HSBC Advance CD Rates

By: EconomyWatch Content Team   Date: 13 July 2010

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HSBC Advance is often referred to as the “world’s local bank” because it is a financial institution found all over the world. HSBC stands for Hongkong and Shanghai Banking Corporation. The bank got its start back in 1865 by a man named Thomas Sutherland. The goals of the bank are very basic and to the point. They wish to simplify the banking needs of their customers and do everything they can to help them work towards the financial goals they have for the future.

At HSBC Advance you can apply for one account, two or more. It all depends upon what your goals are for your money. If you need help deciding what account is in your best interests for where you are right now in your life then you can drop into a branch of the HSBC to talk with a representative or else you can call or e-mail the bank and discuss the situation with them through this method of communication.

HSBC offers a premier investor savings account, regular savings, online savings account, premium money market plus and certificates of deposit (CDs).You can open any one of these accounts if you go to the bank directly or through the online venue.

The HSBC Advance CD rates are competitive with other financial institutions and provide you with the opportunity to grow your money at interest rates that are guaranteed. Interest is compounded daily on a CD account. With a certificate of deposit from the HSBC bank you get free personal Internet banking. As well there are no start-up fees and no maintenance fees. However early withdrawal is strongly discouraged. You will have to pay a penalty for early withdrawal and it will cause you to forfeit a percentage of your earnings.

In order to open a certificate of deposit account at HSBC Advance you must have $1,000. This is also the amount of money you need to keep as a minimum balance in order to obtain the Annual Percentage Yield (APY) that you wish to have.

Here are the HSBC Advance CD rates that are current as of July 1, 2010:

•    3 Month Term- 0.05% APY
•    4 Month Term- 0.05% APY
•    6 Month Term- 0.10% APY
•    7 Month Term- 0.10% APY
•    8 Month Term- 0.10% APY
•    9 Month Term- 0.10% APY
•    11 Month Term- 0.10% APY
•    1 Year Plus 1 Day Term- 1.01% APY
•    13 Month Term- 1.01% APY
•    15 Month Term- 1.01% APY
•    2 Year Term- 0.75% APY

Visit the HSBC Advance website to learn more about the good rates it has to offer you. The website can be found at http://www.hsbc.com/.


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