Bank of Valletta said that the two-year term deposit account at six per cent interest rate, denominated in sterling issued on 4 August received an outstanding response from the general public.

In this regard, the Bank said that it closed the product offer at close of business on Monday 11 August.

“We are delighted with the market response to this limited deposit opportunity in sterling launched by BOV,” said Charles Borg, chief officer Financial Markets and Investments at Bank of Valletta.

“As the Bank of choice for customer deposits, we remain committed to place on the market attractive deposit products. We continue to offer special deposit opportunities offering highly attractive rates on a regular basis in response to market demand. This is also in line with our aim to offer added value to our customers”, concluded Mr Borg.

The sterling account has generated a remarkable interest, as consumers discovered a unique opportunity to deposit their funds, enjoying an exceptionally high interest rate while having the benefit of both interest and capital guaranteed.