28 September - 4 October 2000

HSBC launches new services for youths, students and graduates

HSBC Bank Malta plc has launched three new services which have been specifically developed for youths, students and graduates. These services are designed to assist youths and students manage their finances and help graduates set up their own business.

These services were launched by HSBC's chief operating officer, Jeremy Hunt during a press conference which was held on Monday at World Sports Cafe, in St Julian's.

"HSBC is wholly committed to the development of Students, Youths and Graduates by providing banking and financial services to meet their essential needs," said Mr Hunt.

HSBC's Youth Services caters for all youths aged between 13 to 26 years and students up to the age of 18. Through this scheme, youths benefit from higher savings and current account interest rates and lower interest rates on loans and overdrafts. All the customers will be exempted from Bank charges applicable on foreign exchange, local drafts and standing orders.

The HSBC Student Services package is designed to cater for full-time University and other Tertiary Institution students. Student Services customers will also benefit from higher credit interest rates on their savings or current accounts and can also avail themselves of an interest free overdraft starting from Lm450 for first-year students and increasing annually up to a maximum of Lm1,000 for final year students together with discounted interest rates for HSBC's Flexicredit. Student Services customers also benefit from fee free HSBC credit cards and other banking services.

All HSBC customers enrolled in either the Youth Services or the Students

Services scheme can take advantage of low cost medical insurance through membership of BUPA Malta Localcare Scheme. Through this scheme, the customers will benefit from medical insurance at highly subsidised rates.

An innovative addition to HSBC's products and services is Graduate Service scheme designed to help launch graduate students into business. The main feature of the Graduate Services Package is the Business Start Up facility enabling graduates to obtain a loan of Lm15,000 and an overdraft facility of Lm5,000 at very competitive interest rates with a moratorium of two years to set up their own business

HSBC is also offering graduates the chance to broaden their knowledge with post-graduate courses both locally and abroad with a loan of up to maximum Lm8,000. This loan carries reduced interest rates and the possibility to opt for a two-year moratorium on repayments.