Higher interest from BOV on fixed deposits

Bank of Valletta announced that, with immediate effect and until further notice, it is offering higher interest rates on one and two year fixed deposits. Following this announcement, customers opening a fixed deposit account can earn up to 3.75% gross interest per annum on a two year fixed deposit with a balance of more than Lm 10,000.
These new interest rates offers on one and two year fixed deposits follow the recent announcement by the Central Bank of Malta to raise the central intervention rate by 25 basis points and represent increases of up to 0.75% on the interest rates that were being offered before the change in the base rate.