 offices in 71 countries. 

Written by: Maddie Clarey | Last updated: August 7, 2018