HSBC Bank Canada has launched a high rate savings account. With an interest rate of 3.1% for balances up to $1 million starting on the first day and with the first dollar, the account offers a higher rate than the large domestic banks and ING in Canada.

Lindsay Gordon, President and Chief Executive Officer, HSBC Bank Canada said:

Individuals may open an account online at hsbc.ca or through our branch network or telephone banking effective immediately. Transfers to and from HSBC Bank Canada chequing accounts in the same accountholder profile are free.

The high rate savings account also allows transfers to and from other Canadian financial institutions through personal Internet banking for added convenience and flexibility.

http://www.newswire.ca/en/releases/archive/May2006/15/c6273.html