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This comparison simply includes all savings accounts.

Nationwide
FlexDirect Current Account Nationwide
Open With £1000
Account Type Current Account
Interest AER 5.00%

Why we like it: 5.00% interest for 12 months on balances up to £2,500 for the first year. You must pay in £1,000 or more each month to receive interest (excluding transfers from any Nationwide account held by you or anyone else). 12 month fee-free arranged overdraft available. No monthly fee. Must be aged 18 or older.

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 1.30%

Why we like it: MARKET LEADING RATE. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes.

AA Savings
Easy Saver AA Savings
Min deposit £100
Term Instant Access
Interest AER 1.15%

Why we like it: Free withdrawals and no notice period. Deposit from £100. Includes a fixed bonus of 0.95% gross fixed for the first 12 months. Quick and easy online application

Oak North
Fixed Rate Bond Oak North
Min deposit £1000
Term 12 Months
Interest AER 1.87%

Why we like it: £1,000 minimum deposit, £250,000 maximum. Interest paid on maturity. No withdrawals permitted. FSCS Protected

Oak North
Fixed Rate Bond Oak North
Min deposit £1000
Term 18 Months
Interest AER 1.95%

Why we like it: £1,000 minimum deposit, £250,000 maximum. Interest paid on maturity. No withdrawals permitted. FSCS Protected

Oak North
Fixed Rate Bond Oak North
Min deposit £1000
Term 24 Months
Interest AER 2.14%

Why we like it: £1,000 minimum deposit, £250,000 maximum. Interest paid on maturity. No withdrawals permitted. FSCS Protected

Oak North
Fixed Rate Bond Oak North
Min deposit £1000
Term 30 Months
Interest AER 2.16%

Why we like it: £1,000 minimum deposit, £250,000 maximum. Interest paid on maturity. No withdrawals permitted. FSCS Protected

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 3 Years
Interest AER 2.31%

Why we like it: Save from £1,000 to £1,000,000. No withdrawals before the end of the term. RCI Bank are protected up to a total of €100,000 by the FGDR (Fonds de Garantie Dépôts et de Résolution), the French deposit protection scheme. Apply online.

Vanquis
Fixed Rate Bond Vanquis
Min deposit £1000
Term 4 Years
Interest AER 2.52%

Why we like it: Minimum deposit £1,000. Interest paid monthly or annually. Apply online. Eligible deposits covered by UK FSCS.

Vanquis
Fixed Rate Bond Vanquis
Min deposit £1000
Term 5 Years
Interest AER 2.66%

Why we like it: Minimum deposit £1,000. Interest paid monthly or annually. Apply online. Eligible deposits covered by UK FSCS.

Compare HSBC savings accounts

Getting the most out of your savings means making smart choices about where to put them. HSBC offer a range of different account types which can help you build on your savings over time. Knowing which account is right for you means making sure you are aware of all the different options available. Read on to see some of the main types of accounts you should consider.

Current Accounts

The best rates of interest are often found with current accounts, although you will only get those rates on deposits up to a certain size.

Getting the best rate may mean you have to switch to a new current account provider, and it is worth checking whether the rate is just for an introductory period or if you can expect it to carry on at that level in the long term.

Instant Access Savings Accounts

If your savings exceed the amount on which your current account pays interest, an instant access savings account offers many of the same benefits. You will be able to take your money out and put more in to suit you, and you may even be issued a card that lets you take cash out at ATMs.

Many accounts now come with internet and phone banking for extra convenience, but be aware there may be a limit on the number of times you can take money out each year.

Regular Savings Accounts

If you want to build savings up over time, a regular savings account will let you put a little away each month to do just that. They normally offer good rates of interest, although it may take a while to see the benefit as your capital will likely be quite low initially.

You will normally have to agree to make a minimum monthly deposit and there will likely be a maximum monthly deposit as well to prevent you building your savings faster if you later have more money to spare.

Fixed Rate Bonds

You can get attractive rates of interest with fixed rate bonds with the added benefit that those rates are guaranteed for the life of the bond. The downside is you won’t be able to take funds back out until the bond matures (typically after 1-5 years). Generally, the longer the term of the bond, the better interest rate you will get, making fixed rate bonds a good choice for long term saving.

Cash ISAs

British taxpayers normally pay tax on the interest they earn on their savings. However, cash ISAs allow you to earn interest on the money you place into them without paying tax. The amount you can put in is determined by the UK government and is £20,000 for the 2017/18 tax year.

You will normally have the choice of two main types of ISA: instant access and fixed term. Instant access cash ISAs offer variable rates of interest, and you can put money in and take it out at any time. Fixed term cash ISAs last for a set period during which you cannot make additional deposits or withdrawals. They pay a guaranteed rate of interest for the life of the ISA, much like a fixed rate bond.

Find the best HSBC savings account for you

Picking the best account for you when there are so many to choose from is a challenge, which is why we offer a savings account comparison tool. Head up to the top of the page to compare the best savings accounts from across the market to see which is the best fit for your saving goals.

Latest news

Pensioner Bond Maturity - 5 Ideas For Your Cash

From January 2018 over 900,000 people who invested in pensioner bonds will start to see their bonds mature. Savers who have been enjoying 4% pa are going to get a shock when they look for comparable returns from cash in the current market. We have put together 5 ideas for your cash in 2018

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About us

Simplysavingsaccounts.co.uk is a trading style of Fair Investment Company Ltd.

We've been comparing savings and current accounts for many years so you can trust you're in good hands.