HSBC Savings at 3.5% APY

HSBC has raised the interest rate on it’s Online Savings Account to 3.5%. This rate is good through August 15th 2008.

There is no minimum balance requirement and you need to open the account with at least $1. You also get a free ATM card and free ATM withdrawls at and HSBC ATM. Just make sure to look at ATM fees on the machine you are using if you are using a non HSBC ATM. HSBC also has an ACH feature where you can push and pull money from your Online Savings account to other bank accounts that you may have. You can also set up scheduled transfers if you want to save money over time without having to log in and make the transfer each time.

I currently have most of my cash in this account and am very happy with it. If you have some cash sitting at low interst rates, this is great rate compared to everyone else.