bank rates

No Reason To Take HSBC’s CD Rates

There’s good news and bad news when it comes to CD rates at HSBC Bank.

Top rate from international bank is 0.80% APYThe good news is that the international bank, which has 470 U.S. branches, doesn’t offer different rates based on where you live or whether you have a relationship with the bank, like a checking account.

The bad news is that there simply isn’t a good CD rate in the bunch.

HSBC Bank’s best offering is 0.80% APY, and that’s for certificates of deposit of 48 months or longer. That’s nearly two full percentage points below the top nationally available 60-month CD.

And that rate is only for CDs purchased over the phone or in person at a branch. (The longest term offered online is 24-months for 0.35% APY.)

That top rate is a far cry from even the average yield large banks and thrifts have been offering, which is 1.05% for 36-month CDs and 1.71% APY for 60-month CDs.

If you want a better deal, check out the latest CD Rates Leaderboard.

You’ll find other deals if you compare HSBC Bank’s returns with the best CD rates from scores of other banks in our extensive database.

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Comments (1)
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One Existing Comment
  1. Kathy at Bankaholic said:
    on May 25th at 07:37 am

    Nothing new to report on HSBC’s rates as of May 25, 2011.