Bank of Valletta can help you finance the purchase of photovoltaic systems and solar water heaters through the BOV ECO Loan – Special Scheme.
With a BOV Eco Personal Loan Special Scheme, you can realise your environmental friendly acquisitions. Here is an overview of main features:
Amount borrowed You can borrow any amount from € 1,000 to € 15,000. The BOV Eco Personal Loan may be granted without any down payment required from customer and BOV will fully finance the purchase.
The loan is repayable by monthly installments. The amount, you pay every month is determined by the invoice amount less grant (if applicable) divided by the monthly selected term (up to 36 months). You repay the capital only, since the Loan is exclusive of interest, given that, interest on the loan will be paid by the retailers participating under the scheme.
Therefore the amount you pay every month is determined by the sum you borrow and the selected term. The grant amount pending receipt is short term financed as well.
If you decide to repay the loan before the stipulated term, whether in one lump sum or by increasing your monthly installments, no penalties or additional fees apply.
Repayments generally span up to a maximum period of 3 years.
There are no processing fees and no other hidden fees or extra costs are applied.
The BOV ECO Loan – Special Scheme makes green financing pay by offering you:
An unsecured facility for €1,000 to €15,000 – no down payment required.
In addition, you may benefit from the following:
The BOV Eco Loan – Special Scheme is not subject to a processing fee whilst interest on the loan is paid by retailers participating under this scheme.
Discounted 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.
The Bank, however, reserves the right to charge penalty interest at the standard interest rate for Personal Loans and/or fees to customer if loan is not being repaid in line with the Sanction Letter regulating the loan issued under this scheme. Whilst loans under the scheme are normally issued on unsecured basis, the Bank reserves the right to request collateral if customer’s sole income is from pension, if the term of loan exceeds customer’s age of 65 years or if a secondary source of repayment is warranted.
Direct Credit of Salary or Income to BOV account is required.
All loans are subject to normal bank lending criteria and final approval from your BOV Branch.
Terms & Conditions apply.
To be eligible to apply for a loan under this scheme, purchase of PVs or Solar Water Heaters is to be effected from one of the retailers participating under the BOV ECO Loan – Special Scheme.
Qualifying for the loan
To apply for BOV Eco Personal Loan, we require that:
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. Your proof of identity is always necessary when contacting the Bank.
If you want more details about the BOV Eco Personal Loan kindly contact our customer service center or any one of our branches. Click here to apply online. Alternatively, you may