Through the BOV ECO Personal Loan you can benefit from very advantageous terms to help you finance
environment-friendly products and services.
Benefits under this product also apply when financing the purchase of motorcycles and eco-friendly motor vehicles, including all types of hybrid cars and motor vehicles that have low CO2 emissions.
With a BOV Eco Personal Loan, you can realise your environmental friendly acquisitions. Here is an overview of main features:
The BOV ECO Personal Loan may be availed to finance the purchase of:
Representative Example No. 1
A representative example of a BOV ECO Personal Loan based on a loan amount of €10,000 being made available by BOV at a variable interest rate of 3.25% p.a. over a term of 10 years.
A representative example of a BOV ECO Personal Loan based on a loan amount of €20,000 being made available by BOV at a variable interest rate of 3.25% p.a. over a term of 15 years.
total sum payable throughout the term of the loan will be €25,374.60 consisting
of €20,000 capital and of €5,374.60 interest, assuming the variable interest
rate remains unchanged. No
processing fees apply.
You can borrow any amount from €500
to €70,000. The BOV ECO Personal Loan may be granted without any upfront
contribution required from customer and BOV will fully finance the purchase. The maximum loan amount that you can borrow
depends on your level of income and other commitments held. The loan amount
being borrowed and loan purpose will also determine the term of the loan.
The loan is repayable by monthly
The amount you pay every month is determined by the sum you borrow, the loan term and the applicable rate of interest.
If you decide to repay the loan before the stipulated term, whether in one lump sum or by increasing your monthly instalments, no early repayment fees apply.
Repayments may span up to a maximum
period of 15 years, depending on the loan amount and loan purpose. For loan amounts less than €10,000 the maximum loan term cannot exceed 10 years.
There are no processing fees, no early repayment
fees and no other hidden fees or extra costs are applied.
A BOV ECO Personal Loan means all this:
Apply now and you’ll benefit from:
Loan Repayment Eco Personal Loans are repayable by monthly instalments. The amount you pay every month is to be in line with your income and is determined by:
If you decide to repay the loan before the stipulated term, whether in one lump sum or by increasing your monthly instalments, no penalties or additional fees apply.
Repayments may span up to a maximum period of 15 years provided that the term of the loan:
For loan amounts less than €10,000 the maximum loan term cannot exceed 10 years.
Other Terms & Conditions
Loans are subject to normal Bank lending criteria and final approval from your BOV Branch.
Direct Credit of Salary or Income to BOV account is required.
Interest rates and/or special conditions offered by the Bank under this product are always subject to the account being operated properly and the repayments effected regularly as agreed. Terms and conditions apply.
The Consumer Lending Bank Base Rate (CLBBR) is 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.
Qualifying for the loan
To apply for BOV Eco Personal Loan, we require that:
you are over 18 years of age and
you are in regular full-time employment.
We shall ask you to provide us with formal confirmation of income and expenditure. As evidence of income, it will be useful to have your recent payslips together with your FS3s or Profit & Loss Accounts together with the Inland Revenue income and self-assessment form submitted to the Inland Revenue.You are also to provide us with a quotation/ invoice of the asset or service being financed.
Your proof of identity is always necessary when contacting the Bank
Interested?Set an appointment here.
All loans are subject to normal bank lending criteria and final approval from the Bank. The term of the loan must not go beyond retirement age. 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).
Issued by Bank of Valletta p.l.c., 58, Triq San Żakkarija, Il-Belt Valletta VLT 1130