A personal loan is probably one of the most basic financing products. However, there are so many variables that come into play when one considers financing. The decision to approach a bank for financing to satisfy a personal need is as unique as the customer.

“These are all considerations that our teams looked into when reviewing the Bank’s personal lending portfolio,” explained Marisa Said who heads the Bank’s Consumer and Microbusiness Lending arm.

“We tried to reimagine this financing solution, ensuring it addresses the concerns and needs of our customers when they are considering taking up such a product,” she explained. The Bank looked at the customer journey to make the whole process from inception to drawdown as seamless and painless as possible. The personal loan was not only looked at in isolation but also as a key element in a holistic financial plan. A thorough analysis of the product’s suite of benefits was also undertaken. Bearing in mind the modern customer’s needs, they built into the Personal Loan automatic free life cover for any unsecured or even partly secured lending up to €25,000, extended the term of repayment to 15 years, and discounted the processing fee to 0.15% of the loan amount.

The new campaign being launched by the Bank also hones in on the customer, putting the spotlight on different needs that the modern customer usually encounters such as medical and cosmetic procedures. As Daniel Magrin, who heads the Bank’s Marketing and Product Lifecycle Management said, “At Bank of Valletta, we’re focused on understanding our customers’ requirements and providing value-adding solutions to adequately address their needs throughout their life journey. This also coloured our choice of communication material, that focuses on real-life customer scenarios.”

Customers who wish to inquire about the BOV Personal Loans or request a quotation may do so directly from www.bov.com/personalloans. They may also opt to set an appointment automatically with their preferred branch via the website, or call our Customer Services Team on 356 2131 2020 or by e-mail at customercare@bov.com.

Disclaimer: The benefit of the free life cover applies on the loan balance up to a maximum of €25,000 per loan until age 69 (inclusive) or until loan account is closed, whichever is the earlier. T & C apply. All loans are subject to normal bank lending criteria and final approval from the Bank. The term of the loan must not go beyond retirement age. Issued by Bank of Valletta p.l.c. 58, Triq San Żakkarija, Il-Belt Valletta VLT 1130. Bank of Valletta p.l.c. is regulated by the MFSA and licensed to carry out the business of banking in terms of the Banking Act (Cap. 371 of the Laws of Malta).