HSBC Direct Drops Savings Rate
Tip It!Given the recent rates cuts by the Federal Reserve, this isn’t terribly surprising, but…
HSBC Direct has reduced their savings rate from 4.50% to 4.25% 3.55% 3.5% 2.60%.
If you’re curious how HSBC Direct stacks up against other features, be sure to check out my roundup of the best online savings accounts. And for updated rates, be sure to check out my list of online savings account interest rates.
Published on December 20th, 2007 - 9 Comments
Filed under: Banking
About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
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9 Responses to “HSBC Direct Drops Savings Rate”
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December 20th, 2007 at 11:57 pm
Etrade Complete Savings account still holding at 4.93-5.05%yd. No minimum.
December 21st, 2007 at 8:16 am
My WAMU on-line savings account is still at 4.65% … I’ve closed my HSBC account, as it has been lagging for a month or two now. Countrywide Bank has some short-term CDs at a 5.5 APY.
December 21st, 2007 at 8:29 am
AmTrustDirect.com = 5.11% APY
December 21st, 2007 at 1:31 pm
RJ: I think it is a good move on ETrade’s part to keep the savings rate higher than everyone else to keep customer assets.
December 21st, 2007 at 5:45 pm
MoneyNing-
I agree 100%. Good move for them, good for us.
December 22nd, 2007 at 2:33 pm
Why not just deposit with IndyMac or Countrywide. They’re offering desperately-high interest rates to boost their retail deposits.
And so long as you don’t deposit more than $100k, you’re safe.
December 22nd, 2007 at 5:59 pm
My local brick and mortar had a guaranteed rate of 5.25% through the end of the year. I knew it would be going down and was expecting it to be really low, but thankfully they are only lowering it to 4.25% which means that I likely won’t go to the bother of moving the money out of the account.
I might consider Emigrant, but their interface is so bad that the only reason I haven’t closed the account was that I have been too lazy for it.
December 23rd, 2007 at 12:17 am
FNBO direct still lists 5.05% yield and UFB direct – 5.22%.
December 23rd, 2007 at 6:49 pm
Just wanted to add my two cents on Etrade: Not only are they offering the best rates, their customer service is insanely responsive. I’ve been very pleased with them.