HSBC ISA

By: EconomyWatch   Date: 25 September 2009

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HSBC ISA is an individual savings account that lets you save a maximum of £7,200 each tax year without being liable for any income tax and capital gains tax. The company offers both cash and stocks and shares ISAs.

HSBC Individual Savings Account – Options

HSBC offers many options to invest in individual savings accounts.

Cash e-ISA:Available only to personal internet banking customers of HSBC, this ISA provides a preferential interest rate with a tax free savings of up to £3,600 each tax year. You can invest in a onetime lump sum payment or throughout the tax year. The bank offers variable interest rates for this type of individual savings account. The major advantage is that you can access your account online anytime.

Variable Rate Cash ISA: This is cash HSBC ISA that offers tiered interest rates. It is a good investment option for people who want to save regularly. It is a tax free savings account that has no hidden charges.

Fixed Rate Cash ISA: This ISA comes with a fixed interest rate for the initial 12 months. This is an ideal investment for people who do not want to take much risk. The returns from this ISA will be secured for the investment period. HSBC offers the higher interest rates for its HSBC Plus and HSBC premium customers.

HSBC Selected Investment Funds: HSBC’s stocks and shares ISA allows you to invest in selected investment funds that will maximize your capital and income. HSBC ISA’s selected investment funds include some of the best investment vehicles. The company lets you make either a lump sum payment or monthly payments. It is an ideal medium-to-long term investment option. If you can hold your investment for at least five years, you will be able to earn healthy returns.

HSBC Stocks and Shares ISA: You can invest up to £7,200 in HSBC’s stocks and cash ISA each tax year. This option lets you invest in various investment vehicles including UK equities and government and corporate bonds.

The selection of the right HSBC ISA should depend on the interest rate, a person’s propensity to take risks and the investment period. An HSBC ISA is a good tax-saving investment option.


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Most Popular in ISA Individual Saving Account

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