Bonus Savings Account


A cash bonus - for literally doing nothing

Saving isn't always easy. So if you're saving up for a car or some other larger purchase, our Bonus Savings Account gives you a helpful incentive - a bonus rate for each calendar month you don't make a withdrawal. So, start saving from as little as £1, sit back, relax, and let the rewards come to you.

  • bonus rate for any calendar month you don't make a withdrawal
  • instant access if you need it by an internal transfer to your first direct current account
  • earn a higher interest rate on balances up to £100,000
  • start saving from £1, no maximum balance
  • sole accounts only and one account per person.


View all awards

Bonus Savings Account at a glance

If you're looking for a good reason to keep saving, our Bonus Savings Account offers you a bonus rate if you don't make a withdrawal. This information will give you a better idea of what's involved - though please make sure you read the Interest Rates and Charges and Terms and Conditions in the left hand menu before you apply.

Our downloads are in a PDF format. To read them you'll need to have Adobe Reader 4.0™ or above. It's free and you can get Adobe Reader here.


Summary box and Key Product Information
Account Name

Bonus Savings Account.

Interest rates

Interest calculated daily and paid monthly.

See our interest rates and charges information for full details.

Tax status

Interest will be paid after the deduction of the basic rate of savings tax, currently 20%, unless you are eligible and have registered for non-taxable interest.

Conditions for bonus payment

Bonus and standard interest is paid for any calendar month in which no withdrawals have been made and the account hasn't been closed.

Withdrawal Arrangements

Instant withdrawals can be made by transfer to another first direct account in your name, over the phone, or via Internet Banking. Transfers to other banks may take longer.


You must already hold a first direct 1st Account to apply for a Bonus Savings Account. The account can be operated online, by telephone or by post.


Other things you should know

How much can I save?

You can open a Bonus Savings Account for as little as £1 and there are no limits to how much you can save.

The first direct Account Terms and Conditions (effective 1 January 2014) state that you must deposit and maintain a minimum balance of £3,000 or such other amount as we specify from time to time. With effect from 18 February 2014, this minimum balance requirement has been reduced from £3,000 to £1. Section 3, clause 2.2 of the first direct Account Terms and Conditions will be amended at the earliest opportunity to reflect this change.

How to manage my account

The Bonus Savings Account can be operated 24 hours a day online, by telephone or by post. You can make instant internal transfers to any other first direct account. Transfers to accounts held elsewhere may take longer.

How to apply

You can apply online or by telephone.

To apply for a Bonus Savings Account, you must already hold a first direct current account - our 1st Account.

If you are already a first direct customer you can apply for a Bonus Savings Account online by selecting the 'Apply' button on this page, or by telephone on 03 456 100 100.

If you are not currently a first direct customer, please call 0800 24 24 24 or 03 456 00 24 24.

What else should I know?

Available as a sole account only and limited to one account per customer.


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.





How to apply for a Bonus Savings Account

Already a customer?

You can apply online through your Internet Banking. As you're currently logged in, just select Apply online from the left hand menu within Internet Banking

Log on to apply

Once you've logged on to Internet Banking, just select 'apply online', in the left hand menu, and choose the 'Bonus Savings Account' option.

If you haven't yet registered for Internet Banking, simply click on the link below and follow the on-screen instructions.

Please note: You will need to have registered for telephone banking before you can access Internet Banking. You can do this by calling us on 03 456 100 100.

Register for Internet Banking

Not yet a customer?

To open a Bonus Savings Account you will also need to open a first direct 1st Account, our current account.

Learn more about the 1st Account

You can also talk to us anytime on:
03 456 00 24 24
0800 24 24 24

Before you apply, please read the following:-

Please print and save a copy for your records.

Our downloads are in a PDF format. To read them you'll need to have Adobe Reader 4.0™ or above. It's free and you can get Adobe Reader here.

You can find general information about financial products and managing your money on the Money Advice Service ™ website.


Protecting your money

Your eligible deposits with HSBC Bank plc are protected up to the FSCS compensation limit by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Most deposits are covered by the scheme. This limit is applied to the total of any deposits you have with HSBC and first direct.

On 3 July 2015, the Prudential Regulation Authority announced changes to the compensation limit. For those depositors covered by the FSCS prior to 3 July, (individuals and small companies) their limit of £85,000 will be maintained until 31 December 2015. After that it will change to £75,000.

Any deposits you hold above the FSCS compensation limit are unlikely to be covered, unless under specific circumstances, as determined by the FSCS.

For more information on the scheme, please select the links below to view the FSCS poster and leaflet as well as the Information Sheet and Exclusions List (IS&EL) or visit the FSCS website at






Our downloads are in a PDF format. To read them you'll need to have Adobe Reader 4.0™ or above. It's free and you can get Adobe Reader here.