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With so many banks dropping their rates in the past week, I just wanted to point out HSBC savings right now.  The only reason I’m pointing this rate out is based on the fact that they have had this rate consistently running for almost a few months now.  It’s been going strong at 3% since October of 2008.

Here’s what you get with a HSBC Savings Account –

• No fees.
• No minimums.
• FDIC insured.
• 7x nation average.

If you’ve been looking for a decent savings account, I would add HSBC to the list as well.  I’ve heard nothing but good things with the bank.  Get more information at HSBC.com.

Annual Percentage Yield (APY) is accurate as of 12/31/2008. APY is variable and subject to change. Minimum deposit to open in $1.00.
No regular monthly or transaction fees. Other account-related charges may apply (e.g., NSF, stop payment order, and returned item fees).

± National Statement Savings Average located at www.bankrate.com/brm/publ/passbk.asp?caret=2 in the Passbook/Statement Savings survey results as of 10/15/08 courtesy of Bankrate.com. HSBC Direct Online Savings Account APY is currently 7 times the national statement savings average APY.

§§ No regular monthly or transaction fees. Other account-related charges may apply (e.g. NSF, stop payment order, and return item fees).

† HSBC Direct deposit accounts are offered by HSBC Bank USA, N.A. Member FDIC. Deposits are insured to the maximum permitted by law.

A lot of banks dropped their rates this week.  It’s hard to even find a rate over 4% today.  The only rates you’ll find above 4% are on the 5 year CD chart.

As for the new additions this week, I added UFBDirect.com and Heritage Bank.  UFBDirect is offering a 2.25% 3 month CD and Heritage is offering  a 2.30% APY 3 month CD.  It’s nothing special but they fall into the top 10.

If you’re still looking for that 5 star bank, Capital One and Discover are still the only banks with a 5 star rating but their rates have dropped over the week.

According to last week’s poll, 237 people said this –

46% say invest in a 3 month - 1 year CD

8% say invest in a 2 year

7% say invest a 3 year

10% say money market

27% have no clue what they want to invest in.

If you want to participate in the poll, visit the homepage and even if you don’t know what you want to vote in, help others out by simply clicking on “I’m not sure”.

Also, I just want to wish everyone a Happy New Year!  Let’s hope 2009 is better than 2008!

Open up a Heartland Bank Direct savings account and keep it open for at least 6 months and you’ll get a bonus of up to $50.

• You must have $5.00 per $1,000 average monthly balance of the previous six months.
• Minimum average monthly balance must be $1,000.
• One bonus per account per calendar year.

As of 12/28/2008, Heartland Direct’s savings account is at 3.05% APY.  It has no fees, no direct deposit is required and it’s FDIC insured.

For more information on this deal, visit HeartLandBankDirect.com.

Thanks goes out to Ibankdesign for finding this one!

Thanks to Mark for e-mailing me this!

Navy Federal Credit Union is offering a 6 month, 4.00% APY CD.  A $10,000 minimum deposit is required.

From what I’ve found online, this is the best 6 month CD rate on the market.  On the main website, I usually don’t post credit union rates but if a great rate passes me by, I’ll post it here on the blog.

Navy Federal Credit Union has been offering this rate since Oct. 17, 2008 and is subject to change.   This CD is insured by the NCU (National Credit Union Administration) up to $250,000.

For more information, visit NavyFCU.com.

Thanks to an e-mailer who pointed this deal out!

Union Federal Savings Bank is currently offeringa  3.60% APY money market account.  There are no monthly fees and it only requires a $1 minimum to open up an account.

Union Federal Savings Bank is FDIC insured and is headquartered in Rhode Island.  Union Federal Savings has a  4 /5 Bankrate.com safe and sound rating.

Not only is the bank offering a great money market rate, they also have some decent CD rates.  These are the rates as of 12/27/08:

• 3 month:  3.10% APY
• 6 month:  3.20% APY
• 9 month:  3.00% APY
• 1 year:  3.00% APY
• 15 month:  3.00% APY
• 2 year:  3.00% APY
• 30 month:  3.00% APY

All CDs require a minimum deposit of $100.  For more information on these rates and accounts, please visit UnionFSB.com.