From an email dated January 16, 2007 from HSBC to its Online Savings Account customers. It seems they’re done revamping the web site, but I fail to see much difference. HSBC’s web site is still very cluttered and confusing. I like the color scheme, bold red accenting thin black lines, and the site has lots of good looking curves. But the layout is abandoned for some blocky, outdated navigation elements once you get deeper into the online banking area. The contents of the email is as follows:
Don’t just dream, plan.
Dear _____,
We’ve redesigned the HSBC Direct website with new tools and features so you can reach more than your financial goals: you can reach your dreams.
Your new HSBC Direct site features smart tools and calculators to help you plan, an updated FAQ section for fast answers, and improved navigation for quick account access.
Get the most out of your savings. Visit www.hsbcdirect.com today to take advantage of the new features, and reach your goals even sooner.
Your HSBC Direct Customer Service Team.
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on January 16th, 2007 at 1:08 pm
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Interest rate
Interest rate is the cost of borrowing money as a yearly percentage. For investors, interest rate is the rate earned on an investment as a yearly percentage. The simple interest rate is interest paid or received divided by loan or deposit. For example, $100 in annual interest on a $1,000 loan or deposit is a simple interest rate of 10%. Compounded interest rate is determined by the frequency of interest payments during the loan or deposit term. For example, a 10% loan or deposit that is compounded quarterly equals a compounded rate of 10.38%. If compounded daily, the compounded interest rate increases to 10.52%. (For CD investors, compounded interest rate is called annual percentage yield.)
Effective interest rate, or annual percentage rate (APR), is the true interest cost of borrowing. It includes fees and points you pay for a loan in the calculation. As a result, effective interest rate is higher than simple interest rate.
January 16th, 2007 at 2:25 pm
I’m a fan of the redesign. I think that the tools are a really nice addition and the access to customer service and updated FAQs are really helpful. Plus, I find the navigation much clearer.