HSBC Direct Drops Savings Rate

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.

9 Responses to “HSBC Direct Drops Savings Rate”

  1. Anonymous

    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.

  2. Anonymous

    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.

  3. Anonymous

    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.

  4. Anonymous

    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.

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