Following the recent announcement by the Central Bank of Malta to raise the Central Intervention Rate by 25 basis points to 3.50 per cent, Volksbank Malta Limited has also reviewed the interest paid on its Malta liri products.

“The new rate now payable on the current account with cheque book facility is 1.40 per cent,” managing director Herbert Skok announced.

“This is considered to be a very competitive rate for such a product. Apart from this, a revision of the rates for all tiers of the term deposit accounts was also made. Just to mention one simple example, a deposit of over MTL 20,000 for a period of one year would today attract a 3.5 per cent credit interest.”