HSBC 10% Regular Saver - any good?

Beate

Don't worry about it, there used to be a time when I made the same mistake. I have learned a lot on this forum!

djohnsonhk

Thanks for all your responses - so I guess it's not really worth it then. I don't actually have a Premier account, but for some reason whilst I was logged into HSBC's Internet Banking it did show me a big advertisement for the 10% offer (probably to try and get me to get a Premier account as well).

Thanks again, and it's nice to see it seeded quite a bit of discussion!

Darth_Calculus

Hey reehsetin, I would not worry, that is the most misleading interest calculator I have ever seen, no wonder you got the wong end of the stick!!

DJohnsonHK

It is not worth the £6.50 if it was a straight choice between the 10% or 8% reg savers, but with the Premier account you get other benefits, which if you actually use, then it *might* be worth it.

If you will use none of the extra Premier account benefits, then 8% reg saver is the way to go.

gt94sss2

If you qualify for HSBC Premier its free - so for those customers, getting the higher interest rates on some products including the regular saver is a nice bonus.

However, I suspect that most people getting the 10% regular saver would have the Bank Account Plus current account or the HSBC Passport account (which is for people moving to the UK) - both of which have a monthly fee payable.

The Bank Account Plus account isn't worth it just for the higher interest rate on the Regular Saver but may be worth getting if you use the other benefits (travel insurance etc)

The rest of us, have the bog standard - and free - HSBC Bank Account and get 8% on our Regular savers.

The one thing I wish though, is that HSBC would let you set up one of these online - without calling them.. I'm sure it used to be possible..

Regards
Sunil