Saturday, 28 November 2020

HSBC Bank Reviews: Checking, Savings and CD Rates

HSBC Bank Reviews: Checking, Savings and CD Rates
16 Aug
8:59

HSBC’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.01%

Savings

HSBC Online HSBC Everyday Savings

1.85%

Synchrony Bank High Yield Savings

on Synchrony Bank’s secure website

0.95%

CD Rates

HSBC 12 Month Online CD

2.45%

Synchrony Bank 12 Month CD

on Synchrony Bank’s secure website

0.10%

CD Rates

HSBC 36 Month Online CD

2.55%

Ally Bank High Yield 3 Year CD

on Ally Bank’s secure website

0.15%

CD Rates

HSBC 48 Month Online CD

3.00%

Barclays 60 Month Online CD

on Barclays’s secure website

HSBC Bank’s checking account options

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How HSBC Bank’s checking accounts compare

Despite the range of services available with HSBC Bank’s checking accounts, the interest rates paid on balances fall way short when compared to some of the best offerings out there. Other competitors offer much higher rates on checking accounts and require no minimum balances. Competitors offer free checks and ATM reimbursements without socking you with hefty fees like those charged by HSBC Bank. Unless have other existing accounts with HSBC Bank or are interested in the bank’s international products, you’re better off looking elsewhere.

HSBC Bank’s savings account options

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HSBC Bank’s CD rates

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How HSBC Bank’s CD rates compare

HSBC’s CDs are similar to its other retail banking products, with lower than average interest rates. Even the promotional rates for new customer fall short of their online counterparts’ CD rates and other banks and credit unions also offer a wider range of terms. Even though HSBC Bank does offer a lower minimum deposit amount, you’re still better off looking elsewhere.

Advertiser Disclosure: The card offers that appear on this site are from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all card companies or all card offers available in the marketplace.

Sarah Li Cain

Sarah Li Cain |

Sarah Li Cain is a writer at MagnifyMoney. You can email Sarah Li here

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Source: https://www.magnifymoney.com/blog/reviews/hsbc-bank/

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