HSBC account to experience 'rate increase'

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HSBC account to experience 'rate increase'

HSBC is set to increase the rate of its online saving option by a quarter point from June 4th onwards.

The HSBC account, which does not necessitate making regular deposits, will have a new rate of six per cent, making it one of the highest rates of interest available online.

Requiring a minimum opening balance of £1, the HSBC account has its interest calculated daily and paid on a monthly basis into the customer's online saver.

Those people who wish to do so can transfer interest accrued into another HSBC account if they wish.

HSBC will also be raising its flexible saver, instant access saver, cash mini Isa, premier savings and children's savings accounts by a quarter point from June 4th.

The group's fixed-rate bonds and its eight and ten per cent accounts will remain unchanged.

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Related News : HSBC

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