Bank Reviews

HSBC Reviews, Rates: CDs, Savings, Money Market, Mortgages

HSBC is one of the world’s most well-known banks. This bank is known to have four different business groups and specialize in the following: commercial, global, personal, and private banking. HSBC deals with bank marketing and is established around the entire world. The origin of HSBC Bank dates back from Hong Kong in the early 1860s. In 2010, HSBC was known to be worth more than 2 trillion dollars, which varies in the stock of different countries.

As a public bank, HSBC, has been one of most notorious for caring about their customers. They are a very well put together bank and remain very organized. HSCB holds number one rankings around the world for several financial awards and customer satisfaction honors. Because this bank is located in various locations around the world, it has a top ranking as the best foreign bank.

Review: HSBC Bank Services

Banking & Credit Card Services: There are four specific fields that HSBC Bank specializes in, but they have many sub-categories of services. HSBC offers their customers a credit card with low interest and high customer service rankings. This bank is also the leader in providing their customers with a variety of personal checking accounts. Customers have easy access to their accounts online through Internet banking. As a private customer, gain free reign on accessing your financial information from anywhere.

Loans Services: Through HSBC, an approved credit customer can receive a personal loan or a home loan. Rates are very flexible and HSBC works with their customers to provide a manageable plan that works. HSBC Bank is popular with businesses because of the easy financing and working capital solutions. If you are also a business owner, find solace in the fact that HSBC offers their customers financial backup. HSBC also has a marketing approach to help businesses reach their international financial goals.

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Obtaining a CD through HSBC Bank is ideal for those who would like to grow their money at a guaranteed interest rate that is compounded daily. By having aCD through HSBC Bank, you will be able to do your personal banking while online for no charge. The minimum balance to open a CD is $1,000.

NoteThese balance requirements and APYs will apply only to accounts opened through the HSBC’s website. All the rates are effective July 22, 2011.

HSBC Bank – CDs

  • 3 months – 0.05% APY
  • 4 months – 0.05% APY
  • 6 months – 0.10% APY
  • 7 months – 0.10% APY
  • 8 months – 0.10% APY
  • 9 months – 0.10% APY
  • 11 months – 0.10% APY
  • 1 yr plus 1 day – 0.20% APY
  • 13 months – 0.20% APY
  • 15 month – 0.20% APY
  • 2 years – 0.35% APY

Note: These balance requirements and APYs will apply only to accounts opened through an HSBC branch or over the telephone. All the rates are effective July 22, 2011.

HSBC Bank – CDs

  • 3 months – 0.05% APY
  • 4 months – 0.05% APY
  • 6 months – 0.10% APY
  • 7 months – 0.10% APY
  • 8 months – 0.10% APY
  • 9 months – 0.10% APY
  • 11 months – 0.10% APY
  • 1 yr plus 1 day – 0.20% APY
  • 13 months – 0.20% APY
  • 15 month – 0.20% APY
  • 2-4 years less 1 day – 0.35% APY
  • 4-10 years less 1 day – 0.80% APY

Terms & ConditionsA penalty may be imposed for early withdrawal.

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HSBC Bank has a variety of savings accounts to choose from. Whether you need to save for a goal or looking for a high interest rate, HSBC caters to your needs. They have a traditional savings account for leisured savers while also serving those who are investors.

NoteThese balance requirements and APYs will apply only to accounts opened through the HSBC’s website. All the rates are effective July 22, 2011.

HSBC Bank Online Savings

  • Minimum balance to open account – $1
  • Minimum balance to obtain APY – $0.01 or more
  • 0.80% APY

HSBC Bank Regular Savings

  • Minimum balance to open account – $1
  • Minimum balance to obtain APY – $100
  • 0.01% APY

NoteThese balance requirements and APYs will apply only to accounts opened through an HSBC branch or over the telephone. All the rates are effective July 22, 2011.

HSBC Bank Premier Investor

  • Minimum balance to open account – $1
  • $0-$24,999.99 – 0.20% APY
  • $25,000 – $99,999.99 – 0.50% APY
  • $100,000 – $249,999.99 – 0.50% APY
  • $250,000 or more – 0.50% APY

HSBC Bank Regular Savings

  • Minimum balance to open account – $1
  • Minimum balance to obtain APY – $100

Terms & Conditions: Interest rate and APY are variable and may change after account opening. Fees may reduce earnings on account.

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HSBC Bank offers a Premium Money Market Plus account that requires no minimum balance and has no monthly fees. You are able to add or withdraw money to it at anytime and given free personal internet banking. The minimum opening balance for the money market account and all accounts are only $1.

Note: These balance requirements and APYs will apply only to accounts opened through the HSBC’s website. All the rates are effective July 22, 2011.

HSBC Bank – Premium Money Market Plus

  • $0-$14,999.99 – 0.10% APY
  • $15,000.00 – $49,999.99 – 0.25% APY
  • $50,000.00 – $74,999.99 – 0.30% APY
  • $75,000.00 or more – 0.35% APY

NoteThese balance requirements and APYs will apply only to accounts opened through an HSBC branch or over the telephone. All the rates are effective July 22, 2011.

HSBC Bank – Premium Money Market Plus

  • $0-$14,999.99 – 0.10% APY
  • $15,000.00 – $49,999.99 – 0.25% APY
  • $50,000.00 – $74,999.99 – 0.30% APY
  • $75,000.00 or more – 0.35% APY

Terms & Conditions: Interest rate and APY are variable and may change after account opening. Fees may reduce earnings on account.

[tab:Mortgages]

With HSBC bank, you are a given piece of mind because of the friendly and supportive staff. They offer a broad selection of mortgage products tailored to meet different needs and budgets. You are able to use your home’s equity for a secured fixed rate loan or you may quality for a Premier Mortgage, which offers preferred rates and a closing credit. Whatever the choice may be, HSBC bank offers competitive rates to fit your lifestyle.

HSBC Bank – California: Fixed-Rated Mortgage Loans – as of 7/29/11

  • 15 yr Conforming Purchase – 4.000% Interest Rate – 4.239% APR – 7.39 Monthly P&I Payment Per $1000
  • 15 yr Conforming Refinance – 4.000% Interest Rate – 4.239% APR – 7.40 Monthly P&I Payment Per $1000
  • 30 yr Conforming Purchase – 4.750% Interest Rate – 4.896% APR – 5.21 Monthly P&I Payment Per $1000
  • 30 yr Conforming Refinance – 4.750% Interest Rate – 4.896% APR – 5.22 Monthly P&I Payment Per $1000
  • 30 yr FHA/VA Purchase – 4.625% Interest Rate – 4.809% APR – 5.14 Monthly P&I Payment Per $1000
  • 30 yr FHA/VA Refinance – 4.625% Interest Rate – 4.809% APR – 5.14 Monthly P&I Payment Per $1000
  • 30 yr Community Works – 4.375% Interest Rate – 4.515% APR – 4.99 Monthly P&I Payment Per $1000

 

HSBC Bank – California: Adjustable Rate Mortgage Loans – as of 7/29/11

  • 3/1 YR LIBOR ARM Conforming – 3.250% Interest Rate – 3.177% APR – 4.35 Monthly P&I Payment Per $1000
  • 5/1 YR LIBOR ARM Conforming – 3.375% Interest Rate – 3.254% APR – 4.42 Monthly P&I Payment Per $1000

Terms & ConditionsConventional APRs are based on a $150,000 loan amount and assume a 20% downpayment. FHA, VA and CommunityWorks APRs assume a $75,000 loan amount and a 3% downpayment. SONYMA APR assumes a $150,000 loan amount and a 3% downpayment. Jumbo ARMs and fixed-rate APRs assume a $417,001 loan amount with a 20% downpayment. Private Mortgage Insurance, FHA Mortgage Insurance Premium or VA Funding Fee is included for loans with a downpayment of less than 20%.

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