New BoV loans for persons with disabilities

Bank of Valletta has launched a new loan facility specifically tailor-made for meeting the needs of persons with disabilities.

The launching of this new loan product is the result of an agreement entered into between the bank and the Kummissjoni Nazzjonali Persuni B'Dizabilità (KNPD). This new loan product is available to those in possession of a special identity card issued by KNPD, who are over 18 years of age and have a regular income. For those under 18 years of age, applications may be lodged in the name of parents or of legal guardians who, in turn, should be in full-time employment.

This new loan product, which will finance any necessities directly required to meet the applicant's special needs, is being offered on highly advantageous terms. The loans, for a maximum of Lm8,000, are offered at an interest 0.5% below the bank's base rate. With the bank's base rate currently at 4%, the current interest on such loans is, therefore, just 3.5% per annum.

The facility, which will be granted on an unsecured basis, is repayable over a maximum period of five years or up to retirement age, whichever is the earlier. Full details about terms and conditions of this new loan product are available from any BoV branch.