Key product information

How it works

A Loyalty rate applies for 12 months* from the date of each payment into your ISA. If you make further payments into your ISA, your Loyalty rate period will begin again from the date of each payment. Upon the expiry of your Loyalty rate period, you will earn a standard rate of interest until you make a further payment.

You can start your ISA savings with any amount from £1. You could subscribe up to £15,000 this tax year.

Summary box

Product name HSBC Loyalty Cash ISA
Interest rates We pay interest monthly at a variable rate.

A Loyalty rate applies for 12 months* from the date of each payment into your ISA. If you make further payments into your ISA, your Loyalty rate period will begin again from the date of each payment. Upon the expiry of your Loyalty rate period, you will earn a standard rate of interest until you make a further payment.
* 12 months is calculated as 366 days for interest purposes to allow for leap years.

See current interest rates.
Tax status Interest is paid tax-free, that is free from UK Income Tax and Capital Gains Tax.
Conditions for bonus payment There is no bonus payment with this account.
Withdrawal arrangements Withdrawals are free of charge.

You have the right to cancel your account within 30 days of opening it.
Access You can apply for an HSBC Loyalty Cash ISA online, via our Mobile Banking app, in branch, over the phone or by post. You can transfer in existing cash ISAs and stocks and shares ISAs by completing and submitting a paper form.

Once opened, you can manage your account online, in branch or over the phone.

Things to consider

An ISA is a tax efficient way of saving or investing as all income and capital gains arising within an ISA are exempt from any personal liability to UK Income Tax and Capital Gains Tax.

There are two types of ISA:

  • cash
  • stocks and shares

The value of the tax benefits described depends on individual circumstances. The tax treatment of ISAs could change in the future.

The value of investments (and any income received from them) can fall as well as rise and you may not get back what you invested. For some investments this can also happen as a result of exchange rate fluctuations as shares and funds may have an exposure to overseas markets.

Recent HSBC Loyalty Cash ISA applications

If you already have an HSBC ISA, but haven't subscribed to it in the last tax year, you won't be able to subscribe in the current tax year.

To reactivate your ISA and make further subscriptions, please download the
HSBC Loyalty Cash ISA Reactivation Form (PDF).

Return it to us by post to the address on the form or drop in to your local branch. If you need help with filling in the form, just ask a member of staff – they'll be happy to assist you.

Definitions

AER stands for Annual Equivalent Rate. This shows you what the gross rate would be if interest were paid and compounded each year.

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

Tax free free from personal liability to any UK Income Tax and Capital Gains Tax.

ISA stands for Individual Savings Account.

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