With the federal funds rate being slashed to 3.5%, I've been worried about the interest rate of my HSBC Online Savings dropping significantly. I know that I have zero control over the APY but every penny I earn counts. The blog world has been mumbling all day about ING's rate drop (now 3.65% APY), so I prepared myself for the worse.
A quick google of the phrase: "hbsc savings rate" returned a wonderful headline claiming HSBC had raised their rates. This made absolutely no sense but I was still overcome by exhilaration. Then the article finally loaded....
A few hours have passed and I have yet to recover from the soul crushing. Thanks Google!
Note: HSBC still shows a 4.25% APY.
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