HSBC Direct Now Paying… 4.80% APY Interest!

HSBC Direct is now paying 4.80% APY on their OnlineSavings accounts. It’s not updated on their front page, but it is shown on their Rates page. For those with accounts, check out my Rate Chaser Calculator if you are at a lower rate right now and are thinking of transferring money. Use the HSBC transfer schedule for reference. For those without, don’t miss the $25 HSBC Direct bonus.

Update: It’s only until 4/30.


  1. T-bill went up today, too, LOL!!!

  2. holy crap. that’s a butt load.

  3. I received a promotional offer a couple of days ago and the fineprint said the 4.8% rate is a promotional offer for new accounts and this rate expires after a limited period of time – by end of March, if I remember correcty.

  4. Yep. It is promo . only valid till 4/30

    Thanx a lot ING for tis F%%@@ing gimmick

  5. oh man… would have been awesome if this promo didnt expire in march….

  6. Jane Dough says:

    A commenter on my blog linked to the PDF from HSBC and it did not state an experation date for the rate. However, it did have the normal “We can change our rates whenever we want” legal mumbo jumbo. If ING Direct lowers their rate from 4.75% back down after 4/15/06 as they advertise I don’t see the incentive for HSBC Direct to keep their rate at 4.80%. However, if the rate wars continue we savers should continue to see high rates for the forseeable future.

    Carpe Diem folks – sieze these rates while you can! link

  7. I don’t know, I would call but I don’t think all the CSRs know what they’re talking about anyways. I’ll just wait for the dust to settle. All I know is that as of today they are paying 4.80% APY on all their balances.

  8. Nathan Whitehead says:

    Thanks for the tip. Do you have personal experience using their service? (I’m a new reader of your blog, sorry if this is a stupid question).

  9. I just opened an hsbc account to get the 25$ bonus, and reading there transfer policy it says 3$ for each outbound transfer thats not to hsbc, if i initiate the transfer from another account do i still get charged the 3$(such as getting my brokerage account to pull it out for a deposit)thanks

  10. the below is an excerpt from a comment on a different HSBC post from ‘mc’ last month … does anyone have any insight on this?

    ‘The thing that I wonder about is HSBC seems to use average balance to calculate interest whereas ING seems to just start accruing as you deposit etc. Even if this is so, I’m not clear if just the straight APY to APY comparison makes that moot, or if we’re somehow getting a little less in HSBC because of when in the month we might deposit yaddy yaddy.’

  11. HSBC is the WORST savings account option out there. Stick with ING – they make managing your money a whole lot simpler.

    HSBC wants a lot more information to open an account, they have a ridiculously long Customer ID number that they only give you by snail mail, a password you don’t get to choose that also only comes by mail, and you can’t link to another account to make an easy transfer unless you have an HSBC credit or ATM card. What a pain in the ass! If you just want to do simple savings online, go with ING.

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