If you;re not getting any interest on your savings then you should consider an HSBC fixed rate savings account as one of your options.

You can invest your cash from 3 months to 5 years with a top rate of 3.45% AER/Gross if you leave your money alone fo the full 5 years. The shorter the term, the lower the intrest rate will be.

As the savings account offers a fixed rate of interest for a certain duration, there are penalties to be paid if you want to withdraw your money and in the case of having more that £50,000 invested you cannot withdraw your money at all. If you invest between £2,000 and £50,000 you can withdraw your money before the end of the fixed term but you will be charged a fee of 90 days gross interest.

This review of the HSBC fixed rate savings accounts should not be considered as financial advice or endorsement. Consult an IFA if you need help with your investments.

This review was posted on Tuesday, September 13th, 2011 and the offer details may have changed or ended since writing or updating. Check the company website for up to date information on offers.

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