BOV announces special offer on Personal Loans

Bank of Valletta has announced that it is launching a special offer on its suite of Personal Loans with immediate effect. All unsecured and partly secured personal loans are now available at an interest rate of 4.99%, whilst secured personal loans are being offered at an interest rate of 4.2%. This offer remains valid until the 30th June 2018.

Speaking about the special offer, Edward Grech, Chief Officer Consumer Finance said that it is intended to further assist customers seeking to finance their personal projects, be it the acquisition of a new car, purchase of furniture or renovation project in the house or purchase of a boat, to mention a few.

Mr. Grech also spoke about the free life cover that is being offered by the Bank with all personal loans. “A number of claims under the Group Life Policy have already been effected since its launch. The free life cover offers the client peace of mind. In case the unexpected happens and one passes away before all repayments are made, the loan is automatically settled through a claim under the Group Life Policy, thereby saving surviving dependents from financial burdens.” Mr Grech explained that the life cover is automatically offered when the loan is sanctioned, without the need for the customer to ask for it and without the need for customer to carry any medical underwriting. The life cover is available to all individual customers taking up financing in their sole name or jointly with other third parties. It applies for loan balances up to EUR25,000, where the applicant is between the age of 18 and 69.

This benefit, which was introduced two years ago, is linked to any unsecured and partly-secured loan products offered under the suite of BOV Personal Loans.  “At Bank of Valletta, we are passionate about the customer service we deliver. For us, the focus is on the long-term working relationship built with every one of our clients throughout his or her life. This was the basis on which we decided to link the free life cover to the BOV Personal Loan. We truly believe that this offers added value to our clients, and clients’ feedback in this regard corroborates our thinking.

With this offer, Bank of Valletta is giving its customers two important benefits – a highly competitive interest rate and a free life cover.