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Choose the savings account that's right for you
No matter what you're saving for, HSBC has a variety of savings accounts to help you reach your goals quickly and conveniently.
High Rate Savings Account
Earn interest1 on every dollar in your CAD High Rate Savings Account.
No minimum balance, no monthly fees.
Manage your money 24/7 with Telephone and Online Banking.2
Maximize your savings with a high rate savings account.
Tax-Free Savings Account
Save faster with tax-free gains6
Withdraw funds anytime without paying a penalty7
As of 2022, you can contribute up to $6,0007 per year (previous annual limits were $5,000 CAD for 2009 to 2012, $5,500 CAD for 2013 to 2014, $10,000 CAD for 2015, $5,500 CAD for 2016 to 2018 and $6,000 CAD for 2019 to 2021), plus any unused contribution room from previous years, plus the amount of any withdrawals made in previous years.
Reach your savings goals faster with a tax-free savings account.
Earn daily interest on every dollar in your Youth Savings Account, paid monthly
No transaction fees
Unlimited withdrawals and debits
Free INTERAC e-Transfers® and mobile cheque deposits
Free withdrawals at HSBC Canada or THE EXCHANGE® Network ATMs, and unlimited rebates8 on ATM fees at other banks in Canada
Grow your savings with daily interest and zero transaction fees.
Foreign Currency Savings Accounts
Renminbi Savings Account
No minimum balance
Transfer between your other HSBC accounts through Online Banking or Telephone Banking10.
No interest paid
All transfers must be electronic via wire transfer or Online Banking.
An account that allows you to save in Renminbi with no monthly fees
Regular Savings Accounts in CAD and foreign currencies (U.S., Euro, Swiss, British, Japanese) and Investment Savings Accounts are no longer offered by HSBC. For information on any of these accounts, call us at 1-888-310-4722 or visit your local branch.
1 Interest rates are expressed on a per annum basis. Interest paid monthly and calculated on daily closing balance. Rates are subject to change without notice. For information and to confirm most recent rates, please contact any HSBC branch.
2 Accessible via online and ATM.
3 Global View and Global Transfers are not available in all countries and territories where HSBC Premier and HSBC Advance is offered. Certain services offered by members of HSBC in Canada may be restricted or unavailable if you move to another jurisdiction or are in another jurisdiction due to the local laws of that jurisdiction. HSBC Group may, however, be able to provide similar services through its members in that jurisdiction.
4 HSBC Premier eligibility requires you to have an active Premier chequing account, and meet one of the following criteria: (i) you maintain combined personal deposits and investments with HSBC Bank Canada and its subsidiaries of $100,000 or more, (ii) you hold personal HSBC Bank Canada residential mortgage with original amount of $500,000 or more, (iii) you have income deposits of $6,500 within a calendar month plus a confirmation of $100,000 or more in assets under management in Canada, or (iv) you qualify for HSBC Premier in another country. Some exclusions apply. For full details, refer to the Personal Service Charges Statement of Disclosure available at any HSBC Bank Canada branch or online at www.hsbc.ca.
5 HSBC Advance requires you to have an active HSBC Advance chequing account, and maintain combined personal deposits and investments with HSBC Bank Canada and its subsidiaries of $5,000 or hold personal HSBC Bank Canada residential mortgage with original amount of $150,000 or greater. Some exclusions apply. A monthly fee will be charged if you do not meet at least one of the conditions above. For full details regarding any fees which may apply please refer to the Personal Service Charges Statement of Disclosure available at any HSBC Bank Canada branch or online at www.hsbc.ca.
6 Income earned in a TFSA is not subject to Canadian taxes. Taxes of other countries may apply. Contributions to Tax-Free Savings Accounts (TFSAs) are limited annually. Generally, the maximum contribution room for a year is equal to the total of unused contribution room from the previous year, distributions made in the previous year and the TSFA dollar limit for the current year (TFSA dollar limit is determined by the Canada Revenue Agency and will no longer be indexed to inflation). The maximum annual contribution applies to all of your TFSAs held with HSBC Bank Canada or any other financial institution. Only Canadian residents, who are over 18 years of age and have a valid Social Insurance Number, can make contributions to a TFSA. Consult your tax advisor for full details about TFSAs and how they relate to your tax situation.
7 Re-contribution of money withdrawn from a TFSA may be subject to rules and annual limits. Consult your personal tax advisor.
8 Maximum rebate of $2.00 per transaction when you use a non-HSBC or non-EXCHANGE® Network ATM in Canada.
9 Foreign exchange charges may apply.
10 Including Telephone Banking and Online Banking withdrawals. Interac® Direct Payments, ATM withdrawals/transfers out and pre-authorized debits not available for Foreign Currency High Rate Savings accounts and Foreign Currency Savings Accounts. Only Canadian dollar accounts can be linked to HSBC bank cards.
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