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HSBC Bank Malta p.l.c. has launched a new version of its capital protected Equity Linked Deposit (ELD) with two new major features. The new ELD is designed to benefit savers who are being negatively affected by the current low interest rates. This new version of the Equity Linked Deposit (ELD) is a term deposit account available in both Malta Liri and US Dollars.
The ELD is a five year term deposit split in two periods of three years and two years respectively, which requires a minimum deposit of either Lm2,000 or USD2,000. At the end of the first three year period, customers who choose to hold their deposit in Malta Liri, will receive half their original capital back together with gross guaranteed interest at 14 per cent. This return which will be paid on 6 January 2009, represents a gross guaranteed minimum return of 1.75 per cent over 5 years on the average balance.
The remaining balance will be tied till the end of the 5-year term, at the end of which the remaining balance will be paid back together with a return which will reflect a 35 per cent participation in any growth of the Dow Jones Eurostoxx 50 Index.
Those investors who choose to hold their Equity Linked Deposit in US Dollars will receive half their original capital plus a gross guaranteed interest of 15 per cent on that half after three years. This represents a gross guaranteed minimum return of 1.88 per cent over 5 years on the average balance. The remaining balance will be tied till the end of the 5-year term. At the end of the term, on 6 January 2011, the remaining balance will be paid back plus a rate of return which will reflect a 50 per cent participation in any growth of the Standard & Poor 500 Index.
Godfrey Swain, Head of Marketing and Communication at HSBC, said: “This is an excellent opportunity for those savers who, in the current low interest rate scenario, are looking for better returns. HSBC’s ELD Account offers complete capital security and attractive guaranteed interest during the first three years on half the capital originally deposited. Depositors also have a chance to better this income through a participation of the growth in the respective indices.”
For more detailed information HSBC can be contacted on 2380 2380. Information is also available from every HSBC branch in Malta and Gozo, and on the website www.hsbc.com.mt
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