HSBC Direct at 5.05% APY, Capital One 360 at 4.35% APY

That was fast. Ten days after going to 4.80%, HSBC Direct is now at a solid 5.05% APY. [HSBC Direct Opening Review]

Oh, and the little peep you hear is Capital One 360 inching up from 4.30% to 4.35% APY. Come on, ING! [ING $25 Opening Bonus]

Tools: Rate Chaser Calculator

Comments

  1. What is the reason that interest rates are rising so fast? What does this indicates?

  2. I wonder when GMAC is going to get an increase. It is stuck at 4.8 for a while. I remember during the dot com rush, the 5 Year CD rates had gone all the way up to 7%. I hope to get at least to 6% so I can lock in those rates.
    Thanks for keeping all of us posted.

  3. Presidential Premier Savings just went to 5.12% APY.
    Can you link HSBC or ING accounts to Premier Savings?

  4. Presidential Bank seems to be up to 5.12%. Its not listed on the main page yet, but when you click on the rates page, or the savings page, it is.

  5. Sean, 6% 5-year cd is already available and have been for some time @ agricultural FCU. Credit unions have limited membership but everyone can join a CityDance society for $20 and they will let you into the credit union.

  6. Below is information I have gathered about a special 3-month “Double Reward CD” at 5.76% APY at World Savings Bank. It is named “Double Reward CD” because upon maturity you have the option to renew it for another 3 months term at the same rate. If market rates are higher at that time you can withdraw the deposits after 3 months. Otherwise you can choose to renew it for another 3 months.

    These are the details on this CD:
    * 5.76% APY (5.60% interest rate)
    * 3-month term. Allowed to renew once at the same rate for another 3-month term.
    * $10K minimum deposit
    * $100K maximum deposit
    * Requires new money to World Savings (the check must come from another bank)
    * Starts 6/26/06 and ends 7/22/06.
    * CD is opened in-branch only. It is not listed publicly or available on web.
    * After the maturity date, there’s a 6-calendar-day grace period for you to renew or close the CD.
    * Early withdrawal penalty equals 30 days of interest.

  7. here i am at Emigrant with 4.8%

    I abandoned by VirtualBank which has been at 4.6% forever. Virtualbank used to be great but since then GMAC, Emigrant, and others are much higher

  8. Countrywide Bank has 5.25% APY for $49.000 – $99.000 balances…

  9. Bigmouth says:

    I moved most of my savings from ING to Citi now. ING deserves it, they are so slow lately…

  10. ING is pissing me off! Ok, well not really but their arrogance (we have great customer service and a user friendly website so we don’t have to compete) isn’t working for me anymore.

  11. Investor says:

    Yep, I moved out of ING as well. If they cant be agressive enough with the compitetiors they deserved to be dumped…

  12. Thanks LSD. The Agri FCU seems like a good idea. I’ll still wait a bit to see if GMAC catches up to 6% as it is much easier to bank with them.

    The issue with the rate chasing is having to open and maintain a lot of different bank accounts. This can be time consuming. I am trying to stick to GMAC, HSBC and ING apart from 2 credit unions I bank with. I’ve so far resisted temptation to open Citibank, Presidential or Countrywide. But if these other bank keep lagging, I’ll be forced to do that.

    I’ve been ING customer for now 5 years or so. I like the site but they have to compete. They cannot give lower rates than my local credit union (where I can write checks and withdraw money via ATM etc.) and think that customers are going to be loyal.

  13. Just out of curiosity.

    Which online bank has the best rates and “No gotchas”. I see that HSBC and citi have better savings rates, but they seem to have gotchas wrt to outgoing ACH transfer in terms of 3$ fee that they charge. I really hate such features, as I want my account with no strings attached.

    I think emigrantdirect does not have such gotchas, but lately they seem to be lagging a little bit w.r.t. rate increases.

    Any folks with experience with HSBC and citi savings accounts on their experiences??

  14. aa: HSBC does not have $3 outgoing fees for the online savings account. Thats for the checking and they even waive it for that if you have the online savings account.

    I never had a good experience with citi but I really like HSBC and I moved all my money there.

  15. I hade a bad experience with HSBC. They were unwilling to honor their $25 promotional code they had back in Janurary. They then asked me to fax in documantation about the code when it was right on their main website when it was opened. If they weren’t willing to honor the code, then I wouldn’t trust them with my money. So, I asked to close my account, and HSBC wanted to chagre me $25 for closing it early.

  16. Joe Nobody says:

    Dont fall for this…I am having hardtime withdrwaing my money from the account. Here is the timeline. I tried to transfer 525$ into my HSBC account on Monday due to some mistake on my other bank the transfer didnt happen monday and got rejected. Got an email from HSBC saying your account has insufficient fund and they will try to resubmit it next day. Tuesday they tried to withdraw money it went through (I can see the deduction made from my other bank account) but they place a hold on my bank to bank transfer. I call customer service on wed they said that the suspension will fall off by tomorrow. Thrusday I still had suspension so I called they said it will fall off AUTOMATICALLY by Friday. Obviously that didnt happen till saturday so I called again Saturday so now they opened a ticket and they said it will take 3 to 5 businss days to remove the suspension. What kind of the computer system they are using which takes 3 to 5 business days to remove a suspension? are we in the 80′s? I want to withdraw money now. there is more than 10k in my account. I dont understand their system why would for a 525$ incoming transaction thry would suspend my account which hs more than 10k left Customer service is rude and really doesnt seem to care about your request or wants.

    I WOULD ADVISE STAY AWAY FROM HSBC go to CITIBANK or ING or any other online banking there are many more options available.

  17. I also agree. Do not go to HSBC. I tried to transfer money and they suspended my login and my bank to bank transfers. When I asked why, I kept getting a different answer from each person that I talked to.

  18. HSBC is now down to 3.80% APY

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