Interest-only home loan

Bank of Valletta is offering a home loan product through which the customer is only asked to repay interest during the term of the loan.

Customers are being offered the opportunity to take out a loan to purchase or complete a property and repay the original amount at the end of a maximum term of six years. The loan has to be settled by the time the customer reaches the age of 65.

The original amount will be repaid either from the sale of alternative property, from the maturity of investments or from any other source acceptable to the bank.

The customer may opt for either a variable or a fixed rate when taking out an interest only BOV home loan.

To be eligible to apply, customers should have a gross annual income of at least Lm25,000 or a net unencumbered surplus of at least Lm200,000.

For full details about the interest-only BOV Home Loan, customers may enquire at any branch or call the BOV Customer Service Centre on 2131 2020.