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How it works hero

How it
works

Important information - Active Savings helps you make your own decisions and is not personal advice. Fixed term products generally only allow access to funds at maturity. Inflation reduces the future spending power of money.

We do the hard work so you don’t have to

With Active Savings, you’ll no longer have the hassle of opening, closing and transferring your savings between different banks and building societies.

Once your account is open, you can pick and mix fixed term savings products from a range of banks and building societies, without ever having to fill in another form.

Get your savings active

Step 1

Getting started

Select open an Active Savings Account, and read the important information.

If you’re already an HL client you’ll find it easier to apply by logging into your account first.

Step 2

Open with just £1,000

You can add money with a debit card, or if you're logged in you'll also have the option of moving across any uninvested cash held in your Fund and Share Account.

The maximum payment you can make from a debit card is £99,999, but your bank may set lower limits. You can only transfer cleared money from settled trades from your HL Fund and Share Account.

Step 3

Choose as many savings products as you want

Once logged into your Active Savings Account, you’ll be given more information on each product to help with your choice. At the moment we offer fixed rate savings from typically 3 months up to 5 years.

You’ll need to choose your products within 3 working days of adding money to the Active Savings cash hub otherwise it will be returned to you.

Step 4

Manage your savings without the hassle

To make life easier you’ll get:

  • A monthly statement for your Active Savings Account
  • An email reminder when your fixed term is about to end
  • Notifications when you add or take money out of your account
  • An annual income tax summary for all your HL savings and investments

Step 5

Switch easily when your fixed term ends

When your savings reach the end of their term, your savings and interest will be returned to the cash hub.

You then have three working days to decide if you want to open a new savings product or withdraw your money. You can ask to withdraw your money online and we’ll send it to your nominated bank account.

What is the cash hub?

  • All money coming in and going out of your Active Savings Account goes through the cash hub
  • When money is added to the cash hub you have three working days to choose your savings product, after that we’ll return your money to you
  • You earn 0.0% interest until you add your money to savings products
  • Your money in the cash hub is held by Barclays
  • Interest and capital is returned to the cash hub when your fixed term ends

This website is issued by Hargreaves Lansdown Asset Management Limited (company number 1896481), which is authorised and regulated by the Financial Conduct Authority with firm reference 115248.

The Active Savings service is provided by Hargreaves Lansdown Savings Limited (company number 8355960). Hargreaves Lansdown Savings Limited is authorised by the Financial Conduct Authority under the Payment Services Regulations 2017 with firm reference 751996 for the provision of payment services. Hargreaves Lansdown Asset Management Limited and Hargreaves Lansdown Savings Limited are wholly owned subsidiaries of Hargreaves Lansdown plc (company number 2122142).

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All money coming in and out of Active Savings goes through the cash hub, where it earns 0.0% interest. It is where your money is held before you choose a product and where your savings and interest are paid when your fixed term ends.