Homeowners who want to upgrade or refurbish their homes may now take out a loan at much more advantageous interest rates, thanks to the Home Improvement Loan launched by Bank of Valletta.

“The Home Improvement Loan offers one of the lowest interest rates in our portfolio as we believe that it is important for people to be able to invest continuously in one of their most valuable assets: their property,” said Edward Grech Executive Head Consumer Finance.

 

Customers can use the loan to finance a number of projects ranging from regular maintenance such as painting and plastering, to upgrades such as the purchase of a new kitchen, a fireplace, or the installation of other eco-friendly measures.

The Home Improvement Loan has an interest rate set at just 1% over the Bank’s Home Loans base rate, and in addition the processing fees are very low.  

“Although the Bank has had other loans which could be used for refurbishment and maintenance works, this is the first time that we have designed a specific product which caters for the customers’ requirements,” added Mr Grech.

The amount that can be borrowed under this product ranges from €10,000 to €200,000 with a maximum repayment period of 25 years.

Full details about this new product from Bank of Valletta may be obtained from the Bank’s website www.bov.com from any BOV branch or by calling BOVs Customer Service Centre on tel. 21312020 between Mondays and Saturdays, from 8am to 8pm ( excluding bank and public holidays).