I got another email today from HSBC announcing that they have once again lowered their Online Savings Account rate, this time to 3.80% APY based on the recent drop by the Federal Reserve.
My daughter's CD at our local bank will be coming up for renewal in March and I think I will go ahead and transfer the entire balance from her online savings account with HSBC and roll it into a new CD as long as the bank is still offering their current rate of 5.10% APY.
I don't want to totally give up on our online savings accounts, but I am becoming more and more convinced that we could probably do better elsewhere.
Tuesday, January 29, 2008
HSBC Direct Rate Change
Posted by Tracy at 1:58 PM
Labels: interest rates, savings
Subscribe to:
Post Comments (Atom)
1 comments:
Yep, it's unfortunate but my rate is now at 3.80% with HSBC. Looks like the good 'ol days of 5.05% are over for awhile. Like you mention, I believe today's 50 basis point cut in the fed funds rate will trigger even further HSBC interest rate declines.
Post a Comment