ING, Emigrant, HSBC & the rate cut

[rflorek]

Well, ING has lowered their rate to 3.65% after yesterday's rate cut. HSBC has only lowered their account to 4.25%. EmigrantDIrect still shows their rate as 4.55%, but it is shown as effective 1/10/2008, so I don't think they have adjusted for the rate cut yet.

 

[ameraumi]

Oh well, it is still better than the 1% I get at my bank and credit union.

 

[LorieR]

Well, ING has lowered their rate to 3.65% after yesterday's rate cut. HSBC has only lowered their account to 4.25%. EmigrantDIrect still shows their rate as 4.55%, but it is shown as effective 1/10/2008, so I don't think they have adjusted for the rate cut yet.

I believe HSBC was at 4.25% previously so I am sure that will be adjusted down also
ETA: If you check bankrate.com,Emigrant's rate of 4.55% is listed as of yesterday, 1/22. Maybe we can hope by some strange chance they don't lower it!

 

[Green Tea]

I am kicking myself for not buying an ING CD last summer.

 

[LorieR]

I am kicking myself for not buying an ING CD last summer.

I took money out of HSBC in December and got in on a 1-year CD at Apple Bank online at 5.26% apy. I now wish I had put double the amount in!!

 

[Irin997]

Emigrant Direct doesn't lower their rates until the 1st of the month following the rate cut. So the rate will change effective Feb 1st. This is how they've proceeded with the two previous rate cuts.

 

[starwood]

Oh well - I was expecting this. I have over $50,000 in the checking so at least that is getting 4%.

 

[rflorek]

I believe HSBC was at 4.25% previously so I am sure that will be adjusted down also

If you check right on the HSBC home page, the footnote for the 4.25% rate states as of 1/23/08.

 

[ldb1030]

Well, ING has lowered their rate to 3.65% after yesterday's rate cut. HSBC has only lowered their account to 4.25%. EmigrantDIrect still shows their rate as 4.55%, but it is shown as effective 1/10/2008, so I don't think they have adjusted for the rate cut yet.

Damn! I was just making a mental note to check my ING tonight when I get home from work when I saw your post!

 

[ldb1030]

Oh well, it is still better than the 1% I get at my bank and credit union.

True! I have exaclty the same thing........bank and CU at 1% ..........along with my ING.

 

[LorieR]

If you check right on the HSBC home page, the footnote for the 4.25% rate states as of 1/23/08.

(In response to my earlier: "I believe HSBC was at 4.25% previously so I am sure that will be adjusted down also.")

Not to beat a dead horse, but my statement for 1/4/08 states annual percentage yield earned 04.36%, which translates, I believe, to a 4.25% rate. So I guess we will just have to wait and see if/when they lower it.

 

[autumnbaby9]

The HSBC 4.25% was from the last rate cut. It has been that way for at least a month or two. Who knows what they are going to do with it now.