Expired Hot Deals

[HSBC] HSBC High Rate Savings of 2.05% to 2.6% - on new deposits only Dec.9/19-Feb.27/20

  • Last Updated:
  • Dec 11th, 2019 10:56 pm
[OP]
Sr. Member
Jun 26, 2010
733 posts
444 upvotes
Vancouver

[HSBC] HSBC High Rate Savings of 2.05% to 2.6% - on new deposits only Dec.9/19-Feb.27/20

Deal Link:
Expiry:
February 27, 2020
Retailer:
HSBC
More offers from HSBC
I'll start by prefacing that this deal isn't for everyone, me included, since I already had money sitting in my HSBC HRSA (high rate savings account) as of the close of Dec.6.
I read through the T&C to check my own qualifications and they're making it tougher to qualify. But if you do qualify, it's pretty good for one of the big banks.

To summarize the T&C:
1. The promo rate of 2.6% is only on new deposits after the close of business day on Dec.6. So if you had a balance in your account on Dec.6th, this balance will not qualify.
2. Withdrawals out of your accounts on and after Dec.9 will be netted against the balance that qualifies for the promo interest rate of 2.6%.
3. I used 'accounts' in general, because now HSBC is including the balance in your chequing account, not only the HRSA, to calculate the net balance that qualifies for the promo rate. For example, if you deposited $5k into your HRSA during the promo period, and then subsequently withdrew $1k from your chequing account during the promo period, the balance that would qualify for the promo rate is $4k. This is the part that's different from other/prior similar promotions.
4. TFSA HRSA is not included in the promo.
5. Interest is paid monthly.

Here's a link to the T&C:
https://www.hsbc.ca/content/dam/hsbc/ca ... rms-en.pdf
Last edited by shabbydog on Dec 11th, 2019 10:56 pm, edited 1 time in total.
5 replies
Deal Guru
User avatar
May 7, 2007
12761 posts
5146 upvotes
In any case ... more than Tangerine gives you nowadays ...

Tangerine became pathetic.
[OP]
Sr. Member
Jun 26, 2010
733 posts
444 upvotes
Vancouver
Darkman wrote: In any case ... more than Tangerine gives you nowadays ...

Tangerine became pathetic.
Tangerine will come around again. They all do.
Deal Guru
User avatar
May 7, 2007
12761 posts
5146 upvotes
shabbydog wrote: Tangerine will come around again. They all do.
Well ... if they want people with more serious money to come back ... - they better!
Member
Apr 2, 2011
362 posts
213 upvotes
Montreal
Careful guys. 2.05% from 1-24999.99. You only get 2.6% for full balance if you have at least 25k.
[OP]
Sr. Member
Jun 26, 2010
733 posts
444 upvotes
Vancouver
Guyman wrote: Careful guys. 2.05% from 1-24999.99. You only get 2.6% for full balance if you have at least 25k.
Thanks, missed that. Edited the subject. Warmish deal now lol.

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