Quarterly Bonus Saver Account - HSBC Expat

Quarterly Bonus Saver

Earn up to % AER/Gross (GBP)

Earn up to % AER/Gross (USD)

An online only instant access account with bonus interest payments.

Rates vary according to account balance.

Why open a Quarterly Bonus Saver?

  • Standard rates paid regardless of withdrawals
  • Bonus interest rates paid for every three month period where your account meets certain criteria
  • Available in Sterling and US dollars
More product details

How it works

Bonus interest rates are paid every 3 month period when no withdrawals have been made and the account balance is maintained at or above the minimum balance

When no withdrawals are made over the 3 month qualifying period you will receive both standard and bonus interest rates. Interest is paid on the first working day of the next calendar month. diagram showing no withdrawals over a 6 month period

When a withdrawal is made you will only receive the standard interest rate for that month and any months prior to that in the current qualifying period. A new 3 month qualifying period will start at the beginning of the month after the withdrawal. diagram showing a withdrawal within a 7 month period

Product details: Quarterly Bonus Saver

  • Standard rates up to: GBP % AER/Gross, USD % AER/Gross. The Standard rate is paid regardless of withdrawals
  • Available in Sterling and US dollar
  • Easy online account management via online banking - view your statements online and transfer funds to/from your account
  • Rates including bonus up to: GBP % AER/Gross, USD % AER/Gross. Bonus interest is paid after each 'Qualifying Three Month Period' on the first working day of the following month
  • The minimum opening balance for this account is: £5,000 or US$5,000
  • Easy access to your money – no notice required. What happens if I make a withdrawal?

Interest Rates

Compare, filter and sort our accounts and rates in your chosen currency.

Things you should know before you apply

Standard interest

Standard interest is calculated daily and paid monthly to your Quarterly Bonus Saver on the first working day of the next calendar month. Where the first day of the month is not a working day, the interest amount will include any interest accrued up to (but not including) the first working day of the month. No interest will be paid for any day when the balance is below the minimum balance requirements.

Bonus interest

Bonus interest is paid for every three month period where your account meets certain criteria: a 'Qualifying Three Month Period'.

What is a 'Qualifying Three Month Period'?

A 'Qualifying Three Month Period' is three full consecutive calendar months (e.g. 1st February to 30th April) where:

  • No withdrawals have been made from your Quarterly Bonus Saver Account, and
  • Your account is maintained at or above the minimum balance.

When does a 'Qualifying Three Month Period' begin?

As long as your account meets the minimum balance requirements, a 'Qualifying Three Month Period' begins either:

  • On the first of the month in which you open the account (irrespective of the date of the deposit), with interest being calculated from the date of the initial deposit, or
  • On the first of the month following a withdrawal being made from the Quarterly Bonus Saver, or
  • On the first of the month following a previous 'Qualifying Three Month Period' being completed.

How is bonus interest calculated and paid?

Bonus interest will accrue daily based on the daily closing balance of your account and be paid at the successful completion of each 'Qualifying Three Month Period'.

What happens if I make a withdrawal?

The 'Qualifying Three Month Period' will be voided and no bonus paid. If your account is at or above the minimum balance, a new 'Qualifying Three Month Period' will begin from the 1st of the following month.

If you make a withdrawal from your Quarterly Bonus Saver account the standard rate of interest continues to be calculated daily and paid monthly for the 'Qualifying Three Month Period' in which the withdrawal is made.

Withdraw funds via online banking by transfer to another HSBC account or to an account held elsewhere. Please note transfers to accounts held elsewhere may take longer (a daily maximum transfer limit applies).

What do “AER” and “Gross” mean?

AER (Annual Equivalent Rate): This is a notional interest rate which illustrates what the gross rate would be if interest were paid and compounded each year.

Gross: The interest rate before the deduction of tax applicable to interest on savings accounts.

Jersey Depositor Protection Scheme

HSBC Bank plc, Jersey Branch is a participant in the Jersey Bank Depositor Compensation Scheme. The Scheme offers protection for eligible deposits of up to £50,000. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period. Full details of the scheme and banking groups covered are available on the states of Jersey website or on request. Deposits and investments made with our office in Jersey are not protected by the rules made under the UK's Financial Services and Markets Act 2000, including the Financial Services Compensation Scheme, and the UK's Financial Ombudsman Service.

Important Information

Interest is paid gross without the deduction of tax. It is your responsibility to report earnings to the appropriate tax authorities. However, all the interest you earn from your accounts may be subject to reporting to relevant tax authorities.

Interest rates for this account may vary. If you are or become a Premier Customer, you qualify for preferential rates on the Quarterly Bonus Saver Account, subject to standard interest rates being more than 0%.

This product is not available in every country, please ensure your country of residence is up to date.

How to apply

I'm an existing HSBC Expat customer

Apply for a Quarterly Bonus Saver account via online banking. Once logged in, you will automatically be taken to the 'Open a new account' section.

I'm new to HSBC Expat

To apply you'll first need to become a customer of HSBC Expat, by applying for our Bank Account or any of our other savings accounts.

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