Know exactly what to expect from your money

Why choose a Fixed Rate Savings Account?

  • earn 4.30% AER/Gross for up to 13 months

  • save a one-off lump sum of between £2,000 and £1 million
  • open multiple Fixed Rate Savings Accounts
  • no partial withdrawals or additional deposits allowed*

*You'll be charged £100 if you take your money out before the end of the fixed term and depending on when you do this, you could get back less than originally paid in. New Fixed Rate Savings Accounts are released every month and interest rates may vary between them.

Put a lump sum away for a fixed term at a fixed rate, and you'll receive 4.30% AER/Gross between £2,000 and £1 million. Deposits mature on 27 June 2025.

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 rate of interest paid before any tax (where applicable) has been deducted.

UK residents only.

Key product info

Who can apply?

To get a Fixed Rate Savings Account, you must hold a first direct current account. You must also be a UK resident and be at least 18 years old. Both sole and joint accounts are permitted.

Open a Fixed Rate Savings Account

Current Account holders

To apply, start a chat with us in the 'Help' section of our App or select 'Message us' within Online Banking.

To make sure you get to the right place, then type ‘Apply for a savings account’ and choose ‘Open a new account’ and then ‘Open a new savings account’ from the list of options.

To apply for a Fixed Rate Savings Account in joint names give us a call to apply on 03 455 873 967

Don't have a Current Account with first direct?

This product is only available to first direct Current Account customers (you're more than welcome to join us!)

Useful information

Dive into the Cash ISA Acount details- Cash ISA Key Facts and Terms and Conditions (PDF)

Dive into fixed rate savings Account details- Account Terms and Conditions and Charges (PDF, 111KB)

What first direct do with your account information- Privacy Notice (PDF, 63KB)

Take a look at a detailed breakdown of interest rates linked to your savings account -Interest Rate and Charges (PDF, 126KB) (For 1st Account charges refer to Account Terms and Conditions and Charges)

Financial Services Compensation Scheme Information Sheet and Exclusions List-UK FSCS Information Sheet and Exclusions List (PDF, 44KB)

Important notes

Your eligible deposits with HSBC UK Bank plc are protected up to a total of £85,000 or up to £170,000 for joint accounts, by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. 

This limit is applied to the total of any deposits you have with the following: HSBC UK Bank plc and first direct. Any total deposits you hold above the limit between these brands are unlikely to be covered.