Bank of Valletta has revised downwards its credit interest rates on some of its fixed-term deposits.
Interest rates on existing fixed-term deposits will remain valid until maturity. The revised rates will apply for term deposits opened or renewed as from March 2 of this year.
Deposit accounts with a balance between €200 and €500,000, which are fixed for one year, will see the interest rate drop from 0.3% to 0.25%
So will two, three, four and five-year fixed deposit accounts. Interest will drop to 0.25% from 0.4%, 0.5%, 0.6% and 0.7%, respectively.
Interest rates across the Euro Zone are currently at historic lows.
The revised interest rates can be found here.