BOV LOANS

Invest in your future career

Get on the path towards a rewarding career with the BOV Studies Plus+ Student Loan (StudentAssist Scheme). For students and professionals seeking to further their studies in Malta or abroad.

<em>Borrow up to €100,000</em> to fund your studies, with no down payment

Borrow up to €100,000 to fund your studies, with no down payment

Get the loan you need to fund your studies in full-time, part-time, or distance learning, in Malta or abroad, all with no down payment.

Make repayment easy with an interest rate <em>subsidy for up to the first 5 years</em>

Make repayment easy with an interest rate subsidy for up to the first 5 years

Enjoy simpler repayment terms and benefit from an interest subsidy for up to the first 5 years of your loan term. After this period, benefit from a reduced variable interest rate of 2.95%.

Spread your costs over a <em>15-year loan term</em>

Spread your costs over a 15-year loan term

Spread your loan term up to 15 years, with no repayment needed in the first 5 years, so you can manage your loan stress-free.

Loan details

What does this loan include?

Discover the details and benefits of the BOV Studies Plus+ Student Loan (StudentAssist)

Obtain a maximum loan of €100,000

Maximum loan term of 15 years

Reduced annual interest rate of 2.95%

No upfront contribution required

Details

Feature	Details
Loan	Maximum: €100,000
Interest rate	2.95% p.a. - interest margin of 0.50% over and above a consumer lending bank base rate (CLBBR) of 2.45%
Upfront contribution	Nil
Loan repayment term	A maximum term of 15 years, which includes a maximum moratorium period of 5 years, and a maximum repayment period of 10 years. The loan repayment term depends on the loan amount and the duration of your course.
Processing fee	Nil
Benefits	A moratorium period during which no capital or interest is paid from your end (the interest is fully subsidised by the Malta Development Bank). The moratorium period is equivalent to the duration of the course plus a further 12 months, however it cannot exceed a maximum period of 5 years. A reduced variable interest rate of 2.95% per annum No security required
Representative example	Based on a loan amount of €65,000 being made available by BOV at a variable interest rate of 2.95% p.a. (Interest Margin of 0.50% plus CLBBR of 2.45%). The APRC will be 2.99% p.a. and the loan will be repayable in 119 equal monthly instalments of €626.50 and 1 final monthly instalment of €616.24 over a term of 10 years. Please note that the final monthly payment is indicative and may differ to reflect the actual amount owed, taking into account the first loan disbursement date, the first loan repayment date, any accrued interest, any prepayments and any lump sum payment/s. The total sum payable throughout the term of the loan, assuming the variable interest rate remains unchanged, will be €75,128.09 being capital of €65,000 and interest of €10,128.09. The interest that is fully subsidised during the moratorium period does not feature within this calculation. No processing fees apply. Note: The APRC is based on the following assumptions: • that you withdraw the total amount of credit immediately and in full at the start of the credit agreement, • that the interest rate is fully subsidised during the moratorium period, • that the fully drawn amount of credit is repaid by monthly instalments inclusive of interest, over the agreed term, after the moratorium period, • that the interest rate remains unchanged during the term of the loan, and • that the introduction and revision of any other charges may affect the APRC. Interest will be charged on an Actual/365-day basis. Each instalment will first settle the interest, and the remaining amount will be applied to reduce the loan amount.
Note	The Eligible Student Transaction benefits from the support from the European Union pursuant the Operational Programme II (OPII), titled ‘Empowering People with More Jobs and a Better Quality of Life, with the main objective of Investing in human capital to create more opportunities and promote the wellbeing of Society, through funding by European Social Funds Plus Programme 2021-2027 ("ESF+") All loan applications are subject to the Bank’s standard lending criteria and final approval. Please note that the loan term must not extend beyond your retirement age. To qualify as an Eligible Student Transaction, the following steps are required: The Facility Letter must first be signed by a Bank representative. You must then countersign the Facility Letter to confirm your acceptance of all terms and conditions. The loan will only become effective once: You have The Bank receives the signed the Facility Letter, and You have provided the Bank with the signed Facility Letter, and On condition that Funding is still available under the European Social Fund Plus (ESF+) Programme 2021–2027 at the time of your signature. The Eligible Student Transaction cannot include the refinancing of existing loans or already paid study-related costs. 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.