HSBC Online Savings Rate: Predictions? History
I thought this would make a good poll. What do you think HSBC's rates will be after its promotion is over on April 30th?
Currently, its online savings account is the leader at 4.80% APY. I'm hoping they stay the leader after April 30th. In the past year, they've done a good job at staying competitive. Here is their rate history:
01/30/06: 4.80%
12/15/05: 4.25%
11/04/05: 4.00%
09/01/05: 3.75%
08/11/05: 3.50%
07/07/05: 3.25%
03/25/05: 2.88%
For reference, here's the targeted federal funds rate history.
01/31/06: 4.50%
12/13/05: 4.25%
11/01/05: 4.00%
09/20/05: 3.75%
08/09/05: 3.50%
06/30/05: 3.25%
05/03/05: 3.00%
03/22/05: 2.75%
Before this 4.80% rate, HSBC has stayed close to the funds rate. That's why I'm thinking they may just keep the rate at 4.80% since the Fed will almost surely up the funds rate to 4.75% later this month.
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