Bank of Valletta is offering extended loan terms and waiving processing fees on new motor loans taken up to finance new motor vehicles under the car scrappage scheme recently launched by the Ministry of Finance, the Economy and Investment.

Motor loan applications in line with the car scrappage scheme processed up to April 30 will have all processing fees waived while the term of the loan may be extended to a maximum of seven years.

“The new benefits associated with the BoV motor loan aim to complement the car scrappage scheme in reducing the number of old cars on Maltese roads,” said Alan Micallef, head of consumer finance at Bank of Valletta.

“In line with Bank of Valletta’s commitment towards its corporate social responsibility, the bank has drawn up a more attractive BoV motor loan to assist customers to purchase a new, more environment-friendly vehicle.”