Bank of Valletta is launching a five-year euro step-up term deposit account offering an interest rate that increases each year over the duration of the account.
Account holders taking out this deposit will benefit from an initial interest rate of 2.6 per cent in the first year.
In year two, interest will be stepped up to 2.7 per cent, year three to 2.9 per cent, year four interest paid will be 3.2 per cent and increasing to 3.6 per cent in the fifth and final year.
Interest on this account is payable annually. The minimum deposit amount for this account is of €1,000.
This is the second time this year that Bank of Valletta is placing on the market an attractive special offer featuring a term deposit account with a strong headline rate.
“In the current scenario where rates of interest on deposit accounts are historically low, this new term deposit account addresses customers’ need for a higher return on their savings while offering regular income,” said BOV Chief Officer for Financial Markets & Investments, Romeo Cutajar.
“As the brand of choice for customers’ deposits, Bank of Valletta has built a reputation of offering attractive deposit opportunities and over the past years, we were regularly present in the market through the launch of a number of attractive deposit opportunities, all of which were extremely well received by the general public.
“We are confident that, as has been the case in the past, the market will respond positively to this attractive offer that we are making available,” concluded Mr Cutajar.
Full details may be obtained from any Bank of Valletta branch, by visiting www.bov.com or by calling the BOV Customer Service Centre on 2131 2020. This is a limited offer that is available from today until November 30 or may be closed earlier at the bank’s discretion.
Bank of Valletta is a leading financial services provider in Malta and is licensed by the Malta Financial Services Authority to provide a full range of financial services, including private banking, fund management, bancassurance, stockbroking and trustee services.
The Bank serves its clients via a national network of 41 branches, a corporate centre, five business centres and a Wealth Management arm.