19 April 2006

The Web
Business Today

New fund-linked deposit account from Bank of Valletta

Bank of Valletta is launching a new six-year term fund-linked deposit account. Denominated in Euros, the Fund-Linked Deposit Account is an innovative investment opportunity. It allows investors to combine Capital Protection with Global Stock Market Potential Returns.
The Fund-Linked Deposit Account brings together the features of fixed interest rates and potential equity-fund returns. 50% of the deposit is set up as a Step-Up Interest Rate structure, paying an attractive rate of interest on each anniversary date whereas the other 50% is linked to a basket of equity-funds offering the opportunity to participate in the potential growth of global equity markets.
“At Bank of Valletta, we continue to deliver attractive deposit products that offer long term value to our customers,” said Mario Pullicino, Executive Head, Wealth Management at Bank of Valletta. “Whilst capital remains guaranteed if the deposit is held until maturity, the performance of the fund-linked portion of the deposit is linked to a basket of funds. At the end of each quarter, during the life of the deposit, the weighted average performance of the basket of funds will be recorded. On maturity, the final performance will be calculated on the 24 recorded performances’ average,” explained Pullicino.
Investors may enter this new Fund-Linked Deposit Account with a minimum deposit of EUR 5,000 and multiples of EUR 1,000 thereafter. No entry fees are applicable for establishing a BOV Fund-Linked Deposit Account.
The Fund-Linked Deposit Account offers a guaranteed and attractive interest rate ranging from 2.250% up to 4.000% on 50% of the deposit, if held until maturity. Interest on the remaining 50% of the deposit is linked to 75% of the performance of the basket of investment funds.
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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