HSBC raises interest rates

HSBC Bank Malta plc said yesterday that following the decision by the Central Bank to increase the central intervention rate by 25 basis points, the bank decided to raise its own base rate by 25 basis points to 4.25 per cent. With effect from tomorrow,...

HSBC Bank Malta plc said yesterday that following the decision by the Central Bank to increase the central intervention rate by 25 basis points, the bank decided to raise its own base rate by 25 basis points to 4.25 per cent.

With effect from tomorrow, the bank's interest rates on loans and advances linked to the base rate will automatically be increased by 0.25 per cent. The bank has also revised the debit interest rates on credit card lending and credit interest rates on Maltese lira fixed deposits and savings accounts.

A schedule of the interest payable on all products can be found at www.hsbc.com.mt. Relevant details can also be obtained from all HSBC branches.

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