Free Life Cover and advantageous Interest Rate with the BOV Personal Loans

The Choice is Yours to achieve your Dreams 

Is it time to refurbish your home or garden? Do you wish for a new car or boat? Have you been dreaming of a long-haul trip or maybe a cosmetic procedure?  Whichever dream you choose, Bank of Valletta can help you in financing it into reality with its BOV Personal Loans.  
The BOV Personal loans come with a number of benefits providing fast and flexible solutions to customer needs such as:  

• Free Life Cover for loans up to €25,000
• Amount from €1,000 to €40,000 can be borrowed 
• A variable Interest rate of 4.99%, APRC of 5.182% per annum
• A discounted one time processing fee of 0.15% on loan amount (minimum €25)
• No down payment required, BOV will fully finance the purchase
• Repayments can span up to a maximum period of 8 years (subject to terms and conditions)
• No early repayment fees apply if loan is paid off before the repayment period
• The BOV Personal Loan may be granted without any security 
• The loan account can also be administered and monitored through BOV Internet and Mobile Banking

‘The BOV Personal Loan is a great option to finance the project of your dreams’, said Edward Grech, Chief Officer Consumer Finance. ‘BOV’s offer of a free life cover aims to provide customers with peace of mind. If the unexpected happens and the person taking out the loan passes away before it is fully repaid, the remaining balance (up to €25,000) is automatically settled, freeing dependents from additional financial burdens related to the loan’. Mr Grech explained that life cover is automatically offered to applicants between the ages of 18 and 69 when the eligible loan is sanctioned, without the need for customers to carry any medical underwriting.

To take advantage of these offers, customers can visit any BOV branch, www.bov.com or call the Bank’s Customer Service Centre on (+356) 2131 2020.
A representative example of a BOV personal loan based on a loan amount of €10,000 being made available by BOV at a variable interest rate of 4.99% p.a. (interest margin of 2.54% 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%): Annual Rate of Percentage Charge (APRC) will be 5.182% p.a. and the loan will be repayable in 96 equal monthly installments of €126.58 over a maximum term of eight years. The total sum payable throughout the term of the loan, assuming the variable interest rate remains unchanged, will be €12,176.68 being capital of €10,000 and interest of €2,151.68; togather with a processing fee of €25 that is payable at the initial stage. 

All loans are subject to credit approval by the Bank and a credit agreement.  Security may be requested including mortgage or other comparable security.  Free life cover applies to a maximum of €25,000 per loan, until age 69 or until loan is closed, whichever is the earlier and is applicable if loan will be unsecured or partially secured.  Further terms and conditions (including on free life cover) are available from www.bov.com. Issued by Bank of Valletta p.l.c., 58, Triq San Zakkarija, Il-Belt Valletta VLT 1130.  Bank of Valletta p.l.c. is a public limited company regulated by the MFSA and is licensed to carry out the business of banking in terms of the Banking Act (Cap. 371 of the Laws of Malta).