HSBC UK 1 Year Fixed Rate Bond

HSBC 1 Year Fixed Rate Bond

Website: http://www.hsbc.co.uk

Authority: HSBC (Hongkong and Shanghai Banking Corporation) is a UK major bank. It is part of the HSBC Bank plc a wholly owned subsidiary of HSBC holdings the major international banking and financial services group which began in 1865.  The bank has 1,311 branches in the UK. (Annual Report 2010) 

How to open a UK HSBC Fixed Rate Bond (or Fixed Rate Saver product):

For existing customers of HSBC UK 

- You must have a HSBC current or savings account and if you do, you can log on and apply through the website. Note you must also be registered for internet banking.

- You may also decide to visit a local HSBC UK branch to open an account. You may find the nearest branch on the HSBC UK website at http://www.hsbc.co.uk

For new customers of HSBC UK 

- You must open a HSBC current or savings account and register for internet banking to apply online.

- You can also call by telephone them on 0800 032 4729.

- You may also visit a local branch to open an account. You may find the nearest branch on the HSBC UK website.

What are the eligibility requirements to open a UK HSBC Fixed Rate Bond or equivalent:

- According to their website, the customer must be aged 7 years or over (with accounts to be open by anyone over 18 years old, on behalf of the child) as well as have HSBC current account or savings account (other than a ISA account).

Information to consider when opening an HSBC 1 Year Fixed Rate Bond or equivalent:

Like other banks, HSBC UK customer deposits are a source of funds to finance lending to customers. In determining the rates HSBC UK sets for its fixed rate deposit accounts, the most influential is the Bank of England with its monetary policy decisions on the 'bank rate'. For a 1 Year fixed term rate, it would forecast the BOE decisions into the future as well as consider its profit spreads on its business model (costs of maintaining branch and atm network vs online banks) as well as liquidity requirements when setting this rate.

Rate applies to the HSBC 'fixed rate saver' product which has Interest paid monthly. Deposit balances vary the AER interest rate.


Monthly


2,000+   |  1.00%

50,000+ |  1.10%

250,000+ |  1.20%



Annual

2,000+   |  1.00%

50,000+ |  1.10%

250,000+ |  1.20%

Open a HSBC UK 1 Year Fixed Rate BondApply Now
Rate 1.20%
Type Fixed
Currency GBP

Comparison

The rate of 1.20% is 0.15% lower than the average 1.35%. Also it is 0.4 % lower than the highest rate.

Last updated Nov, 2014