The latest addition to Bank of Valletta’s range of products is a new five-year callable deposit account denominated in US dollars.

Available from all BOV branches, the new deposit account offers a 100 per cent capital guarantee if held until maturity or early termination by the bank. It also offers attractive interest rates and payment of interest every quarter. Over the first year, the account will pay a rate of interest of four per cent, over the second year, a rate of 4.10 per cent, over the third year, a rate of 4.25 per cent, over the fourth year, a rate of 4.50 per cent and a five per cent rate over the fifth and final year. Gross interest payments are calculated at the above fixed rates and will be paid quarterly on 18 February, 18 May, 18 August and 18 November.

This is a limited offer that closes on 18 November, or earlier at the bank’s discretion. The commencing date of this deposit is 18 November and the maturity date is 18 November 2010. Minimum deposit required is of $10,000 with multiples of $1,000 thereafter.

Speaking about this new deposit product, Executive Head – Wealth Management at BOV, Mario Pullicino, said that the bank is committed to support its customers by providing on a regular basis, innovative products that offer added value. “The new USD callable deposit account enables Maltese depositors to diversify their portfolio, offering attractive rates of return whilst guaranteeing capital protection when the deposit is held up to maturity,” said Mr Pullicino.

He added that BOV today has a fully fledged wealth management division providing a full range of services from financial planning to discretionary management of customers’ portfolios and trust services. Further information about the 5-year callable USD deposit account may be obtained from all Bank of Valletta branches in Malta and Gozo, by calling the BOV Wealth Management Division on 2275-3864 or from the bank’s website www.bov.com