It's Official. HSBC Online Savings Account Now at 4.65%
May 18, 2006 - 2:39 PM by Ken Tumin
As I had posted yesterday, HSBC Direct did their official rate hike from 4.50% to 4.65% APY on their Online Savings Account today.
Who's going to be the next to raise their savings account rates? The last rate increase from EmigrantDirect was on March 15th when they raised their savings account rate from 4.25% to 4.50% APY. So Emigrant is due for an increase. I would expect at least a 0.25% increase within the next month. With Citibank's e-Savings account now at 4.75% and HSBC at 4.65%, hopefully, they'll do another 0.50% increase for a 5% APY. But if they don't feel the need to attract more deposits, they could be content to follow ING Direct.
One interesting note about EmigrantDirect's website is that they no longer mention "America's Highest Rate". Here's their front page archived on March 2005. Note the first bullet on their current front page no longer has "America's Highest Rate".
Who's going to be the next to raise their savings account rates? The last rate increase from EmigrantDirect was on March 15th when they raised their savings account rate from 4.25% to 4.50% APY. So Emigrant is due for an increase. I would expect at least a 0.25% increase within the next month. With Citibank's e-Savings account now at 4.75% and HSBC at 4.65%, hopefully, they'll do another 0.50% increase for a 5% APY. But if they don't feel the need to attract more deposits, they could be content to follow ING Direct.
One interesting note about EmigrantDirect's website is that they no longer mention "America's Highest Rate". Here's their front page archived on March 2005. Note the first bullet on their current front page no longer has "America's Highest Rate".
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