HSBC Direct Increases to 3.50% APY
This is just a quick note to let you know that HSBC Direct has increased their APY to 3.5%* through August 15, 2008. This puts HSBC well ahead of online banking favorites such as ING Direct and Emigrant Direct. If you’re curious how it stacks up in other features, be sure to check out my roundup of the best online savings accounts.
*For updated rates, be sure to check out my list of online savings account interest rates.
Published on June 2nd, 2008 - 7 Comments
Filed under: Banking
email this article
- add to tip'd - stumble it - digg it - bookmark it
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!
Related articles...
» HSBC Direct Drops Interest Rate» HSBC Direct Climbs to 4.80% APY
» HSBC Direct Account Verification
» Online Bank Interest Rates on the Rise? E-Trade Bank to 3.30% APY
» Opening an HSBC Direct Savings Account – Update
» HSBC Direct to Revamp Website
» HSBC Account Opening Process Complete
» HSBC Direct is Trying to Attract New Money
Was this article useful? Please sign up to receive our content via e-mail:
Great deals...
Readers’ choice...
Recent articles...
- Did Congress Make the Homebuyer Tax Credit Retroactive?
- Congress Extends $8000 Homebuyer Tax Credit, Adds New $6500 Credit
- Lending Club Update - October 2009 Performance
- How Much to Budget for Car Maintenance?
- Series I Savings Bonds Now Paying 3.36%
- Use Weight Loss Strategies to Get Out of Debt
- Weekly Roundup - Disney Shanghai Edition
- How to Save Money on Vacations
- Most and Least Reliable Cars - 2009 Edition
- Get 100 Free Trades from OptionsHouse Brokerage
Recent comments...
- Penny: I am about to purchase a new home.. which will be my new residence...
- APRIL DAYS: I FOR ONE HOPE THAT THE FIRST TIME HOMEOWNERS TAX CREDIT IS EXTENDED BECAUSE...
- JB: I drive a 1999 car and save $60 a month for car repairs, oil...
- Greta: My significant other and I bought a house in February 2009. My boyfriend...
- Jay: Don't forget nCleaner 2nd for turning off widows firewall and windows defender...also use the...
- Bryan: @Doug - you said it... if you simply delayed the closing, it would have...
- Sympathetic Dish TSR: @ Bonnie: Is your HD tv a Flatscreen LCD style? If so then a...
- John DeFlumeri Jr: Thanks for explaining the tax credit. Too bad for those who purchase in...
Most talked about...
- Dave Ramsey is Bad at Math
- $8,000 Homebuyer Tax Credit
- Dish Network Customer Service SUCKS
- How to Claim the First-Time Homebuyer Tax Credit
- $15,000 Homebuyer Tax Credit
- Reduced Credit Limits? Share Your Experience
- Would the "Fair Tax" Gut the Economy?
- Tax Stimulus Rebate Payments to Start Early
- Pay Off Mortgage Early? Or Invest?
- The Best Online Savings Accounts (Updated!)
- Life's Too Short to Drink Cheap Beer
- $7500 First Time Homebuyer Tax Credit
What will be the interest rate after august 15th for the HSBC?
Comment by JL — Jun 2nd 2008 @ 4:58 pmYour guess is as good as mine. There’s no good way of predicting bank interest rates that far out unless the bank guarantees a certain rate (like HSBC did in this case).
the same people who have frequent security problems? sike.
Comment by nacio — Jun 3rd 2008 @ 12:14 amDo you know anything about IndymacBank? They have MoneyMarket account that gives 3.85% on deposits over 10K.
Comment by Jerry — Jun 3rd 2008 @ 7:38 amHSBC wouldn’t give me an account because they didn’t like the info on my application, compared to my credit report. When pressed, they refused to tell me what the inconsistency was, so I couldn’t fix it. They just kept telling me to pull my credit report, which I had done. Went across the street, applied to ING, and had an account with them in less then a week. Heck with HSBC!
Comment by George — Jun 3rd 2008 @ 10:57 am“This puts HSBC well ahead of online banking favorites such as ING Direct and Emigrant Direct.”
True, but almost certainly for the promo period only. I base that on the past occassions when HSBC has raised their rate and then lowered it significantly after the promo.
Also, just for information purposes, 3.50% is still not a leading rate. IndyMac Bank, OneUnited, Provident Direct, Century Bank Direct, and even AARP all are, and have been, offering a higher rate. Similar to the HSBC offer, E-LOAN is offering a promo rate of 3.75% through the end of July.
Comment by William — Jun 3rd 2008 @ 11:52 amI just did a comparison of HSBC and ING direct, and you need to be a little bit wary of promotional rates. HSBC is not so bad as their regular rate is 3.45%. However that could drop to market average after the promotion.
Comment by Andys — Jul 15th 2008 @ 11:58 am