HSBC offers 5.15 per cent high interest deposit bond in green sale

Following its success during the bank’s first annual sale, HSBC has brought back its 12-month High Interest Deposit Bond offer.

This year the offer of 5.15% gross/AER is exclusive to 1 year bonds opened online during the Green Sale period.

Mike Oliver, manager of HSBC’s Green Sale, said: “Almost a quarter (22 per cent) of savers don’t know what rate of interest they’re earning on their savings, which can only spell disaster for their savings goals.

High Interest Deposit Bonds are among the most straight-forward savings vehicles on the market. Savers know exactly where their money is, what rate of interest they’re earning, and when that interest will be paid, from the outset.”

HSBC’s Green Sale High Interest Deposit Bond features:

5.15 per cent gross AER fixed for 12 months
a minimum deposit of just £2,000 and a maximum balance of £49,999;
a choice of monthly or annual interest, and;
a straight-forward online application process.

The customer pays a lump sum into the account for a defined period of time, and is paid a fixed rate of interest for the agreed period. A customer who pays £10,000 into HSBC’s Green Sale bond during January, for example, will earn interest of £515 for the year.

As part of its Green Sale, the bank is also offering an extra one per cent on all new balances brought to its Flexible Saver or Premier Savings accounts for those who prefer instant access to their savings.

For every on-sale product sold, HSBC will contribute £2 to a fund that will be distributed among its charity partners - the Climate Group, Botanic Gardens Conservation International, Earthwatch Institute and ENCAMS, which runs the Keep Britain Tidy campaign. HSBC expects to raise more than £1 million for the four charities. HSBC will also make a 50p donation (up to £50,000) to the WWF for every customer who registers for HSBC internet banking during the sale period.