An even more improved headline rate of credit interest, paid up front, is the latest attractive feature of HSBC’s recently-launched Euro Converter Account. Upfront payment of interest is yet another new feature unique to the Maltese market brought to the public by HSBC. The Euro Converter Account is part of the bank’s strategic preparation for the euro changeover process.

The Euro Converter Account is a one-year fixed deposit in Maltese Lira (Lm). Credit interest of 4.1 per cent per annum, less 15 per cent withholding tax, is paid up front to customers upon account opening and credited to an HSBC savings or current account of the customer’s choice. The account balance will automatically be converted to euro on 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.

“Committed to being ‘Your Euro Bank’, HSBC already has several euro-denominated products available, with plans to issue new euro products on the market in the near future,” said HSBC Malta’s Head of Personal Financial Services, Godfrey Swain. “Those customers who would like to immediately reap the interest benefits of their deposit without having to wait for a year should find our Euro Converter Account very attractive,” he added.

More information about HSBC’s Euro Converter Account can be obtained by calling Customer Service on tel.: 2380-2380, by logging onto the bank’s website www.hsbc.com.mt or from any HSBC Bank Malta plc branch. Subject to Malta adopting the euro as its national currency.