Bank of Valletta has launched an attractive six-year term deposit account denominated in sterling, offering a guaranteed gross interest of four per cent paid at the end of the first year of the deposit and a 100 per cent guarantee on capital if the deposit is held until maturity.

Mario Pullicino, executive head responsible for wealth management at Bank of Valletta, explained: "The interest rate will be linked to a basket composed of 20 international blue-chip shares, selected for their long-term potential and include names such as Zurich Financial Services, The Allianz Group (Allianz), Bayer AG (Bayer), Intel Corporation, and The Procter & Gamble Company (P&G)."

Deposits into this account can be made at a minimum £2,000 and in multiples of £1,000 thereafter. No maximum limit applies on the annual interest rate from the second to the sixth year. The start date of the product is February 20, reaching maturity on February 23, 2012.

In accordance with current tax legislation, Maltese residents may opt to be taxed at 15 per cent final withholding tax on any interest received. Customers who are not subject to tax in Malta will receive their interest gross.

This is a limited offer which closes on February 17, or earlier at the bank's discretion. Full details are available in the product brochure available at all Bank of Valletta branches or contact BoV's customer service centre on tel: 2131-2020 or visit www.bov.com