HSBC logo

HSBC Everyday Savings

Advertiser disclosure
Interest rate
3.00% p.a.(for $0 to $1,000,000)
Maximum rate
5.15% p.a. (for $0 to $1,000,000)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review HSBC Everyday Savings - last updated: 10 April 2024

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What's hot
  • No monthly account fee
  • Earn interest on balances up to $1,000,000
What's not
  • 2.55% base rate
Mozo snapshot

The HSBC Everyday Savings comes with an introductory rate of 5.15% for three months, then a base rate of 3.00%, and there's no monthly account fee attached. These rates can be earned on balances of up to $1,000,000, making the Serious Saver an account that may be worth considering for savers with large nest egg.

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Key features

The HSBC Everyday Savings starts off with a 5.15% introductory rate for the first three months, which then drops to an ongoing base rate of 3.00%. These rates are available as long as it's your first Everyday Savings Account and your balance stays between $0 and $1,000,000, and interest is calculated daily and paid monthly.

Transferring funds is straightforward 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 the fact that  you can link the HSBC Everyday Savings to any Australian bank account could be a plus.

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Who is it good for

The HSBC Everyday Savings is designed for savers with larger savings balances, or those with a short term goal in mind who could benefit from the introductory rate. 

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Any catches

The 3.00% base rate isn't one of the most competitive going around, so it may be worth comparing it to other high interest savings account options. 

Details

Rates and fees information correct as at 13 July 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

Balances from $0: 3.00% p.a.
Balances from $1,000,000: 0.00% p.a.

Balances from $0: 5.15% p.a.
Balances from $1,000,000: 0.00% p.a.

Bonus rate for first 3 months, reverting to 3.00% rate after

Fees

$0.00

n/a

unlimited free transactions from phone, internet, branch deposits

n/a

n/a

n/a

$0.00

n/a

n/a

$0.00

$0.00

n/a

Other financial bits

$0.00

$0.00

Monthly

Features

no

n/a

no

no

no

no

no

yes

yes

no

no

none

none

none

Customer Reviews

How are HSBC savings accounts rated by the Mozo community?

Overall
6.5/10
Price
7.3/10
Features
6.5/10
Customer service
7.1/10
Convenience
6.7/10
Trust
7.7/10
Based on 332 HSBC savings account reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Latest reviews of HSBC Everyday Savings Savings Account

About HSBC

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Macquarie

Savings Account

5.35% p.a. (for $0 to $250,000)

4.75% p.a.(for $0 to $1,000,000)

Yes up to $250,000

Thumbnail icon for IMB Bank
IMB Bank

Reward Saver Account

5.25% p.a. (for $0 to $1,000,000)

0% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for First Option Bank
First Option Bank

Savings+Bonus

5.00% p.a. (for $0 to $250,000)

2.00% p.a.(for $0 to $250,000)

Yes up to $250,000

Thumbnail icon for MyState Bank
MyState Bank

Bonus Saver Account

5.00% p.a. (for $0 to $250,000)

0.05% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for Westpac
Westpac

Life - 18-29 years old

5.20% p.a. (for $0 to $30,000)

2.00% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for ING
ING

Savings Maximiser

5.50% p.a. (for $0 to $100,000)

0.55% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for Rabobank
Rabobank

High Interest Savings Account

5.75% p.a. (for $0 to $250,001)

4.40% p.a.(for $0 to $250,001)

Yes up to $250,000

Thumbnail icon for ING
ING

Savings Accelerator

3.35% p.a. (for $0 to $50,000)

2.85% p.a.(for $0 to $50,000)

Yes up to $250,000

Thumbnail icon for Macquarie
Macquarie

Savings Account

5.35% p.a. (for $0 to $250,000)

Yes up to $250,000

4.75% p.a.(for $0 to $1,000,000)

Thumbnail icon for IMB Bank
IMB Bank

Reward Saver Account

5.25% p.a. (for $0 to $1,000,000)

Yes up to $250,000

0% p.a.(for $0 and over)

Thumbnail icon for MyState Bank
MyState Bank

Bonus Saver Account

5.00% p.a. (for $0 to $250,000)

Yes up to $250,000

0.05% p.a.(for $0 and over)

Thumbnail icon for Rabobank
Rabobank

High Interest Savings Account

5.75% p.a. (for $0 to $250,001)

Yes up to $250,000

4.40% p.a.(for $0 to $250,001)

Thumbnail icon for First Option Bank
First Option Bank

Savings+Bonus

5.00% p.a. (for $0 to $250,000)

Yes up to $250,000

2.00% p.a.(for $0 to $250,000)

Thumbnail icon for Westpac
Westpac

Life - 18-29 years old

5.20% p.a. (for $0 to $30,000)

Yes up to $250,000

2.00% p.a.(for $0 and over)

Thumbnail icon for ING
ING

Savings Maximiser

5.50% p.a. (for $0 to $100,000)

Yes up to $250,000

0.55% p.a.(for $0 and over)

Thumbnail icon for ING
ING

Savings Accelerator

3.35% p.a. (for $0 to $50,000)

Yes up to $250,000

2.85% p.a.(for $0 to $50,000)

Thumbnail icon for IMB Bank
IMB Bank

Reward Saver Account

0% p.a.(for $0 and over)

5.25% p.a. (for $0 to $1,000,000)

Yes up to $250,000

Thumbnail icon for First Option Bank
First Option Bank

Savings+Bonus

2.00% p.a.(for $0 to $250,000)

5.00% p.a. (for $0 to $250,000)

Yes up to $250,000

Thumbnail icon for MyState Bank
MyState Bank

Bonus Saver Account

0.05% p.a.(for $0 and over)

5.00% p.a. (for $0 to $250,000)

Yes up to $250,000

Thumbnail icon for Westpac
Westpac

Life - 18-29 years old

2.00% p.a.(for $0 and over)

5.20% p.a. (for $0 to $30,000)

Yes up to $250,000

Thumbnail icon for ING
ING

Savings Maximiser

0.55% p.a.(for $0 and over)

5.50% p.a. (for $0 to $100,000)

Yes up to $250,000

Thumbnail icon for ING
ING

Savings Accelerator

2.85% p.a.(for $0 to $50,000)

3.35% p.a. (for $0 to $50,000)

Yes up to $250,000

Thumbnail icon for ubank
ubank

Save Account

0% p.a.(for $0 and over)

5.50% p.a. (for $0 to $100,000)

Yes up to $250,000

Thumbnail icon for First Option Bank
First Option Bank

Kids Bonus Saver

0.05% p.a.(for $0 and over)

0.85% p.a. (for $5,556 to $50,001)

Yes up to $250,000

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