Bank of Valletta launches new edition of Fidda account

Bank of Valletta has launched another edition of the BoV Fidda account, a six-year term deposit offering access to diverse global markets with guaranteed capital and income.

The Fidda account is a structured deposit account denominated in euro, US dollars or sterling.

The account is 100 per cent capital guaranteed, offering attractive step-up interest rates on half of the deposit, if held until maturity, plus a potential bonus interest on the remaining half of the deposit, linked to the performance of three major stock-market indices and pay­able on maturity.

“This fourth edition of the BoV Fidda account offers an attractive investment opportunity with full capital guarantee, an attractive interest rate and potential growth in markets worldwide,” said Charles Borg, chief officer financial markets and investments at Bank of Valletta.

Financial planning services and further information on this product are available from the bank’s financial advisors at Bank of Valletta branches, who have received specific training on the features of the new account, continued Mr Borg.

The account is available to the public as from tomorrow, and the offer will close on December 16, or earlier at the bank’s discretion.

Further information can be obtained from either Bank of ­Valletta’s website www.bov.com or by calling the bank’s customer service centre on 2131 2020.

The BoV Fidda account is regulated as a deposit in terms of the Banking Act.

Depositors in the account should note that under the terms of the Depositor Compensation Scheme Regulations, the US dollar does not fall within the scope of a ‘designated currency’ of any state within the European Economic Area, and therefore such deposits are excluded from the scheme.

Accordingly, US dollar deposits in the BoV Fidda account are not protected under the Depositor Compensation Scheme Regulations.