Rate Increase on Your Online Savings Account

From an email dated June 2, 2008. It’s about time the rates start going up again.

HSBC Direct.
Great news. Your rate has gone up.

The last time I wrote to you, I told you how committed we are to helping you get the most from your money and reach your savings goals faster.

Well, even as the economy continues to prove challenging and the Federal Reserve reduces rates, we have some good news to kick off your summer.

Your Online Savings Account rate has increased to 3.50% APY*, effective June 2, 2008. That’s up from 3.05% APY. And it’s 9x the national savings average.** This at a time when some other savings rates have been falling.

This great new rate will be available through August 15, 2008. After which, you’ll continue to get our great everyday rate. So the faster you deposit, the faster your money will grow.

And you can feel confident knowing that we’re part of the global HSBC Group ranked number one by Forbes magazine in their annual Global 2000 ranking issued on April 21, 2008.

Once again, I sincerely appreciate that you have chosen HSBC Direct as the place to make your money grow.

Kevin Martin, Executive Vice president, Head of HSBC Direct U.S
HSBC The World’s Local Bank, Member FDIC, Forbes

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

* Special Online Savings 3.50% Annual Percentage Yield (APY) is accurate through 08/15/2008. Minimum balance to obtain APY is $1.00. HSBC reserves the right to change or terminate this promotion at any time. Any change or termination will not affect existing customers who took advantage of the promotion. After promotion period interest rate and APY are variable and subject to change.

** National Statement Savings Average located at http://bankrate.com/brm/
publ/passbk.asp?caret=2 in the Passbook/Statement Savings survey results as of 04/09/08 courtesy of Bankrate.com. HSBC Direct Online Savings Account APY is currently 9 times the national statement savings average APY.