HSBC reduces rates by 25 basis points

HSBC Bank Malta announced yesterday that it had decided to pass on the full rate reduction to its borrowing customers, hereupon the recent European Central Bank (ECB) decision to reduce interest rates by 50 basis points.

So the HSBC’s Lending Base Rate will be 2.5% and its Home Loans Base Rate 2.25%. The ordinary savings rate and 7-day and 1-month term deposits are being reduced by 25 basis points as well. There in no any changes to the 3.5% interest rate on the 15-month Advance Bonus Account which is currently on offer.

Online Banking Account Interest will be reduced by 50 basis points for the balances that are under €5,000 and 100 basis points for €5,000 balances and over.