HSBC Rate Drops to 3.25% APY
HSBC Direct announced today that their online savings account interest rate would be falling from 3.50% APY to 3.25% APY. While this isn’t enough to cause anyone to withdraw their funds to put it in another bank, it’s enough to change where people will put their next dollar. FNBO Direct’s rate is still 3.50% APY and WaMu has a 3.75% APY rate, though recent concerns about their liquidity has damped people’s enthusiasm for them.
On the flip side, if you want a good rate from your funds at HSBC Direct, they do offer a 6 month CD now for 3.75% APY.