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Cash ISA

Plan for the future, free from UK income tax

HSBC Loyalty Cash ISA

Open up your ISA in minutes and be rewarded for your loyalty.

  • Start with any amount from £1 and deposit up to £20,000 this tax year

  • Receive a loyalty rate for 12 months from the date of each payment into your ISA
  • Get the same great rates when transferring in existing cash ISAs and stocks and shares ISAs

  • Make regular payments or lump sum deposits - it's your choice

Open an HSBC Loyalty Cash ISA today

Please read the important product information and check eligibility before you apply.

 

Available to HSBC Current Account customers only

Key product information

How it works

With the Loyalty Cash ISA, we reward you for your loyalty as long as you pay at least £1 into your ISA each year. This exclusive variable loyalty rate applies for 12 months* from the date of each payment.

If you make further payments into your ISA, your loyalty rate period will begin again from the date of each payment. Upon the expiry of your Loyalty rate period, you will earn a standard rate of interest until you make a further payment.

You can start your ISA savings with any amount from £1 and you could subscribe up to £20,000 this tax year.

Summary box

Account name

Loyalty Cash ISA

What is the interest rate?

The current interest rates are shown below:
Account type Loyalty rate Standard rate
HSBC Premier
0.20% AER/tax-free 0.05% AER/tax-free
Other Current Accounts
0.10% AER/tax-free 0.05% AER/tax-free
The current interest rates are shown below:
Account type HSBC Premier
Loyalty rate 0.20% AER/tax-free
Standard rate 0.05% AER/tax-free
Account type Other Current Accounts
Loyalty rate 0.10% AER/tax-free
Standard rate 0.05% AER/tax-free

Interest is variable, is calculated daily and credited to the account monthly.

A Loyalty rate applies for 12 months* from the date of each payment into your ISA. If you make further payments into your ISA, your Loyalty rate period will begin again from the date of each payment. Upon the expiry of your Loyalty rate period, you will earn a standard rate of interest until you make a further payment.

* 12 months is calculated as 366 days for interest purposes to allow for leap years.

Can HSBC change the interest rate?

Yes, the interest rate is variable. We can change the interest rate on this account, in line with the account's Terms and Conditions.

What would the estimated balance be after 12 months based on a £1,000 deposit?

The estimated balance after 12 months based on a £1,000 deposit would be as follows:
Initial deposit
Rate Interest rate Balance at the end of 12 months
£1,000 HSBC Premier
Loyalty rate
0.20% AER/tax-free £1,002.00
£1,000 Other Current Accounts
Loyalty rate
0.10% AER/tax free £1,001.00
£1,000 Standard rates for all accounts 0.05% AER/tax free £1,000.50
The estimated balance after 12 months based on a £1,000 deposit would be as follows:
Initial deposit
£1,000
Rate HSBC Premier
Loyalty rate
Interest rate 0.20% AER/tax-free
Balance at the end of 12 months £1,002.00
Initial deposit
£1,000
Rate Other Current Accounts
Loyalty rate
Interest rate 0.10% AER/tax free
Balance at the end of 12 months £1,001.00
Initial deposit
£1,000
Rate Standard rates for all accounts
Interest rate 0.05% AER/tax free
Balance at the end of 12 months £1,000.50

For the purpose of this calculation, it is assumed:

  • initial deposit is £1,000
  • no further deposits
  • no withdrawals
  • no change to the interest rate during the 12 months


Projection provided for illustrative purposes only and does not take into account individual circumstances.

How do I open & manage my account?

Eligibility:

  • aged 16 years or over
  • be resident in the UK for tax purposes, or if not so resident, be a Crown employee serving overseas, or be married to, or in a civil partnership with, such a person
  • hold an HSBC current account


How to open the account:

  • open an account via online banking, phone banking, in branch or by post
  • or you can transfer current and/or previous years subscriptions by completing an ISA transfer form


Minimum/Maximum Balance:

  • a minimum of £1 must be deposited to open the account
  • the maximum amount you can deposit in a tax year is subject to annual subscription limits. The annual subscription limit for the 2020/21 tax year is £20,000. This can be saved in a cash ISA, a stocks and shares ISA, an innovative finance ISA or a lifetime ISA with either the same or different providers
  • there is no maximum balance

 

How to manage the account:

  • once opened you can manage the account via online banking, phone banking, HSBC Mobile Banking app or in branch

Can I withdraw money?

Yes, you have instant access to your account. You can make as many fee free withdrawals as you like. However once you have paid in the maximum annual subscription limit to this ISA, any amount withdrawn can not be replaced until the following tax year.

If you withdraw funds from your ISA you will lose the associated tax benefits.

Additional Information

A 30 day cancellation period applies to this account.

Interest is paid tax-free, that is free from UK Income Tax and Capital Gains Tax.

The tax treatment of an ISA will depend on your individual circumstances and may be subject to change in the future.

Subscribing to a cash ISA may affect your eligibility to subscribe to a Help to Buy: ISA.
 

Definitions

  • AER stands for Annual Equivalent Rate. This shows you what the gross rate would be if interest were paid and compounded each year
  • tax free, free from personal liability to any UK Income Tax and Capital Gains Tax
  • ISA stands for Individual Savings Account
     

Information correct as at 01/05/2020

How to apply

Apply online

Registered for online banking?
Simply apply online for our HSBC Loyalty Cash ISA using online banking.

Not registered yet?

If you’re already a customer, you can register for online banking.

How to make a transfer in

If you have an existing cash ISA, Protected ISA, or a Matured Child Trust Fund with HSBC, or another provider, you can transfer it into an HSBC Cash ISA by completing and submitting a paper form.

Please read the documents in the ‘Things you should know’ section and print or save copies for reference.

Transfer in by phone or branch

To transfer an existing HSBC Cash ISA to the HSBC Loyalty Cash ISA, please call us on:

03457 404 404
For Premier customers: 03457 707 070

Alternatively, you can book an appointment at your local branch.

To help us continually improve our service, and in the interests of security for all parties, calls may be monitored and/or recorded. Lines are open 8:00 – 20:00 (Monday - Sunday), or open 24 fours for Premier customers.

Transfer stocks and shares ISA

To transfer a stocks and shares ISA or Protected ISA to the HSBC Loyalty Cash ISA, please submit your Stocks and Shares ISA to Loyalty Cash ISA Transfer form (PDF, 428KB) to a branch or to:

HSBC UK Bank plc

PO Box 6167, Coventry, CV3 9HL 

Transfer in by post

To transfer a cash ISA to the HSBC Loyalty Cash ISA, please submit your HSBC Loyalty Cash ISA Form (PDF, 166KB).

If you want to transfer your Matured Child Trust Fund to your HSBC Loyalty Cash ISA, please submit your Matured Child Trust Fund to HSBC Loyalty Cash ISA form to a branch or to:

HSBC UK plc 

Forum 1, The Forum, Floor 1, 

Fareham, Hampshire, PO15 7PA

Additional information

Before applying, please take the time to read the following documents. You may also want to save them for future reference.

Things you should know

Do you already hold a HSBC ISA and haven’t subscribed to it in the last tax year?  

You won't be able to subscribe in the current tax year unless you reactivate your ISA.

To reactivate your ISA and make further subscriptions, please download the HSBC Loyalty Cash ISA Reactivation Form (PDF, 166KB). 

Return it to us by post to the address on the form, call in to your local branch, or give us a call. If you need help with filling in the form, please ask a member of staff.

Frequently Asked Questions

You might also be interested in

 

Find out more about tax-efficient savings and how to make the most of your ISA allowance.

 

A stocks & shares ISA could be a great way to start investing.

 

Make your money grow. Choose from fixed-term or easy access accounts.

It’s easy to get in touch online. Talk to us directly through our chat channels.