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HSBC Direct 2.30% APY 12 Month CD

March 31st, 2009

HSBC Direct is offering a 2.35% APY 18 month CD, a 2.30% APY 12 month certificate of deposit, and a 2.05% APY 9 month CD. The minimum deposit on these CDs are unbeatable at only $10. What’s more, the early withdrawal penalty is a mere slap on the wrist at only 30 days’ interest. Most banks charge at least 90 days’ interest or even up to a whole year’s interest.

HSBC accounts are easy to open online and easy to fund. I have a HSBC savings account and the process was very painless. Speaking of which their online savings account is only getting 1.65% APY, but their interface is top notch. The days of getting well over 5% at HSBC are still fresh in my memory though.

HSBC Direct currently has a 2 out of 5 star soundness rating from bankrate.com which I think is a bit too low. HSBC is a FDIC insured bank and as always I advise you to stay under the insured limits.

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