Bank of Valletta has launched a new deposit product – the BOV Trust Account. This is an innovative deposit account that is based on the concept of a trust. As such, the BOV Trust Account, apart from providing customers with the highest degree of discretion and confidentiality, also doubles as a very flexible and useful estate and inheritance-planning vehicle.

Customers can effect deposits and withdraw from the BOV Trust Account, and even change the designated beneficiary, at any time without any complexities. Withdrawals are subject to a 90-day notice period. Interest will be paid once a year and currently amounts to 3.75 per cent gross per annum.

Designated beneficiaries of a BOV Trust Account may include the depositor/s himself/themselves, the surviving spouse, children, grandchildren, parents and grandparents, nephews and nieces, siblings, partners who jointly settle and Maltese charitable institutions as defined by the Trusts and Trustees Act.