In a statement, Bank of Valletta announced a change in its interest rates on deposit accounts.
The new interest rates will be applicable to Fixed Term Deposits opened or renewed as from 3 December 2019; the interest rates on existing term deposits will remain valid until maturity. Interest rates on other deposit accounts will change with effect from 3 February 2020.
The statement also said that Bank of Valletta had retained the same interest rates for the past two years despite rising negative rates, choosing to absorb most of the impact of negative interest costs on deposits rather than passing them on to all of its customers.
The revised interested rates could be found on www.bov.com.