work for you?
If you're putting money into a savings account for an emergency fund or saving up for a big purchase, you might as well take advantage of offers that will yield better than average interest rates.
According to the FDIC, the average savings account nets American customers a 0.1% annual percentage yield (APY). That's not a good deal. Especially since there are much better options out there. This HSBC Direct Savings account, for example, can accrue a 2.30% APY with as little as $1 in the bank. That's 23x the return. If you had $10,000 in your savings account you would earn $10 a year in interest with a traditional one, versus $232 with a rate that HSBC offers.
Plus, Slickdeals users applying for the first time will receive an exclusive $125 bonus if they're approved! We'll show you how.
What's an HSBC Direct Savings Account?
Touted as "a smarter way to save," the online-only HSBC Direct Savings account lets you take advantage of one of the highest savings rates around with a 2.30% APY on all balance tiers.
HSBC Direct Savings accounts also include the following:
- No monthly maintenance fees
- $1 minimum balance to earn APY
- Monthly compounding period
- Mobile check deposits
- Online transfers
- 24/7 online and mobile banking
- Live chat assistance
- Automated telephone banking
- Member FDIC
What Will You Need to Apply?
In order to apply online, you'll need to meet the following criteria:
- Be 18 years of age or older
- Have a Social Security Number
- Have a current U.S. residential address and a U.S. residential address for the past three years
- Possess a valid U.S. ID (driver’s license, non-driver identification card, learner permit), passport or Permanent Residential Card/Green Card
Additionally, you'll need to have your current account information available in order to fund your new HSBC savings account.
If you do decide to open an HSBC Direct Savings account, you'll want to leave your money untouched for a full six months. Otherwise, you'll be charged a $25 fee.
How to Earn the $125 HSBC Savings Account Bonus
In order to activate this $125 HSBC savings account promotion offer, please ensure the following:
- Whitelist Slickdeals in AdBlock
- Make sure cookies are enabled in your browser
- Complete your application in one browsing session
- Make sure Slickdeals is your last click to the advertiser
Finally, follow the steps below to avoid any processing issues:
- Make sure you're logged into your Slickdeals account before you apply. If you don't have a Slickdeals account, you can sign up here for free.
- Once you've logged into your Slickdeals account, click the "Apply Now" button below to apply for an HSBC Direct Savings account. You must apply through the link on this page in order to receive the $125 bonus.
- Don't close the HSBC application window prior to finishing your application. Closing the window may invalidate the bonus.
- If you're approved for an HSBC Direct Savings account, please submit this form with your Slickdeals username and your PayPal email address. (You must submit this form within four weeks of being approved in order to qualify.)
The $125 bonus will be sent to your PayPal account within 60 days of completing the steps above.
For questions related to this bonus, please email firstname.lastname@example.org.
Any product or service prices/offers that appear in this article are accurate at time of publish, and are subject to change without notice. Please verify the actual selling price and offer details on the merchant’s site before making a purchase.