HSBC Regular Saver - back upto 10%

gt94sss2

HSBC have now changed their Regular Saver accounts and are now again offering:

a 10% AER/gross fixed rate available to HSBC Premier, HSBC Advance, HSBC Graduate (Advance) and HSBC Passport customers.

a 5% AER/gross fixed rate available to Bank Account, Bank Account Pay Monthly and Graduate Bank Account customers.

In addition, they are offering £75 cashback if you change your bank account to them.

I believe the offers last until midnight on 6 February 2011.

Regards
Sunil

Johnny_Doe

Thanks for this, got a few questions:

1) Is there a monthly charge on the premium accounts?

2) Is there an upper limit to how much you can invest on the 10% (ie £250 mth?)

3) Can you apply if you've previously had an account with First Direct? Someone on hotukdeals said they were affiliated?

4) Do you have to switch DD's and salary or can you deposit the minimum each mth? £500?

Many Thanks and Happy Xmas!

JD

Johnny_Doe

1) £25 or £12.95 (£6mth for 9mths) depending on account unless you have 50k with them or 300k mortgage lol

4) Yes full switch

gt94sss2

Johnny_Doe wrote: »

1) Is there a monthly charge on the premium accounts?

HSBC Premier is fee free but is their top account and has certain qualification criteria which mean its not suitable for most people (i.e. £50,000 of savings or shares)

HSBC Advance has a monthly fee and offers things like free breakdown cover, discounts and travel insurance.

The HSBC Bank account is their 'standard' free bank account.

2) Is there an upper limit to how much you can invest on the 10% (ie £250 mth?)

£250.

3) Can you apply if you've previously had an account with First Direct? Someone on hotukdeals said they were affiliated?

HSBC own First Direct but I can't see why this would stop you opening a HSBC account.

4) Do you have to switch DD's and salary or can you deposit the minimum each mth? £500?

To get the £75 I think you need to use the switching service - though I guess you could open one separately if you wanted..

Regards
Sunil

Newbie2saving

I've just restarted my reg saver again in October so I've made 3 payments in of £250/month @ 8%, was worried about it dropping so I was rushing to start it again once it matured. Seems like interest payments may be starting to improve (slightly!).

bambi1984

is it possible to adjust how much u pay in this account ??? i currently pay in 50 a month but wud like to double that

bambi1984

does not matter found out how to ammend amount

Milarky

At £250 per month the gross interest interest maxes out at £81.25 for the 'basic' (5%) and £162.50 for the 'premium' (10%) product.

The lowest fee paying account ('Passport') charges £8/month x 12 months = £96, so the '10%' account is clearly a hook and not worth the candle.

But 5% is nice and £75 for switching is wothwhile also.

Get started now:

• Choose an account and apply online
• Receive your HSBC welcome pack and complete the switching form inside
• Drop off your completed switching form at your local HSBC branch
• Leave the rest to our dedicated Switching Team

gt94sss2

Milarky wrote: »

At £250 per month the gross interest interest maxes out at £81.25 for the 'basic' (5%) and £162.50 for the 'premium' (10%) product.

The lowest fee paying account ('Passport') charges £8/month x 12 months = £96, so the '10%' account is clearly a hook and not worth the candle.

While not disagreeing with you in principle, the 10% rate is also good for those who:

- qualify for the free HSBC Premier account (i.e. if you hold shares, ISAs or other savings with them); or

- if you have an HSBC Advance account and use the other features included - though I am not generally a fan of 'value added' current accounts and wouldn't get one just to qualify for the 10% rate.

Regards
Sunil

Careful_ly

Have opened today via internet banking. Can anyone confirm its okay to change the standing order date to early in the month for the next 11 payments?
I have had Hsbc regular savings in the past, set up by phone, and am almost certain that I brought forward the date of the regular payments at the time of opening.