If I open a savings w/ HSBC Direct how much will I make?
Lets say I put $100.00 in one of there savings accounts.
And then say I never make a deposit or withdrawl. How much would I have after?
Is the intrest paid monthly or annually?
Is it worth it?
Good question.
It all depends on the interest rate that they offer. it usually fluctuates with the prime rate. therefore the interest rate should be bw 3-5%.
is it worth it? for the amount of money you are investing yes.
if you had more money i would say no because you can get a higher return in other types of investments such as the stock market. however, at 15 – 30$ a trade it would not be benificial.
With respect to interest, in comparison to other saving accounts the interest is compounded annually and paid out monthly.
an example of your growth or ROI (return on inv):
after a full year on a 100$ @ 5% = $105.00= 5.00 INTEREST
after 2 years = $110.25= 10.25 INTEREST
after 3 years = $115.76 = 15.76 INTEREST