HSBC "FuturePerfect" aims to promote savings habit

The plan enables Status account holders to improve their saving behavior and returns through a structured and user-friendly program.

The biggest advantage of this plan is flexibility.

The participants have the ability to choose their savings options to suit their individual financial goals and needs.

The plan helps the bank's customers' put aside money for expensive future financial commitments such as children's education, marriage, buying a house or retirement income.

Venkatesh Srikantan, Regional Head of Assets and Liability said, "HSBC is committed to promoting the long term savings habit and this is but a first step in launching products and services that enable HSBC customers to save money in a flexible manner. With FuturePerfect customers can gain more control over their savings and this should help them plan better for future financial commitments."

Keeping in mind the expatriate workforce where people find it difficult to commit for long term the plan's flexibility enables customers to switch their holdings between funds up to 25 times per year without any charge.

Participants can also make regular withdrawals and contribution breaks if the need arises without incurring financial penalties.

The plan requires a minimum monthly contribution of $1,000 or a lump sum investment of a minimum of $60,000.

Ishrat Kiyani, Regional Head of Wealth Management added, "In today's environment where interest rates are at an all time low, HSBC understands that our customers want their money to work for them.

FuturePerfect is an ideal choice in that it is cost effective, offers potential for good growth and is flexible enough to change as our customer's circumstances change."

FuturePerfect is being offered in partnership with Zurich International Life which is one of the prominent providers in the region.

The HSBC Status current account is available in multiple currencies (UAE Dirham, US Dollars, Euro and Pound Sterling).

Account holders have the privilege of banking within exclusive areas at HSBC branches and enjoy benefits like pre-approved overdraft facilities and vehicle finance, free credit cards and preferential pricing on personal loans.