Mediterranean Bank has just launched an innovative retail banking product – the Legacy Savings Account.

The Legacy Savings Account pays 2% per annum interest and includes life insurance cover to account holders aged 70 and under. Interest is paid twice yearly on 30 June and 31 December.

Legacy Savings Account holders automatically benefit from free life insurance without the need of undergoing any medical tests. The amount of life cover is equivalent to the balance held by the account holder at the time of death subject to a minimum balance of €5,000 and up to a maximum of €50,000.

Legacy Savings Accounts are also available in Sterling and US Dollars at an interest rate of 1.5% and 1% per annum respectively.

In the case of a joint account held between two persons, cover paid on the death of one of the account holders will be equivalent to half the balance on the account. The surviving account holder will be covered on the full balance of the account, up to a maximum of €50,000.

Further information, including applicable terms and conditions, can be accessed online at www.medbank.com.mt, via email on [email protected] or by calling 2557 4400. Mediterranean Bank’s Head Office is located at 10, St Barbara Bastions Valletta with a Branch Office at 36A, Tigné Seafront, Sliema.