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 that pays interest to customers in advance.

Along with the existing 4.35 per cent interest per annum on the one-year Maltese lira (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 per cent withholding tax, for the whole of the applicable term, will be paid immediately to customers on account opening and credited to a savings or current account of 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.

More information about HSBC’s Euro Converter Account can be obtained by calling Customer Service on 2380 2380, by logging on to the bank’s website www.hsbc.com.mt or from any HSBC Bank Malta branch.