Going green by purchasing environment-friendly goods such as electric or hybrid cars, motorcycles, white goods that save on electricity consumption, home energy management systems including double glazing and thermal insulation, PV panels and solar water heaters can leave a hole in our pockets. Choosing the right type of loan can ease the impact on finances and facilitate greener purchases.
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The BOV Eco Personal Loan was designed to assist customers be more environmentally conscious, providing them with easier access and increased affordability of green goods. Benefits include: free life cover forloans up to €25,000; borrowing amount from €500 to €40,000; a variable interest rate of 4.85 per cent, APRC of 5.03 per cent per annum; no processing fees; no down payment required, BOV will finance the purchase in full; repayments up to a maximum period of 10 years; no early repayment fees apply if loan is paid off before the repayment period; the BOV Eco Personal Loan may be granted without any security; and can also be administered and monitored through BOV internet and mobile banking.
Customers choosing to safeguard the environment while taking advantage of great offers, are invited to visit any BOV branch, www.bov.com or contact the bank’s customer service centre on (+356) 2131 2020 or customerservicecentre@bov.com.
A representative example of a BOV Eco Personal Loan based on a loan amount of €15,000 being made available by BOV at a variable interest rate of 4.85 per cent per annum (interest margin of 2.40 per cent plus consumer lending bank base rate – the basis, established by the bank from time to time, on which the rate of interest payable generally on all bank consumer lending is determined – of 2.45 per cent), APRC will be 5.03 per cent per annum and the loan will be repayable in 96 equal monthly instalments of €189.31 over a term of eight years. The total sum payable throughout the term of the loan, assuming the variable interest rate remains unchanged, will be €18,173.76 being capital of €15,000 and interest of €3,173.76; and no processing fees.