HSBC Kinetic Savings Account

Account name: HSBC Kinetic Savings Account

What's the interest rate?

The savings account is set up so that different tiers of interest rates apply depending on how much you have in your account and for how many days you haven't made a withdrawal.

We calculate interest daily on the balance in your account and pay interest into your account on the day in the month you originally opened your account.

¹ AER (Annual Equivalent Rate): This is a notional rate which illustrates what the gross rate would be if interest were paid and compounded each year.

• We’ll pay you the Instant Access Rate from the time that you make your first deposit into your account. We’ll pay you this rate until 30 days have passed without a withdrawal, making you eligible for our 30+ Day Interest Rate.
• We’ll then pay you the 30+ Day Interest Rate until you make a withdrawal or until a further 30 consecutive days have passed without a withdrawal, making you eligible for the 60+ Day Interest Rate.
• If you make a withdrawal before you’re eligible for the 60+ Day Interest Rate, we’ll pay the Instant Access Rate from the day after your withdrawal.
• If you don’t make a withdrawal for 60 consecutive days, we’ll pay you the current 60+ Day Interest Rate.
• We’ll only pay you this rate until you make a withdrawal. Once you do we’ll pay the 30+ Day Interest Rate from the day after the withdrawal. You’ll start getting the 60+ Day Rate again once 30 days pass without you taking money out. If you make another withdrawal in that time, you’ll go back to the Instant Access Rate.

Can HSBC Kinetic change the interest rate?

Yes. If we reduce rates, we'll give you at least 14 days’ notice. Increased rates can happen before we tell you.

What would the estimated balance be after 12 months, based on a range of deposits?

These examples are based on the interest rates effective from 28 January 2025 and are subject to change.

For the purpose of this calculation, it's assumed:

• initial deposit of £1,000
• no additional deposits
• no withdrawals
• no change to the interest rates during the 12 months
• interest is paid monthly

For the purpose of this calculation, it's assumed:

• initial deposit of £1,000
• no additional deposits
• £50 withdrawn every month
• no change to the interest rate during the 12 months
• interest is paid monthly

For the purpose of this calculation, it's assumed:

• initial deposit of £1,000
• £100 withdrawn after 3 months
• £500 deposited 2 months later
• no change to the interest rates during the 12 months
• interest is paid monthly

• If you deposit enough, you can earn more.
• If you make withdrawals, the interest rate you earn goes down.
• Based on you paying in the following deposits on day 1 and making no withdrawals or additional deposits, your estimated balance after 12 months would be as shown in the table below.

How do I open and manage my account?

You're eligible if your business has annual turnover of up to £6.5 million.

There are no minimum or maximum deposit amounts. You can open and manage the account via the HSBC Kinetic app.

You don't need to open, hold or maintain an account with HSBC to open this account. But if you have a HSBC Kinetic Current Account you'll only be able to electronically transfer money from and to this account from and to your HSBC Kinetic Current Account.

If you don't have a HSBC Kinetic Current Account you'll be able to electronically transfer money from and to a single nominated account in the UK, Channel Islands or Isle of Man of the same business in the same name with HSBC or another bank.

Can I withdraw money?

Yes, you can make as many withdrawals as you like in cash in branch or by making an electronic payment to your HSBC Kinetic Current Account if you have one or, if you don’t, your nominated account in the same name.

You don’t have to give us any notice, but if you take money out of your account, your interest rate may change.

Additional Information

This is a sterling savings account. Although you can get your money out instantly, it's intended to be used to save money.

Definitions

• AER stands for annual equivalent rate. A notional rate which illustrates what the gross rate would be if interest was paid and compounded each year
• Gross is the rate of interest if interest was paid and not compounded each year

Accessibility

If you need any of this information in a different format, please let us know. This includes large print, braille, or audio. You can contact us using the HSBC Kinetic app, by vising one of our branches or by giving us a call.

There are also lots of other options available to help you communicate with us. Some of these are provided by third parties who are responsible for the service. These include a Text Relay Service and a British Sign Language (BSL) Video Relay Service. To find out more, please get in touch. You can also visit business.hsbc.uk/accessibility

or call us on 0345 587 3529

(if you're outside the UK, use +44 1397 436 960)

Leave your savings untouched for 30 days and they qualify for a higher interest rate band.

Leave those same funds untouched for 60 days or more, and they qualify for an even higher interest band.

For more details, see our interest rates page.