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  HSBC Bank Certificates of Deposit

HSBC Bank Certificates of Deposit

in CD Accounts from HSBC Bank USA · fdic

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HSBC Bank Certificates of Deposit

Claimed

in CD Accounts from HSBC Bank USA · Member FDIC

Net Recommendation Score -100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

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Minimum Opening Deposit Starting at $1,000
Certificate Term
  • 6 months
  • 12 months
  • 2 years
APY (Annual Percentage Yield) 0.3% - 0.4%

HSBC Bank Certificates of Deposit Review

HSBC Bank Certificates of Deposit is offered by HSBC Bank USA, a bank founded in 1865 and based in New York, NY. HSBC Bank Certificates of Deposit is available in 50 states (and Washington, DC).

Key Takeaways
  • Only one CD account type available. HSBC CD only offers traditional CD accounts.
  • Very high APY. This account offers an annual percentage yield of up to 0.4%, which is much higher than the national average for a CD account.
  • $1,000 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
  • Limited selection of CD terms. HSBC CD only offers three CD terms. This limits your options when trying to set up a CD ladder.
Pros & Cons of HSBC Bank Certificates of Deposit
Pros Cons
  • FDIC insured.
  • Available in all 50 states.
  • High-interest yield.
  • There isn't a no-penalty CD option.
  • Does not offer an IRA CD.
HSBC Bank Certificates of Deposit FAQ

Are cd accounts from HSBC Bank USA federally insured?

Yes, your HSBC Bank USA cd accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #57890). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What types of CDs does HSBC Bank USA offer?

HSBC CD provides the following types of CDs.
  • Traditional CDs. These CDs pay a fixed interest rate i you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or rolling over the CD for another term.

What CD rates does HSBC Bank USA offer on its CDs?

HSBC CD offers an APY starting at 0.3% and ranging up to 0.4%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

What terms does HSBC CD offer?

HSBC Bank USA offers CD terms of the following lengths:
HSBC Bank Certificates of Deposit Rates & Terms
Description
2-Year APY 0.4%
6-Month APY 0.3%
12-Month APY 0.4%
APY (Annual Percentage Yield) 0.3% - 0.4%

What is the minimum deposit to open a CD account with HSBC Bank USA?

HSBC CD requires a minimum deposit of $1,000 to open an account.

What is the grace period for HSBC CD?

There is a 10-day grace period for HSBC CD. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the 10-day grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does HSBC CD charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the CD term ends.

HSBC Bank USA does not charge an early withdrawal fee.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Opening Deposit Starting at $1,000
2-Year APY 0.4%
6-Month APY 0.3%
12-Month APY 0.4%
APY (Annual Percentage Yield) 0.3% - 0.4%
CD Accounts Traditional
Grace Period for Account Changes 10 days
Certificate Term
  • 6 months
  • 12 months
  • 2 years

HSBC Bank Certificates of Deposit Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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