Bank of Valletta has launched the ‘Fidda’ account, a six-year term deposit offering access to diverse markets globally with guaranteed capital and income.

The product is a structured deposit account denominated in euro, US dollar and sterling. It is 100 per cent capital guaranteed, with attractive step-up interest rates on half of the deposit, and a potential bonus interest of 24 per cent on the remaining half of the deposit linked to the performance of four international stock market indices payable onmaturity.

Depositors are being offered the opportunity to earn an annual and increasing income during the entire term of the deposit and also benefit from the potential growth in geographically diverse markets – the eurozone, the UK, Canada and Australia – with the full capital guarantee at maturity.

Interest rates range between four per cent and 5.25 per cent for euro, 3.5 per cent and 4.75 per cent for US dollar, and 3.75 per cent and five per cent for sterling. Minimum deposits in each currency are of €2,000, $2,000 and £2,000 and multiples of 100 for each currency.

The account is available from tomorrow. The offer closes on February 4 or earlier at the bank’s discretion. It matures on February 7, 2017.

Information is available from Bank of Valletta’s website at www.bov.com or from the Customer Service Centre (tel. 2131 2020).