http://www.hsbcdirect.com/1/2/1/



Anyone do this?

 

It says 4.8%

 

i've got an account with them, although most of my $$ is still with ING.

 

says 5.05% for me.

 

I opened a Countrywide.com cd for 5.5% for 9mos...the 12mos rate was 5.6%.

 

5.05% for me, but I'm taking it all out to close on the house next week

 

Awesome. I just opened an account last month and logged in today to see the rate increased to 5.05%. I hope it keeps rising.

 

With interest rates on the rise we all should see higher returns on this type of investment.

 

I saw this on their FAQ:


What rate will I get if I open an HSBCdirect Online Savings Account today?

Please refer to our home page for today’s Annual Percentage Yield (APY). [Currently 5.05%]

Our rates are variable based on competitive and market conditions. We are committed to offering a competitive Annual Percentage Yield.



Does this mean they can drop it to 4% (or anything lower than what I signed up with) next month?

 

Yup.

 

yes, but unlikely. rates only have upward mobility right now. you won't have to worry about them lowering rates, certainly not to 4%.

 

Yes, but it works both ways. It could also increase.

 

My question is when do they put the interest into your account? I opened an account in June and the interest payment hasn't posted to the account yet. My other banks deposit the interest on the 1st business day of the month.

 

Emigrant-Direct is now at 5%

 

I think it depends on when you opened your account. For example, mine gets put in on the 13th or 14th of each month, but I can't remember exactly what day I opened the account on.

 

Citi has a 6% short-term CD and lots of other places are 5.25-5.50% on CD rates. If you aren't getting 5%+ on basic savings, then it's time to change banks. I noticed ING just raised their rate to 4.35%, which I assume means they are pretty much loaded with enough cash to meet lending expectations.