Updated
HSBC CD interest rates are competitive compared to other top banks. If you're interested in a safe, short-term investing opportunity, you should give HSBC CDs a closer look. Keep reading to learn more about HSBC CD rates and how they compare to other top banks' CDs.
HSBC CD rates for 2024
Compare HSBC CD rates
When you compare HSBC CD interest rates to brick-and-mortar banks, HSBC's competitive rates stand above the rest. Here's a closer look at how they compare to some of the other top CDs.
Rates as of April 25, 2024
| Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
|---|---|---|---|---|
Member FDIC.
| APY: 5.10% | Term: 10 Months | Min. Deposit: $0 | |
Member FDIC.
| APY: 4.70% | Term: 1 Year | Min. Deposit: $2,500 | |
| APY: 5.05% | Term: 1 Year | Min. Deposit: $1 | |
|
| APY: 5.15% | Term: 9 Months | Min. Deposit: $1 | |
Member FDIC.
| APY: 4.75% | Term: 1 Year | Min. Deposit: $500 |
Details of the HSBC CD
Pros
- High APYs
- No monthly fees
Cons
- Few terms
- High minimum deposit
HSBC CD Review
HSBC's short term CDs are pretty competitive. If you'd like to earn a decent amount of interest on your savings, but you're not ready to commit to a long-term CD, HSBC CDs are a great option. However, if you're interested in building a CD ladder, you may want to look elsewhere -- HSBC doesn't offer CDs longer than two years and requires a high minimum deposit.
Rates as of April 25, 2024
APY = Annual Percentage Yield
HSBC CD
MINIMUM DEPOSIT $1,000
| 6 Mo. APY | 1 Yr. APY | 2 Yr. APY |
|---|---|---|
| 3.75% | 4.50% | 3.75% |
Other HSBC CD accounts
HSBC does not offer any other types of CDs at present.
Our CDs methodology
At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.
See our full Ratings Methodology here.
FAQs
-
An HSBC CD is a good fit for those with at least $1,000 to spare who want to earn a competitive interest rate on a short-term CD.
-
An HSBC CD can help you grow your savings at a higher rate than you'll find with many savings accounts, as long as you can leave your money untouched for a few months.
-
An HSBC CD is a great fit for those interested in competitive short-term CDs, though those interested in long-term CDs will have to look elsewhere.
Our Banking Expert
Kailey Hagen has been writing about small businesses and finance for almost 10 years, with her work appearing on USA Today, CNN Money, Fox Business, and MSN Money. She specializes in personal and business bank accounts and software for small to medium-size businesses. She lives on what's almost a farm in northern Wisconsin with her husband and three dogs.
Share This Page
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. Ally is an advertising partner of The Ascent, a Motley Fool company. American Express is an advertising partner of The Ascent, a Motley Fool company. SLM is an advertising partner of The Ascent, a Motley Fool company. Charles Schwab is an advertising partner of The Ascent, a Motley Fool company. HSBC Holdings is an advertising partner of The Ascent, a Motley Fool company. Citigroup is an advertising partner of The Ascent, a Motley Fool company. Synchrony Financial is an advertising partner of The Ascent, a Motley Fool company. Kailey Hagen has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Charles Schwab, Goldman Sachs Group, PNC Financial Services, and Target. The Motley Fool recommends Barclays Plc, Discover Financial Services, and HSBC Holdings and recommends the following options: short March 2024 $65 puts on Charles Schwab. The Motley Fool has a disclosure policy.