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Email this1:35 pm
October 16, 2023
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I Bank with HSBC and noticed that they are offering bonus rates of up to 6.35% on their high interest savings accounts up till January 12, 2024.
3:24 pm
January 30, 2009
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In the offer terms it looks like you need to have over $25,000 deposited for the 6.35%. Otherwise you get 5.85%.
boboyisha said
I Bank with HSBC and noticed that they are offering bonus rates of up to 6.35% on their high interest savings accounts up till January 12, 2024.
3:31 pm
July 9, 2020
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At least both the regular and bonus interest are paid monthly (separately).
Fine print: https://www.hsbc.ca/content/dam/hsbc/ca/docs/pdf/hsbc-hrsa-new-deposits-offer-en.pdf
HOW BONUS INTEREST WILL BE PAID
1. Bonus interest is earned on New Deposits of up to CAD 1,000,000 in your HRSA at the annual rate of 4.50% during the promotion Period. Bonus interest is calculated daily on the daily closing balance of New Deposits and is paid monthly.
2. Bonus interest will be earned on New Deposits of up to CAD 1,000,000 in your HRSA, in addition to regular interest. The sum of regular interest and bonus interest will determine the total interest payable during the promotion period on New Deposits.
3. Bonus interest will be shown separately from your regular interest on your statements.
3:36 pm
October 27, 2018
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James said
In the offer terms it looks like you need to have over $25,000 deposited for the 6.35%. Otherwise you get 5.85%.
Yes, up to $24,999 it's 5.85%
for the incremental above 24,999, it is 6.35%
(Still sticking to Tang.'s 6% (for now)) Any big 6 and HSBC offer should be examined carefully. They didn't get to be so large by giving away too much.
3:54 pm
March 15, 2019
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Patch002 said
Yes, up to $24,999 it's 5.85%
for the incremental above 24,999, it is 6.35%
Sounds like there are TWO tiers
5.85% on first $24,999
6.35% on the excess
3:59 pm
August 14, 2023
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HSBC is also offering a competitive 2 year GIC for registered and non registered accounts. Looks like offer started OCT. 14th and appears to be a standard offer. Also a decent 3 year.
2-year term at 5.85% per year*
3-year term at 5.50% per year*
https://www.hsbc.ca/investments/gic/campaign-offer/q1/
For myself, I don't currently have a HSBC account . I have had my fill of FIs' and willing to take some off the top to stay consolidated with my current basket of FIs
Trader first, Saver second (sadly, TINA is back)
7:35 pm
November 5, 2022
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Previously with HSBC, once you cross the 25K, the entire balance gets the higher rate.
7:57 pm
April 27, 2017
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LoL. I had a decent amount of money going through HSBC on Oct 13th. Oh, well… Will have to stick with just 6% at Tangerine.
8:52 pm
January 30, 2009
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The rep today confirmed that this is the case (6.35% applies to entire balance once you hit $25,000) but you can’t withdraw and re-deposit. Also despite saying that it is for existing customers, there are lots of exclusions (must be “new funds”).
Do your own due diligence though and get it in writing if you’re taking the offer. Terms aren’t clear to me.
InterestThis said
Previously with HSBC, once you cross the 25K, the entire balance gets the higher rate.
1:06 am
April 14, 2021
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COIN said
Patch002 said
Yes, up to $24,999 it's 5.85%
for the incremental above 24,999, it is 6.35%
Sounds like there are TWO tiers
5.85% on first $24,999
6.35% on the excess
It certainly sounds that way, but their last offer was the max rate over the entire amount and not a two-tier calculation.
5:20 am
May 20, 2016
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So, if I deposit $40,000 new money,
(1) I get 5.85% for $24,999 and 6.35% for $15,001
OR
(2) I get 6.35% for entire $40,000
(1) or (2)?
6:21 am
February 14, 2023
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https://www.hsbc.ca/content/dam/hsbc/ca/docs/pdf/hsbc-hrsa-new-deposits-offer-en.pdf
Looks like 2 tier.
Still, on a 100k deposit the blended rate is ~6.22% and worth the move IMO.
8:02 am
November 5, 2022
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Last time, when over the limit, you get the higher interest rate on the entire balance.
8:41 am
April 14, 2021
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InterestThis said
Last time, when over the limit, you get the higher interest rate on the entire balance.
Same here
9:07 am
April 9, 2019
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Is this 6.35% offer applicable to small business corporate accounts or individual accounts only?
9:19 am
December 22, 2022
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boboyisha said
I Bank with HSBC and noticed that they are offering bonus rates of up to 6.35% on their high interest savings accounts up till January 12, 2024.
Do they make it easy to move large sums of money around from one FI to another?
9:51 am
February 14, 2023
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The Rock said
Do they make it easy to move large sums of money around from one FI to another?
nope, HSBC=PITA
11:01 am
December 22, 2022
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kesa said
nope, HSBC=PITA
I checked their online customer reviews and couldn't find one positive review, so I decided to pass.
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