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HSBC’s successful Euro Converter Account launched earlier this year has been revamped to include two additional term and interest rate options. This product forms part of the Bank’s strategic preparation for the euro changeover process, and is the only local account which pays interest to customers in advance.
Along with the existing 4.35 per cent interest per annum on the 1-year Maltese Liri (Lm) term account, HSBC’s Euro Converter Account now also offers a 4.45 per cent interest annually on an 18 month term account and a 4.55 per cent interest annually on a 24 month term account.
The interest less 15% withholding tax, for the whole of the applicable term, will be paid immediately to customers upon account opening and credited to a savings or current account of customer’s choice. The account balance will automatically be converted to euro* on the 1 January 2008 and on maturity transferred to a designated savings or current account held in the customer’s name with the Bank. The minimum balance required to open a Euro Converter Account is Lm2000. “HSBC’s Euro Converter Account now offers a wider choice of incentives, with the added value of a unique feature on the Maltese market – that of paying interest to customers with immediate effect,” said HSBC Malta’s Head of Personal Financial Services, Godfrey Swain. “The Bank’s commitment to being ‘’Your Euro Bank’’ means HSBC is keeping up its fast pace of developing and delivering attractive euro denominated products for customers.”
More information about HSBC’s Euro Converter Account can be obtained by calling Customer Service on 2380 2380, by logging onto the Bank’s website www.hsbc.com.mt or from any HSBC Bank Malta p.l.c. Branch.
*In the unlikely event of Malta not adopting the euro as its national currency, the account balance will remain in Maltese Lira (Lm). |
