Bank of Valletta has announced changes in interest rates on customer deposits as from the the 3rd of December and 3rd of February 2020.

The Bank said in a statement that new interest rates will be applicable to Fixed Term Deposits opened or renewed as from today; the interest rates on existing term deposits will remain valid until maturity. Interest rates on other deposit accounts will change with effect from the 3rd of February 2020.

BOV concluded by saying that it has retained the same interest rates for the past two years despite rising negative rates, “choosing to absorb most of the impact of negative interest costs on deposits rather than passing them on to all of its customers.

The revised interest rates can be found on www.bov.com“

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