HSBC Direct's New Online Savings Rate + Rate History

HSBC, which bills itself as "the world's local bank," announced via email on 9/25/09 their new savings rate effective 9/23/09. HSBC lowered the annual percentage rate (APY) they pay on their "online savings account" to 1.35%. The prior rate was 1.45%. They should tell us this in advance, not two days after the fact.

Dear xxxx,
Thank you for choosing HSBC Direct for your savings needs. We wanted to let you know that your Online Savings Account rate was adjusted to 1.35% APY* as of 9/23/2009.

Rate history for HSBC Direct Online Savings Account

1.35% on 9/23/09
1.45% on 8/15/09
1.55% on 5/15/09
1.65% on 4/29/09
1.85% on 3/27/09
2.25% on 2/20/09
2.45% on 1/26/09
2.60% on 1/6/09
3.00% on 9/21/08
3.25% on 8/15/08 (about)
3.55% on 2/4/08
Was 4.25%, lowered to 3.80% on 1/29/08

HSBC Direct Online Savings Account Info:

• Annual Percentage Yield (APY) for the Online Savings Account is accurate as of 09/23/2009.
  
• APY is variable and subject to change.
  
• Minimum deposit to open is $1.00.

More information:

• HSBC CD Rates

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