Interest rate
0.15% p.a.(for $0 and over)
Maximum rate
0.30% p.a. (for $0 to $1,000,000)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review HSBC Serious Saver - last updated: 12 April 2021

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What's hot
  • No monthly account fee
  • Earn interest on balances up to $1,000,000
What's not
  • 0.15% base rate
Mozo snapshot

The HSBC Serious Saver comes with an introductory rate of 0.30% for three months, then a base rate of 0.15%, 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 Serious Saver starts off with a 0.30% introductory rate for the first three months, which then drops to an ongoing base rate of 0.15%. These rates are available as long as it's your first Serious Saver 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 Serious Saver to any Australian bank account could be a plus.

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Who is it good for

The HSBC Serious Saver 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 0.15% 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 24 October 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: 0.15% p.a.

Balances from $0: 0.30% p.a.
Balances from $1,000,000: 0.00% p.a.

Bonus rate for first 3 months, reverting to 0.15% 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

none

no

no

no

no

no

yes

yes

no

no

none

none

none

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