HSBC Flexi Saver

1.25% p.a.(for $0 to $5,000,000)

2.50% p.a. (for $0 to $5,000,000)

 

HSBC Flexi Saver Review

Rates and fees information correct as at 16 December 2018.

Review published: 5 July 2018

What's hot:

  • 2.50% special interest rate

  • No ongoing fees

What's not:

  • 1.25% interest rate

Mozo snapshot:

To help you grow your savings, if you increase the size of your account by $300 in a month (not including interest) then the next month, you can score a bonus 2.50% interest rate on your HSBC Flexi Saver. More than just a bumper interest rate, the account also has no fees at all, and unlimited free phone, internet and branch transactions.

Key features:

Having a high interest rate on your savings account can really help your rainy day fund start to add up over time. At 2.50%, the HSBC Flexi Saver special rate may be just what you need to help you achieve saving success. To qualify for the special rate, you’ll need to increase the amount in your savings account by at least $300 each month (not including interest), then the bonus rate will apply to the next month's balance.

Just keep in mind, if you aren’t able to do this one month, the interest rate will fall down to the base rate of 1.25%. But don’t panic - slipping up one month won’t bring the rate down permanently, it will only affect months during which the bonus condition isn’t met.

Another great thing about the HSBC Flexi Saver is that you won’t be hit with any ongoing fees that can slowly chip away at your hard earned savings.

You’ll also have unlimited free transactions, whether you’re doing them over the phone, in branch or on the internet and you can link the account up to BPAY.

If you are interested in opening an account but don’t have a stash of cash in waiting, that’s no worry at all, as there is no opening minimum balance. And you’ll continue to earn interest on your stash up to $5 million dollars.

Who it's good for:

The HSBC Flexi Saver is great for regular savers who can capitalise on the special bonus interest rate by increasing their balance by at least $300 each month.

Any catches?

The biggest catch, is simply not qualifying for the special rate. While 1.25% interest isn’t terrible by any means, meeting the special rate conditions will help grow your stash faster.

How are HSBC savings accounts rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.5

Based on 320
HSBC savings accounts reviews

7.3 6.5 7.2 6.8 7.8

Read HSBC savings account reviews by the Mozo community

Latest reviews of HSBC Flexi Saver

HSBC

HSBC Flexi Saver savings account review

Overall rating   6 / 10

Poor on-line international transfers.

International online transfers are not handled well and they don't deliver the service that is expected from them.

Full review

International online transfers are not handled well and they don't deliver the service that is expected from them.

    Price   8 / 10

    Features   1 / 10

    Customer service   7 / 10

    Convenience   3 / 10

    Trust   7 / 10

Less

John, Queensland, reviewed over 2 years ago

HSBC

HSBC Flexi Saver savings account review

Overall rating   7 / 10

Good rates and great for online banking

Good rates but not so convenient as far as branch network goes

Full review

Good rates but not so convenient as far as branch network goes

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   5 / 10

    Trust   8 / 10

Less

Talei, New South Wales, reviewed almost 3 years ago

HSBC

HSBC Flexi Saver savings account review

Overall rating   8 / 10

Exceptional customer service.

Exceptional customer service.

Full review

Exceptional customer service.

    Price   6 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   9 / 10

Less

Sarah, Western Australia, reviewed almost 3 years ago

HSBC

HSBC Flexi Saver savings account review

Overall rating   10 / 10

Great customer service & overall great product

HSBC has been the best bank that I have used till now, great service face to face and over the phone, very professional and great customer service and always going that extra bit to assist

Full review

HSBC has been the best bank that I have used till now, great service face to face and over the phone, very professional and great customer service and always going that extra bit to assist

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   10 / 10

Less

Raymond, New South Wales, reviewed about 3 years ago

HSBC

HSBC Flexi Saver savings account review

Overall rating   9 / 10

No fees, all the options, rock-solid, reliable.

Reliable service. Never any problems accessing money. Can use Westpac ATMs without fees. No monthly fees. Cannot recall last time I incurred a bank charge. Convenient branch location in the city. VISA debit card attached to account is...

Full review

Reliable service. Never any problems accessing money. Can use Westpac ATMs without fees. No monthly fees. Cannot recall last time I incurred a bank charge. Convenient branch location in the city. VISA debit card attached to account is FANTASTIC, convenient, useful, fantastic. Have been able to use it online, also for renting cars, etc. Downsides -- HSBC linked to laundering drug cartel money in South America. I had trouble accessing funds while travelling in Africa even after I notified HSBC that I was in Africa.

    Price   10 / 10

    Features   6 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Sean, Queensland, reviewed about 3 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Rates

  • Balances from $0: 1.25% p.a.
    Balances from $5,000,000: 0.00% p.a.

  • Balances from $0: 2.50% p.a.
    Balances from $5,000,000: 0.00% p.a.

  • Increase balance by at least $300 in the month (excluding interest)

Fees

  • $0.00

  • none

  • unlimited free transactions from phone, internet, branch

  • none

  • none

  • none

  • $0.00

  • $0.00

  • none

  • $0.00

  • $0.00

  • none

Other financial bits

  • $0.00

  • $0.00

  • Monthly

Features

  • no

  • none

  • no

  • no

  • no

  • yes

  • no

  • yes

  • yes

  • yes

  • no

  • none

  • none

  • none

About HSBC

HSBC 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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