Bank of Valletta is launching a new attractive six-year term deposit account denominated in GBP offering a guaranteed gross interest of four per cent paid at the end of the first year of the deposit and a 100 per cent guarantee on capital if the deposit is held until maturity date. Following the first year, the interest rate is variable and linked to the performance of a basket of 20 international blue-chip shares.

“The new Equity Linked Deposit Account from Bank of Valletta continues to widen the choice of financial products available on the market and is considered to be a good opportunity for those seeking to nourish their investment whilst seeking to enjoy potentially higher returns,” said Mario Pullicino, executive head responsible for Wealth Management at Bank of Valletta.

“The interest rate will be linked to a basket composed of 20 international blue-chip shares, selected for their long term potential and include names such as Zurich Financial Services, The Allianz Group (Allianz), Bayer AG (Bayer), Intel Corporation, and The Procter & Gamble Company (P&G),” Mr Pullicino explained.

Deposits into this account can be made at a minimum of £2,000 and in multiples of £1,000 thereafter. No maximum limit applies on the annual interest rate from the second to the sixth year. The start date of the product is 20 February reaching maturity on 23 February 2012.

In accordance with current tax legislation, Maltese residents can opt to be taxed at 15 per cent Final Withholding Tax on any interest received. Customers who are not subject to tax in Malta will receive their interest gross without deductions of Final Withholding Tax.

This is a limited offer, which closes on 17 February or earlier at the bank’s discretion. Full details are available in the product brochure available at all Bank of Valletta branches in Malta and Gozo.

Further information can also be obtained from the BOV Customer Service Centre on 2131 2020 or from the bank’s website www.bov.com.