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HSBC UK IS SET TO CUT A SWATHE OF RATES, AFFECTING CUSTOMERS NATIONWIDE, WITH A STAGGERED APPROACH TO THE CHANGES - AND THE FIRST ARE JUST DAYS AWAY. 12:51, 21 May 2025 HSBC is writing to
customers urging them to "review" their bank accounts. HSBC UK is set to cut a swathe of rates, affecting customers nationwide, with a staggered approach to the changes - and the
first are just days away. HSBC UK dropping rates on eight of its savings accounts, but the drops come into effect on different dates. The interest rate on its Online Bonus Saver is being cut
on July 21 from 4% AER to 3.75%, for balances between £1 - £50,000. The interest rate on the bank's Flexible Saver is also being cut from 1.35% to 1.3% from July 21. Anyone with a Help
to Buy ISA and balance over £12,000 will see their interest rate reduced from 1.35% to 1.30% from June 3. READ MORE NEW UK PRIMARY SCHOOL DINNER RULES WITH SOME STAPLES BEING
'BANNED' HSBC non-Premier customers will see the interest rate on the Loyalty Cash ISA cut (standard rate) from 2.15% to 2.10% from June 3. A spokesperson for HSBC said it was
"firmly focused on supporting customers with their savings". They added: "We provide overall value on our savings accounts that goes beyond interest rates to provide
flexibility, convenience, simplicity and organisational and financial stability for customers who want to save with a trusted high street brand. "There are several factors taken into
account when setting savings rates. We have designed our savings accounts to make it easy for our customers to start and maintain a savings habit so they can save towards longer term goals.
Article continues below "We also proactively remind customers of the need to review their savings, highlighting products that might also be suitable for them and where they could
benefit from a higher rate." The rate on the same ISA (loyalty rate) for non-Premier HSBC customers will drop from 2.35% to 2.30% under the shake up from the high street banking giant,
too.
