in Personal

HSBC Direct Savings Rate Increase to 6.00%

Im surprised I havent seen more posts about this recently, but a few weeks ago, HSBCDirect upped the rate on savings accounts from 5.05% to 6.00% (APY). The catch is that its only for new money – meaning if you already have $1000 in there, that $1000 will still only earn 5.05% (which isnt bad), but any money you transfer in above that $1000 will earn 6.00%. The second catch is that the 6.00% rate is only good until April 30th 2007 – so you cant actually earn 6% since it only applies for a couple of months. Still, if youre looking for a good high-yield savings account, this might be a good deal for you – at least worth a look.