Bank Interest Rates

greenview1

I have noticed that Halifax are offering 5.3% as opposed to 4.5% at HSBC for the same period. Can anyone tell me how the latter expect anyone to invest with them!

Bisoy

If that's the figures that you're getting at, which one will you choose?

humfer

greenview1 wrote:

I have noticed that Halifax are offering 5.3% as opposed to 4.5% at HSBC for the same period. Can anyone tell me how the latter expect anyone to invest with them!

Because sadly HSBC bank on a good proportion of the population who will not look past their own bank for other products. Change apathy is still a big issue in the UK which banks will always continue to exploit

Market_Oracle

greenview1 wrote:

I have noticed that Halifax are offering 5.3% as opposed to 4.5% at HSBC for the same period. Can anyone tell me how the latter expect anyone to invest with them!

Thats why u need to shop around, as the rates available vary even more than the above i.e. from .1% to 6%

SeanW

I stick with my HSBC graduate account for the overdraft, which I have in a high rate savings account, I also use their regular saver, because 8% aint bad, and I will be keeping the current account for at least a year.

After the overdraft drops to £1000, I will switch to another bank, HSBC should be able to afford massive rates, considering they employ few branch staff anymore, their call centres are abroad, and they charge massive rates on their loans and overdrafts.

My ISAs and all my other savings & Investments are with other companies.