Today at Peak Personal Finance, we’re going to continue looking at certificate of deposit rates for your savings plans.
CD rates, especially with higher Annual Percentage Yields, are considered as the basic factor in determining the health of a financial institution. Customers like to do business with banks and financial institutions that offer the best rates and have other perks and benefits. The current cd rates offered by HSBC are quite the lucrative ones, especially if compared with other products.
HSBC CD Rates for 3 months investment are currently estimated at 0.15% with a minimum investment of $1,000. HSBC certificate of deposit rates for 6 months certificate are priced at 0.50%. A 9-month investment in these certificates yields 0.75% APY.
Standard investment of one year offers an APY of 1.25%, currently one of the best CD rates, while the minimum deposit remains the same at $1,000. A 2-year investment offers a lower return at 1.10% APY. HSBC offers a complete online solution for the opening of CD accounts. The bank offers a simple registration form that is necessary to be completed before the opening of accounts. Usernames and passwords are generated through this form that is later used for gaining entry into the secure features of HSBC website.
HSBC also offers branch and telephone deposit CD accounts but they offer lower rates. A 1-year investment only yields 0.55% whereas two to four year investments returns 0.75% APY. CD rates for investments of four years to 10 years are slightly higher at 1.01%. Customers with Premium checking accounts will receive higher APY for these certificates. They will receive an APY of 2.00% for an investment of 4-10 years whereas 2-4 year investment certificates will return 1.05%.
