HSBC Direct is offering a twelve months CD yield of 2.30%. The yield is higher than HSBC direct’s online savings account which currently has a yield of only 1.65%.

There is a penalty for an early withdrawal of 30 days simple interest (Interest paid only on the original principal, not on the interest accrued).

HSBC Direct is also offering the following certificate of deposit yields:

• 6 months CD – 1.25% APY
• 9 months CD – 2.05% APY
• 18 months CD – 2.35% APY
• 24 months CD – 2.05% APY
• 30 months CD – 2.05% APY
• 36 months CD – 2.05% APY
• 48 months CD – 2.35% APY

These yields are current as of April 1st, 2009. Check HSBC Direct’s website for more current rates.