25 January 2006

The Web
Business Today

New sterling equity-linked deposit account

Bank of Valletta is launching a new six-year term deposit account denominated in GBP offering a guaranteed gross interest of 4% paid at the end of the first year of the deposit and a 100% 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)”, explained Pullicino.
Deposits into this account can be made at a minimum of GBP 2,000 and in multiples of GBP 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 the 20th February 2006 reaching maturity on the 23 February 2012.
In accordance with current tax legislation, Maltese residents may opt to be taxed at 15% 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 17th February 2006 or earlier at the Bank’s discretion. Full details are available in the product brochure which is available at all Bank of Valletta branches in Malta and Gozo. Further information may also be obtained from the BOV Customer Service Centre on 2131 2020 or from the Bank’s website www.bov.com.

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