Lower interest rates from Bank of Valletta home improvements finance

Homeowners seeking to upgrade or refurbish their homes may now take out a loan at advantageous interest rates from Bank of Valletta.

Customers can use the loan to finance a number of projects ranging from regular maintenance such as decorating and plastering, to upgrades such as the purchase of a new kitchen, a fireplace, or the installation of other eco-friendly measures.

The Home Improvement Loan has an interest rate of one per cent over the bank’s Home Loans base rate, and low processing fees.

“The Home Improvement Loan offers one of the lowest interest rates in our portfolio as we believe that it is important for people to be able to invest continuously in one of their most valuable assets: their property,” said Edward Grech, executive head consumer finance.

“Although the bank has had other loans which could be used for refurbishment and maintenance works, this is the first time that we have designed a specific product which caters for the customers’ requirements.”

The amount that can be borrowed under this product ranges from €10,000 to €200,000 with a maximum repayment period of 25 years.

Information is available in branches, at www.bov.com or on 2131 2020.