Wednesday, 25 November 2020

HSBC Direct Review of Savings and CD Rates

HSBC Direct Review of Savings and CD Rates
29 Sep
9:31

HSBC’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.01%

Savings

HSBC Online HSBC Everyday Savings

1.90%

Goldman Sachs Bank USA High-yield Online Savings Account

on Goldman Sachs Bank USA’s secure website

0.95%

CD Rates

HSBC 12 Month Online CD

2.50%

Ally Bank High Yield 12-Month CD

on Ally Bank’s secure website

0.10%

CD Rates

HSBC 36 Month Online CD

2.70%

Synchrony Bank 36 Month CD

on Synchrony Bank’s secure website

0.15%

CD Rates

HSBC 48 Month Online CD

3.10%

Goldman Sachs Bank USA High-yield 5 Year CD

on Goldman Sachs Bank USA’s secure website

HSBC Direct’s savings account option

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How HSBC Direct’s savings account compares

HSBC Direct’s savings account offers one of the highest rates on the market. If you’re looking to grow your liquid savings, you should absolutely consider this account as a top contender.

It’s important to seek out information about HSBC Direct’s competition before you open your account — even if you’re not concerned about meeting the balance requirements.

HSBC Direct’s CD rates

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How HSBC Direct’s CD rates compare

HSBC Direct’s certificates of deposit pale in comparison to the competition. Even the highest rates offered are half, and sometimes even just one-third, of the best rates on the market. If you’re opening a certificate, you’re not going to be able to access your money for the entire length of the term without paying a penalty. Make sure the wait is worth it by scoring a higher APY on your CD.

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.

Brynne Conroy

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

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