BOV lowers interest rates
The Bank of Valletta is lowering its savings accounts interest rates by 0.25 per cent resulting in an effective interest rate of one per cent per annum with effect from next Friday, the BOV said.
Interest rates on all other deposit accounts denominated in euro will also be revised downwards.
The bank said the mortgages base rate will be reduced by 0.50 per cent per annum to 3.25 per cent while the base rate for commercial loans, overdrafts, personal loans and credit card accounts is being reduced to 3.45 per cent.
The changes in the interest rates follows the decision taken by the European Central Bank to lower its refinancing rate by 50 basis points.
Further details may be obtained from any of the bank's branches, from www.bov.com or from Customer Service Centre on 2131 2020.
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B. Demanuele
Nov 12th 2008, 23:20
i'm very glad i am not one of these rich investors or savers in any Bank, i would be a nervous
wreck by now i'm like St Francis of Assis i make do with what i got and be happy as oppose to dog eat dog in this mdern times of Banking and shares sinking further in unknown depts. People at the top got something to worry about thank god i am not one of them.Regards to all the people in Malta and Gozo wish you all the very best.
K Azzopardi
Nov 12th 2008, 22:29
@ Harris
More Interest = More Risk!
Many British had the same brilliant idea, they moved their savings to an Icelandic Banks which are now bankrupt.
Ch. Harris
Nov 12th 2008, 14:39
This is one reason why i with drew all my savings from a Maltese bank and invested in Banks overseas where i know for a fact i get more interest .