BOV

BOV has announced that it is changing its credit interest rates on fixed term deposits.

Savers are set to miss out, as interest rates for fixed-term deposit accounts of more than six months are set to be slashed.

The new rates indicate that for fixed-term accounts of one year and over, the interest rate will be set at 0.25 per cent, as opposed to the previous variable rates, which went from 0.3 per cent to 0.7 per cent for fixed terms of one to five years.

However, the bank makes clear that interest rates on existing fixed-term deposits will remain valid until maturity.

The revised rates will apply for term deposits opened or renewed as from 2nd March 2021.  

Fixed Deposit AccountRates applicable up to and including 1st March 2021New rates applicable from 2nd March 2021
One month0.030 per cent0.030 per cent
Three months0.05 per cent0.05 per cent
Six months0.1 per cent0.1 per cent
One year0.3 per cent 0.25 per cent
Two years0.4 per cent0.25 per cent
Three years0.5 per cent0.25 per cent
Four years0.6 per cent 0.25 per cent
Five years0.7 per cent0.25 per cent
BOV Term ISA0.5 per cent0.5 per cent
Bank of Valletta interest rates on term deposits in Euro

More details of BOV’s interest rates, old and new, can be found here.

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