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HSBC CD interest rates are competitive compared to other top banks. If you're interested in a safe, short-term investing opportunity, you should give HSBC CDs a closer look. Keep reading to learn more about HSBC CD rates and how they compare to other top banks' CDs.
When you compare HSBC CD interest rates to brick-and-mortar banks, HSBC's competitive rates stand above the rest. Here's a closer look at how they compare to some of the other top CDs.
Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
---|---|---|---|---|
Member FDIC.
| APY: 4.70% | Term: 1 Year | Min. Deposit: $2,500 |
Open Account for Discover® Bank CD
On Discover Bank's Secure Website. |
Member FDIC.
| APY: 5.20% | Term: 10 Months | Min. Deposit: $2,500 |
Open Account for
On Secure Website. |
Member FDIC.
| APY: 5.00% | Term: 1 Year | Min. Deposit: $0 |
Open Account for Barclays Online CD
On Barclays' Secure Website. |
Pros
Cons
HSBC's short term CDs are pretty competitive. If you'd like to earn a decent amount of interest on your savings, but you're not ready to commit to a long-term CD, HSBC CDs are a great option. However, if you're interested in building a CD ladder, you may want to look elsewhere -- HSBC doesn't offer CDs longer than two years and requires a high minimum deposit.
APY = Annual Percentage Yield
6 Mo. APY | 1 Yr. APY | 2 Yr. APY |
---|---|---|
3.75% | 4.50% | 3.75% |
HSBC does not offer any other types of CDs at present.
At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.
Learn more about how The Motley Fool Ascent rates bank accounts.
An HSBC CD is a good fit for those with at least $1,000 to spare who want to earn a competitive interest rate on a short-term CD.
An HSBC CD can help you grow your savings at a higher rate than you'll find with many savings accounts, as long as you can leave your money untouched for a few months.
An HSBC CD is a great fit for those interested in competitive short-term CDs, though those interested in long-term CDs will have to look elsewhere.
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