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BOV Personal Loan
The BOV Personal Loan provides affordable, customised solutions designed to satisfy your finance requirements to purchase a wide variety of goods and services, from home and garden furnishings and improvements, small boats, antiques and collectibles, to travel, cosmetic surgery and other one-off personal requirements - offering the best shape to suit your needs.
BOV Personal Loan

 The BOV Personal Loan provides best values and affordable, customised solutions designed to satisfy your financing requirements to purchase home and garden furnishings, small boats, antiques and collectibles, plus finance costs relating to home improvements, travel, cosmetics procedues and other one-off personal requirements. 


A BOV Personal Loan is all you need to accomplish your dreams.

Overview
Benefits
Terms & Conditions
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Apply Now

 

With a BOV Personal Loan, you can fulfil your dreams and your personal requirements. Shaped to suit your needs, the BOV Personal Loan provides affordable, customised solutions, designed to satisfy your purchasing requirements. Discuss with us so that we can assist you in selecting the best financing option. The BOV Personal Loan has the following features:

 

  • Free Life Cover for loan balances up to €25,000
  • Amount from €1,000 to €40,000 can be borrowed. 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)
  • A discounted variable Interest rate of 4.99%, APRC of 5.182% per annum*
  • A discounted one time processing fee of 0.15% on loan amount (min €25)
  • No early repayment fees apply if loan is paid off before the repayment period
  • The BOV Personal Loan may be granted without any security

  

Representative Example

 

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%), APRC will be 5.25% p.a.* and the loan will be repayable in 96 equal monthly instalments of €126.88 over a term of eight years.
The total sum payable throughout the term of the loan, assuming the variable interest rate remains unchanged, will be €12,205.48 being capital of €10,000 and interest of €2,180.48; together with a processing fee of €25 that is payable at the initial stage

 

 

Amount borrowed

You can borrow any amount from €1,000 to €40,000. The BOV 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 instalments.

The amount you pay every month is determined by the sum you borrow, the selected 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 penalties or additional fees apply.

  

 Term Duration

Repayments generally span up to a maximum period of 7 years. For loans amounts of €10,000 or over, the maximum term may be extended up to 8 years. 


Processing Fees

There is a one-time processing fee, presently discounted, of 0.15% (min €25).  No other hidden fees or extra costs are applied.

A BOV Personal Loan means all this:

  • a fast and flexible solution to obtain financing for your furnishings, leisure and other acquisitions for your immediate enjoyment;
  • an unsecured loan of up to €40,000 or a secured loan that would enable you to benefit from discounted interest rates and fees plus benefit from easy monthly repayment terms;
  • full finance for your acquisition; 
  • you may pay off the loan at any time with no early repayment fee; 
  • administer and monitor your account by means of BOV 24X7 Services

 

Apply now and you’ll benefit from:

 

    Loan Repayment

    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:

    • the sum you borrow,
    • the selected 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 penalties or additional fees apply.

    Repayments generally span up to a maximum period of 7 years. For loans amounts of €10,000 or over, the maximum term may be extended up to 8 years, provided that the term of loan:

    • is in line with the purpose of the loan; 
    • does not go beyond borrower's retirement age; and
    •  does not exceed the expected life of the asset being financed.

     

    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.

    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. 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.

    Click here for the current Consumer Lending Bank Base Rate.
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    Qualifying for the loan

    To apply for BOV 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 Personal Loan, 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.

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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).