Interest rate
0.05% p.a.(for $0 to $5,000,000)
Maximum rate
0.85% p.a. (for $0 to $5,000,000)
Govt deposit guarantee
Yes up to $250,000
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Mozo editorial review HSBC Flexi Saver

Last updated: 30 November 2020.

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What's hot
  • 0.85% maximum interest rate
  • No ongoing fees
What's not
  • 0.05% base rate
Mozo snapshot

If you’re a saver committed to building your savings stash, then the HSBC Flexi Saver could be the savings account for you. This savings account features a maximum rate of 0.85% and no upfront or ongoing fees, so you can keep every dollar in your HSBC Flexi Saver.

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Key features

With the HSBC Flexi Saver, reaching you savings goal could be made a breeze. In order to qualify for the maximum rate of 0.85%, savers will need to grow their savings account by at least $300 every month. The maximum rate will then apply to the following month’s balance. However if you forget to deposit the money into your HSBC Flexi Saver, you’ll then only earn 0.05% for the month. 

Moving money around is also as easy as pie, with unlimited, free transactions either over the phone, the internet or by heading down to your local branch. 

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Who is it good for

The HSBC Flexi Saver is a savings account is a great choice for Aussie savers who can make regular contributions of more than $300 every month. 

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Any catches

Just remember that if you fail to meet the maximum rate conditions, you will only receive the base rate of 0.05% for the month.

Details

Rates and fees information correct as at 19 January 2021. 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: 0.05% p.a.
    Balances from $5,000,000: 0.00% p.a.

  • Balances from $0: 0.85% 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

  • n/a

  • unlimited free transactions from phone, internet, branch

  • n/a

  • n/a

  • n/a

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $0.00

  • $0.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • yes

  • no

  • yes

  • yes

  • yes

  • no

  • none

  • none

  • none

Customer Reviews

How are HSBC savings accounts rated by the Mozo community?

Overall
7.4/10
Price
7.3/10
Features
6.4/10
Customer service
7.1/10
Convenience
6.7/10
Trust
7.8/10

Latest reviews of HSBC Flexi Saver

  • Overall 10/10
    High interest and branch access.

    They have the highest saving rate among physical banks.

    Read full review

    They have the highest saving rate among physical banks.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Leo, Victoria reviewed over 1 year ago
  • Overall 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.

    Read 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 4 years ago
  • Overall 7/10
    Good rates and great for online banking

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

    Read 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 5 years ago
  • Overall 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

    Read 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 5 years ago
  • Overall 8/10
    Exceptional customer service.

    Exceptional customer service.

    Read 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 about 5 years ago
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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!

See HSBC savings accounts

Thumbnail icon for HSBC

HSBC

Serious Saver

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

0.90% p.a. (for $0 to $1,000,000)

Yes up to $250,000

Thumbnail icon for MyState Bank

MyState Bank

Bonus Saver Account

1.20% p.a. (for $0 to $250,000)

0.10% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for HSBC

HSBC

Serious Saver

0.90% p.a. (for $0 to $1,000,000)

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

Yes up to $250,000

Thumbnail icon for Bankwest

Bankwest

Hero Saver

0.80% p.a. (for $0 to $250,001)

0.01% p.a.(for $0 to $5,000,000)

Yes up to $250,000

Thumbnail icon for Up

Up

Saver Account

1.10% p.a. (for $0 to $1,000,000)

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

Yes up to $250,000

Thumbnail icon for HSBC

HSBC

Flexi Saver

0.85% p.a. (for $0 to $5,000,000)

0.05% p.a.(for $0 to $5,000,000)

Yes up to $250,000

Thumbnail icon for Bank of Queensland

Bank of Queensland

Fast Track Saver Account

1.05% p.a. (for $1 to $250,000)

0.05% p.a.(for $1 and over)

Yes up to $250,000

Thumbnail icon for Citi

Citi

Online Saver

1.10% p.a. (for $0 to $500,000)

0.35% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for Bank of Queensland

Bank of Queensland

Fast Track Starter Account

3.00% p.a. (for $1 to $10,000)

0.05% p.a.(for $1 and over)

Yes up to $250,000

Thumbnail icon for MyState Bank

MyState Bank

Bonus Saver Account

1.20% p.a. (for $0 to $250,000)

0.10% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for HSBC

HSBC

Serious Saver

0.90% p.a. (for $0 to $1,000,000)

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

Yes up to $250,000

Thumbnail icon for Bankwest

Bankwest

Hero Saver

0.80% p.a. (for $0 to $250,001)

0.01% p.a.(for $0 to $5,000,000)

Yes up to $250,000

Thumbnail icon for Up

Up

Saver Account

1.10% p.a. (for $0 to $1,000,000)

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

Yes up to $250,000

Thumbnail icon for HSBC

HSBC

Flexi Saver

0.85% p.a. (for $0 to $5,000,000)

0.05% p.a.(for $0 to $5,000,000)

Yes up to $250,000

Thumbnail icon for Bank of Queensland

Bank of Queensland

Fast Track Starter Account

3.00% p.a. (for $1 to $10,000)

0.05% p.a.(for $1 and over)

Yes up to $250,000

Thumbnail icon for Citi

Citi

Online Saver

1.10% p.a. (for $0 to $500,000)

0.35% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for Bank of Queensland

Bank of Queensland

Fast Track Saver Account

1.05% p.a. (for $1 to $250,000)

0.05% p.a.(for $1 and over)

Yes up to $250,000

Thumbnail icon for Bankwest

Bankwest

Hero Saver

0.01% p.a.(for $0 to $5,000,000)

0.80% p.a. (for $0 to $250,001)

Yes up to $250,000

Thumbnail icon for Up

Up

Saver Account

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

1.10% p.a. (for $0 to $1,000,000)

Yes up to $250,000

Thumbnail icon for ANZ

ANZ

Progress Saver

0.01% p.a.(for $0 and over)

0.50% p.a. (for $0 and over)

Yes up to $250,000

Thumbnail icon for Newcastle Permanent

Newcastle Permanent

Smart Saver

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

1.55% p.a. (for $0 and over)

Yes up to $250,000

Thumbnail icon for Auswide Bank

Auswide Bank

Ziggy Kids Saver

0.01% p.a.(for $0 and over)

2.01% p.a. (for $0 and over)

Yes up to $250,000