There are several types of savings accounts you can choose from. The right one for you will depend on what you're saving for or the specific savings goal you want to achieve.
It can be a good idea to hold a number of different savings accounts, each for a specific type of saving. For example, you could use one to cover unexpected costs, one to fund a holiday, one to save up for a down payment on a home, and so on.
You can also choose to place your money in investment instruments such as a fixed deposit instead of a savings account.
Type | Key features | Good for |
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Current/Savings Account (Everyday Global Account) |
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Consolidating all your transactions and salary into one account and earning attractive interest and cashback when you transact and save with HSBC with our Everyday+ Rewards Programme. |
Time deposit (Also known as Fixed deposit) |
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Depositing funds that you know you won't need for a set period of time, so it could be suitable for longer-term savings goals. |
Investment Account |
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Setting aside money you're not going to need for years, such as your retirement. |
Type | Current/Savings Account (Everyday Global Account) | Current/Savings Account (Everyday Global Account) |
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Key features |
|
|
Good for |
Consolidating all your transactions and salary into one account and earning attractive interest and cashback when you transact and save with HSBC with our Everyday+ Rewards Programme. |
Consolidating all your transactions and salary into one account and earning attractive interest and cashback when you transact and save with HSBC with our Everyday+ Rewards Programme. |
Type | Time deposit (Also known as Fixed deposit) | Time deposit (Also known as Fixed deposit) |
Key features |
|
|
Good for | Depositing funds that you know you won't need for a set period of time, so it could be suitable for longer-term savings goals. | Depositing funds that you know you won't need for a set period of time, so it could be suitable for longer-term savings goals. |
Type | Investment Account | Investment Account |
Key features |
|
|
Good for | Setting aside money you're not going to need for years, such as your retirement. | Setting aside money you're not going to need for years, such as your retirement. |