HSBC Direct Drops to 1.20% APY

While I was getting the feeling that market has started to do better and jobs are opening up, HSBC's Online Savings Account dropped its APY to 1.20%. While I prefer Ally these days for my savings funds but I keep a sufficient amount in HSBC for quick and flexible access which is not available with Ally. Let's hope the continued sinking stops sometime soon.

One Free Grand Slam at Denny's Today

Denny's is doing it again!

Yes, you can get a free Original Grand Slam at Denny's from 9AM to 2PM today. It's my favorite, so if you have never tried it before, today is the day. Select four of your favorite items from a list of ten exciting breakfast items.

Ally Introduces High Yield CD

After introducing the concept of No Penalty CD, Ally Bank has recently introduced High Yield CD. Also widely being recognized as Bump-Up CD, this product offers one of the top CD rates in the market today.

So what is Ally's High Yield CD: If you have some savings left to be invested into a 2 year CD then this may be a good place to consider. It is a 24 month CD featuring 2.10% APY, and Ally allows you, once, to call them and request for a new higher rate (bump-up) if you notice a better rate during the term of your CD for the remaining term.

Let me put this in simple words: Suppose I open Ally's 2 years High Yield CD today at 2.10% APY. Now suppose Ally bumps up the APY for this product to 2.50% after 1 year, then I may call Ally and request them to apply this new higher rate to my CD funds for the remaining term that is, for this example, 1 year.

Like Ally's most other products, this CD comes with no fees, no minimum deposit amount, FDIC insured, etc. The 2.10% APY is pretty high already and considering the market improving day by day, I believe, the APY will definite increase a lot by 2012 thus making this product a bright option.