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BOV Eco Loan - Special Scheme
Bank of Valletta can help you finance the purchase of photovoltaic systems and solar water heaters through the BOV ECO Loan – Special Scheme.
BOV Eco Loan - Special Scheme

Bank of Valletta can help you finance the purchase of photovoltaic systems and solar water heaters through the BOV ECO Loan – Special Scheme.  

The BOV ECO Loan – Special Scheme provides an affordable, customised solution designed to help you finance the purchase of photovoltaic systems and solar water heaters, whilst safeguarding our environment. You may also be eligible to benefit from a grant amount of up to €2,300 and/or benefit from a preferential PV Feed-in-Tariff.


Overview
Benefits
Terms & Conditions
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With a BOV Eco Personal Loan Special Scheme, you can realise your environmental friendly acquisitions. Here is an overview of main features:

  • Free Life Cover
  • Amount from €1,000 to €15,000 can be borrowed. No contribution, BOV will fully finance the purchase
  • Repayments can span up to a maximum period of 3 years (subject to terms and conditions) through 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 …..
  • No Interest – Loan is exclusive of interest, given that, interest on the loan will be paid by the retailers participating under the scheme
  • Nil processing fees
  • 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 through monthly installments.


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.

 

Repayment Terms

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.

 

Term Duration

Repayments generally span up to a maximum period of 3 years.  


Processing Fees

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.

  • Interest due on the loan is settled in full by the retailers participating under this scheme, therefore the financing costs are not borne at your end,
  • Free Life Cover for the loan balance for all account holders
  • No processing fees
  • Repayment period of up to 3 years 
  • Full finance
  •  Loan may be granted on unsecured basis
  • Fast processing of your application
  • The Feed-In-Tariff will partly offset the loan repayment and your energy bills. 
  • Once the loan is fully repaid, the relative cost savings or feed in tariffs will be of 100% benefit against your energy consumption bills.  
  •  

In addition, you may benefit from the following:

  • pay off the loan at any time, without incurring any early repayment fee
  • administer and monitor your account by means of our BOV 24X7 Services and
  • direct credit of salary/pension to your BOV account.  

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.

 

 

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Qualifying for the loan

To apply for BOV Eco Personal Loan, we require that:

  • you are over 18 years of age 
  • 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.

Your proof of identity is always necessary when contacting the Bank. 

  

Interested?


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

  • call our Customer Service Centre on 356 2131 2020 
  • send us an e-mail at [email protected]
  • click on the ‘Get in Touch’ icon on the right hand corner and submit your query and contact details. We shall contact you as soon as possible 
  • visit the BOV Branch of your choice.

 

 

 

 

Download >
Personal Loans Life Cover
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BOV ECO Loan - Special Scheme Participating Retailers
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BOV Eco Personal Loan Special Scheme Prod Info Guide
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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 and investment services in terms of the Banking Act (Cap. 371 of the Laws of Malta) and the Investment Services Act (Cap.370. of the Laws of Malta).