HSBC Serious Saver

Moneybuddy says

Savings account from HSBC with a great 4 month introductory rate. Like other online savings accounts there are no fees, no minimum balance, and you can link to any account. If you already bank with HSBC and you're a fan of online banking, this savings account can link up very easily with your everyday account. Just be aware that in any month when you make a withdrawal, you won't receive interest - it's incentive to save and not touch your money!

The Basics

Interest paid Monthly

Interest calculated Daily

Headline interest rate p.a. 5.55%

Monthly fee $0

Account type Savings

The cool stuff: features

ATM access -

EFTPOS access -

Branch access Yes

Internet Banking Yes

Age restrictions Yes

Cheque book facility -

Debit card -

BPAY -

GiroPost -

Phone access Yes

The Facts & Figures

Balance less than $1k (p.a.) -

Balance less than $5k (p.a.) -

Balance less than $25k (p.a.) -

Balance greater than $100k (p.a.) -

Min. balance -

Min. opening deposit -

Number of free elect transactions per month -

The ugly stuff: fees

Other bank ATM fee -

EFTPOS transaction fee -

Branch assistance fee -

* Important note: All product information comes from the product provider or an affiliate and to the best of our knowledge is correct at time of publishing. Money Buddy earns a referral fee in the form of a commission payment per successful application from redirecting website users to HSBC's website. Website users have no obligation to apply for a product or service that they may be referred to by this website.

HSBC says

HSBC Serious Saver - 5.55% p.a. gets you there sooner. Open a new HSBC Serious Saver to receive a variable introductory rate of 5.55%p.a. for 4 months on balances up to $1,000,000#, and get serious about saving for your next holiday..#Terms and Conditions apply http://www.hsbc.com.au/1/2/serious-saver?WT.ac=AUH_ssphp0811

Key features

  • Earn high interest every month you don't withdraw
  • No bank fees
  • No minimum opening or ongoing balance
  • 24/7 online access
  • Link Serious Saver to a nominated account for easy access to your savings
  • Interest calculated daily and paid monthly

Pros

  • No fees
  • Link to any (Australian) account
  • No minimum opening or ongoing account balance

Cons

  • If you make a withdrawal you don't get interest that month

Terms & conditions

Ongoing rate of 4.25% p.a. after the initial 4 month introductory period. Rates current as at 3 May 2012.

 

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