HSBC has added a further innovative feature to its personal loan package. Customers may now opt to fix the interest rate for the whole term of the loan, ensuring no future surprises in their monthly repayments.

Fixed interest rate options are applicable to both secured and unsecured loans, denominated in the Maltese lira.

A three-year loan will carry an interest rate of 8.05 %v p.a ; a 5-year loan will attract interest of 8.10% p.a., while interest on a 7-year loan will be marked at 8.15% per annum.

Furthermore, processing and booking fees are reduced for customers who opt for a credit insurance and/or an online application.

“In a scenario where interest rates are under pressure to move upwards, HSBC is offering stability and certainty to borrowers, enabling them to fix interest rates on personal loans. This guarantees consistency for their short-term financial planning. This is yet another innovative feature introduced locally by HSBC, which continues to enhance the bank’s reputation as an innovator in financial services” said HSBC’s Head of Personal Financial Services, Godfrey Swain.