What types of HSBC Cash ISA are there?
There are two types of Cash ISAs available at HSBC, each with its own terms and conditions.
The HSBC Loyalty Cash ISA can be opened with just a £1 deposit but you’ll need to be a HSBC current account customer to open one.
This cash ISA pays you a higher “Loyalty” rate for 12 months before returning to a standard rate after that period. What type of loyalty rate depends on the type of HSBC current account you have
- HSBC Premier Customers
- HSBC Advance Customers
Other HSBC current account holders.
The ISA is instant access so you can retrieve your money when you like with no charges.
A HSBC Help to Buy ISA is available if you’re a first time buyer looking to save for your first home.
You can save up to £1,200 in the first calendar month and up to £200 monthly thereafter. On top of this, you will receive a 25% Government bonus up to a maximum of £3,000 on your savings.
The rate you’ll receive depends on your balance.