HSBC is offering a special loan for the purchase of BMWs used by the heads of government during the Commonwealth summit held in Malta last week.

The cars will be auctioned at the Westin Dragonara Resort, St Julians tomorrow and on Sunday. Proceeds will go towards the annual fund raising event L-Istrina.

The bank will give a one per cent discount on its normal applicable interest rate for the first two years. The loan is repayable over six years and can amount to as much as 90 per cent of the total costs involved in purchasing one of the vehicles, including VAT and other ancillary costs.

"Through this special offer HSBC is helping customers who would like to purchase one of these cars and, more importantly, helping L-Istrina to raise as much money as possible from this auction," HSBC's head of personal financial services, John B. Hackett, said.

Customers may also apply for an HSBC Maxicredit loan in order to participate in this auction. The normal conditions will apply on these loans which, however, can be repaid over a maximum of 10 years.

For more information call HSBC on 2380 2380 or visit www.hsbc.com.mt