New HSBC Regular Savings Account

[Deleted User]

So HSBC have pulled their old regular savings account:

- 8% AER/gross fixed for 12 months on deposits of £25 – £250
- No partial withdrawals allowed
- Available only to customers who have their monthly salary or retirement income paid to an HSBC Bank current account
- Interest is calculated daily and paid at maturity

What are peoples thoughts on them annoucing a new one? Is this standard practice for some banks? Would it be unusual for them to just not bother offering one?

Froglet

This was obviously a very popular one and has stayed the same rate for at least 3 years.I am on my third one!!.i am sure they will reintroduce it as it must encourage new customers to bank with them as well as take up the regular savings afterwards.Though not at such a high rate i would imagine.

Secret_Wookie_2

This was a loss leading product for them and was originally designed to attract customers in to open a current account in order to qualify. Later on
it was used to encourage customers to open a Bank a/c plus to get a 10% Regular Saver.

At the moment it looks as if Regular Savers have had their day unless one of the big banks decides to launch one that doesn't require a current a/c with them.

[Deleted User]

Abbey's 7.25% gross p.a./AER Fixed Rate Monthly Saver (Issue 7) ? No current account needed...

[Deleted User]

I've just rang HSBC and she's confirmed there's no plans to introduce a new regular savings account at the moment, oh well!