Online Bank Deals

Reviews and Comparisons of Online Banks and Savings Accounts

HSBC Direct Adjusts Rate on Online Savings to 2.45% APY

As of January 26, HSBC Direct adjusts the interest rate on the Online Savings money market account to 2.45% APY.

Dear XXXXXXX,

At HSBC Direct, we are committed to letting you know when your Online Savings Account rate changes. As of January 26, your rate has been adjusted to 2.45% APY*. While we had to make this change in response to the current interest rate environment, your Online Savings Account currently earns you five times the national statement savings average.±

HSBC Direct is part of HSBC Group with more than 140 years of history in helping our customers achieve their financial goals.

We also offer you competitive savings options via a multitude of CD offers, including our 2.75% APY*** for a 12-month term. As an HSBC Direct customer, you can apply in just minutes. Simply click here to learn about our latest rates.

Thank you for your continued support and your saving with HSBC Direct.

Learn More

Sincerely,
Kevin Martin
Executive Vice President
Head of HSBC Direct U.S.

HSBC Direct deposit accounts are offered by HSBC Bank USA, N.A. Member FDIC. Deposits are insured to the maximum permitted by law.

* Annual Percentage Yield (APY) for the Online Savings Account is accurate as of 01/29/2009. APY is variable and subject to change. Minimum deposit to open is $1.00. No regular monthly or transaction fees. Other account-related charges may apply (e.g., NSF, stop payment order, and returned item fees).

*** Annual Percentage Yield (APY) for the Online CD Account is accurate as of 01/29/2009. A penalty may be imposed for early withdrawal. Minimum balance to open and obtain APY is $10. APY subject to change without notice prior to account opening and funding and applies only to accounts opened through hsbcdirect.com.

± National Statement Savings Average located at http://bankrate.com/brm/publ/passbk.asp?caret=2 in the Passbook/Statement Savings survey results as of 10/15/08, courtesy of Bankrate.com.


Del.icio.us | Digg | Furl | Google Bookmarks | Technorati

This entry was posted on January 29th, 2009 at 9:38 pm and last modified on January 29th, 2009 at 9:38 pm, and is filed under News, HSBC. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply

« Time Is Running Out - Enter to Win Big
An Update Regarding Your HSBC Online Savings Account »

Savings Accounts

These are intended to provide an incentive for you to save money. You can make deposits and withdrawals, but usually can't write checks. They usually pay an interest rate that's higher than a checking account, but lower than a money market account or CD. Some savings accounts have a passbook, in which transactions are logged in a small booklet that you keep, while others have a monthly or quarterly statement detailing the transactions. Some savings accounts charge a fee if your balance falls below a specified minimum.