Bank of Valletta and GRTU have renewed their collaboration to offer customers wishing to invest in green products.
The BOV ECO loan - GRTU scheme is the result of an amalgamation of GRTU's Photo Voltaic Purchase Facilitation Scheme (PVPFS) with the BOV ECO loan. Now, customers wishing to purchase photovoltaic equipment and solar water heaters from a number of retailers who are authorised by the GRTU under the PVPFS scheme can benefit from greater benefits when applying for the BOV ECO loan - GRTU scheme.
The agreement was signed on Friday evening at the GRTU stand at the MFCC Malta Trade Fair. GRTU was represented by Mr Paul Abela and Ms Abigail Psaila Mamo. President and CEO respectively, while Mr Edward Grech, Chief Officer Consumer Finance signed on behalf of Bank of Valletta. The launch was held in the presence of The Hon Dr Ian Borg, Parliamentary Secretary for EU funds and 2017 Presidency.
Under the scheme, customers may obtain personal loans from Bank of Valletta for amounts ranging between €1,000 and €15,000, repayable over a maximum period of three years. Loans will be granted at a special discounted interest that will be paid by the retailer. In addition, no processing fees are levied. The scheme will remain in force until the 31st December 2015.
"There is greater environmental consciousness in the market," said Edward Grech Chief Officer Consumer Finance at Bank of Valletta. "Nowadays, our clients actively ask about green financial products. The BOV Eco Loan is specifically designed to address this growing segment of our market base helping our customers to finance their eco-friendly purchases." Speaking about the scheme, Mr Grech explained that, "We are here providing affordable, customized solutions to help our environmental-conscious customers to enhance their homes and improve their lifestyles, whilst safeguarding the green environment, which we consider at par with the other stakeholders."
On behalf of GRTU, Mr Paul Abela expressed his satisfaction on the signing of the agreement. "Past experience has shown that customers appreciate such initiatives. They also serve to promote higher standards among retailers." He concluded his intervention by thanking the Ministry for Energy and Health for their support in making such schemes possible.
Mr Charles Buttigieg from the Sustainable Energy and Water Conservation Unit said that this measure complements the government's efforts aimed at increasing the share of renewable sources in Malta. He explained that, "Malta has targets to meet and with the collaboration of all stakeholders in the field, Malta can increase renewable energy sources despite its size."
The Hon Dr Ian Borg congratulated Bank of Valletta and GRTU for the initiative, saying that it will help more families to opt for greener forms of energy, empowering them to manage their utility bills in a more sustainable manner.
Full details about the BOV ECO Loan - GRTU scheme can be obtained from https://www.bov.com/content/bov-eco-loan---grtu-scheme, any BOV branch or by contacting BOV Customer Service Centre on 2131 2020 between Mondays and Saturdays, from 08.00 to 20.00 hours (excluding bank and public holidays). For further details about the PVPFS scheme, one may visit www.grtu.eu