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Quarterly Bonus Saver

Quarterly Bonus Saver

Elevate your savings with a Quarterly Bonus Saver

Our new Quarterly Bonus Saver is an instant access account with additional 1% bonus interest if no withdrawals are made.

With the Quarterly Bonus Saver, let your money expand with little to no work.

Rates vary by minimum balance criteria – View our rates here.

How does the Quarterly Bonus Saver Work?

An instant access account with bonus interest payments

  • Standard interest rates up to 0.80% APR, automatically given to the account regardless of withdrawals, the account just needs to maintain a minimum $100 balance
  • Additional Bonus interest rates of 1% APR if no withdrawals are made after each Qualifying 3 Month Period*
  • Available in Bermuda Dollars, US Dollars and Canadian Dollars
  • Easy access to your money – no notice required for withdrawals

*APR - Interest earned on an annual basis.

*The minimum opening balance for this account is BMD$100, USD$100 or CAD$100

*A ‘Qualifying 3 Month Period’ is three full consecutive calendar months (e.g. February 1st – April 30th) wherein no withdrawals have been made from the account.

What you should know

  • Standard Interest - automatically given to the account when it is opened. The standard interest is calculated daily and paid monthly to your Quarterly Bonus Saver Account on the first business day of the next calendar month. Where the first day of the month is not a business day, the interest amount will include any interest accrued up to (but not including) the first business day of the month. No interest will be paid for any day when the balance is below the minimum balance requirements (i.e. $100).
  • Bonus Interest - interest paid in addition to the standard rate if no withdrawals are made within a Qualifying Three Month Period. If withdrawals are made from the account, the Qualifying Three Month period will reset on the first business day of the next month, if the withdrawal did not take the balance under the $100 minimum requirement.

Easy to open!

Apply for a Quarterly Bonus Saver online through Personal Internet Banking or make an appointment with a Premium Banker or Premier Relationship Manager.

If applying online follow the steps outlined below:

  • Login to the Personal Internet Banking platform.
  • Select "Open new account" from the left side navigation toolbar.
  • Select "Quarterly Bonus Saver" from the drop down box.
  • Select the currency you wish to open the account with.
  • Complete the application by filing a CRS form.

Example of the Quarterly Bonus Saver:

You open a Quarterly Bonus Saver account and deposit $10,000 on February 15th. Your Qualifying 3 Month Period’ will begin on February 1st, and end on April 30th. As interest is calculated daily, you won’t earn any interest for the 1st to the 14th of February as the account held a zero balance.

You will earn standard interest at the end of each month, regardless of whether you make any withdrawals. You will also earn bonus interest at the end of April if you make no withdrawals.

Your next Qualifying 3 Month Period will begin on May 1st and end on July 31st.

You decide to make a withdrawal on June 15th. You will still earn standard interest for May and June but your next Qualifying 3 Month Period will now start on the July 1st, the month after you made your withdrawal and end on the September 30th.

Printable Account Opening Information

Quarterly Bonus Saver Fact Sheet

Issued by HSBC Bank Bermuda Limited, of 37 Front Street, Hamilton Bermuda, which is licensed to conduct Banking Business by the Bermuda Monetary Authority. The Site is primarily intended for those who access it from within Bermuda. Because of this, we cannot guarantee that the Site or the information thereon complies with law or regulation of other countries, or is appropriate for use, in other places. You are wholly responsible for use of the Site by any person using your computer and you must ensure that any such person complies with these Terms. The information provided on this Site is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would be contrary to law or regulation. This Site should not be considered as communicating any invitation or inducement to engage in banking of investment activity or any offer to buy or sell any securities or other instruments outside Bermuda.