New Products

HSBC Launches New Savings Product in Middle East

Stephen Harris 17 October 2007

HSBC Launches New Savings Product in Middle East

HSBC Wealth Management has teamed up with Isle of Man-based Zurich International Life to launch a new savings planning service for HSBC customers called HSBC-Zurich Vista. It is available through all HSBC branches in the United Arab Emirates. HSBC-Zurich Vista is designed to provide a flexible, multi-currency and tax efficient savings facility to HSBC customers no matter which country they are based in, or move to, because the policy stays based in the Isle of Man. Customers can invest in the Regular Premium Vista Plan from $300 per month or have the option of paying a single premium. HSBC-Zurich Vista permits customers to choose to invest in a range of funds which are balanced, adventurous or cautious. Customers also have the option to switch between funds at any point in time. Funds in a Vista savings plan are not taxed at source, permitting savings to grow in a tax efficient environment and customers can save in a range of currencies, including US dollars, pounds sterling or euros. Ishrat Kiyani, regional head of Wealth Management for HSBC Bank Middle East, said: "To enhance our product range further, we have tied up with Zurich International Life Limited to provide the best possible regular savings plan to our customers in terms of fund selection and price."

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