HSBC recently cut the rate on their online savings account to 2.45% APY.
They were nice enough to send an email to customers alerting them to the change, saying that the change was necessary due to the economic environment and that you can earn more by using a CD.
Once a leader in online bank account rates, HSBC is drifting lower. Rates elsewhere have dropped over time, and we'll probably see more of it as banks struggle with profitability. Right now one of the most promising banks seems to be Clear Sky Accounts, a new FDIC insured option paying 3.75% through March.
Further reading:
Hi just wanted to know if it is woth refinancing our truck,sence the rates are even lower????????please awenser back soon.
Hi,
You’d have to check the rate, closing costs, and how much longer you have on the loan. The loan officer at your bank or credit union should be able to explain how much you’ll save by refinancing. The main risk is that you don’t want to end up upside down on the loan by refinancing and extending it.