HSBC Direct offers three standard CD terms of six months, and one and two years, providing options for savers with shorter-term goals. Savers with long-term goals will have to look elsewhere.
All three CDs pay a decent APY, but some other online banks offer higher yields. HSBC Direct CDs require only $1,000 to open. The bank doesn’t offer any specialty CDs, such as a bump-up or no-penalty CDs.