HSBC Bank Malta plc has announced an increase in it euro base rate to 3.35 per cent. This follows the decision by the European Central Bank (ECB) to increase its rate by 0.25 per cent.

This new rate, effective immediately, applies on all personal lending and commercial lending linked to the bank’s euro base rate.

HSBC’s euro base rate is consistently 0.10 per cent over the European Central Bank reference rate and provides a stable base rate compared to the alternative market rate of three- or six-month Euribor, which fluctuates on a daily basis and is currently 22 basis points and 35 basis points respectively over the ECB rate.

More information is available from any HSBC Bank Malta branch in Malta and Gozo or by calling HSBC Customer Service on 2380-2380.