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0.00%
5.55%
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Do you have a serious savings goal? The HSBC Serious Saver has a wow-worthy 5.55% intro rate for the first four months and no account fees. And to keep you on that savings track the there is a serious disincentive to make withdrawals - just one withdrawal in a month and your interest rate will plummet to 0%!
Key features: The HSBC serious saver has an 4.25% ongoing interest rate for balances of up to $1 million after the intro rate period ends. Interest is calculated daily and paid monthly and there's no minimum or ongoing balance requirements.
The HSBC Serious Saver makes transferring funds simple as you're able to choose between mobile, internet or phone banking. Often banks insist that you have a linked transaction account with their bank when you open an online savings account. So it's seriously convenient that with the HSBC Serious Saver you can link to any Australian bank account.
To keep on track of your savings you'll receive statements every 6 months and for the digitally savvy you'll also have the option of e-statements.
Who it's good for: The HSBC Serious Saver is designed for a serious saver who has a savings goal in mind like a holiday and doesn't need (or have the urge) to make withdrawals regularly.
Any catches? While this account has the freedom of no minimum or ongoing balance requirements, if you make even just one withdrawal you'll receive NO interest for that month. Avoid this catch and you'll really start to see your savings climb!
| Product Type | Overall | Price | Features | Service | Convenience | Trust |
|---|---|---|---|---|---|---|
| HSBC savings accounts |
7.4
Based on 36 HSBC savings account reviews |
8.1 | 6.6 | 7.9 | 6.6 | 8.0 |
Read HSBC savings account reviews by the Mozo community
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Not very competitive interest
I like it as there are no account keeping fees; you can easily access your account 24/7 via internet; also you can withdraw cash from certain ATM without incurring any fees. The main dislike is its less competitive interest rate and in order ... Full review
I like it as there are no account keeping fees; you can easily access your account 24/7 via internet; also you can withdraw cash from certain ATM without incurring any fees. The main dislike is its less competitive interest rate and in order to earn interest, one cannot withdraw cash from this account.
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YesHSBC in Australia is part of the HSBC Group, one of the world’s largest banking and financial services organisations. HSBC has products for every money need you can think of, including savings accounts and term deposits for your day-to-day money management, a suite of home loans to finance your dream home, plus credit card and personal loan options. With branches all over the world, HSBC is the world’s local bank!
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