BOV Eco Loan
Benefit from up to €15,000 in interest-free* and security-free BOV Eco Loan – Special Scheme
Virtue Solaris has partnered with Malta’s Chamber for Small and Medium Enterprises – GRTU and with the Bank of Valletta, to offer our customers the possibility of interest-free* loan financing for your solar energy system. Yes, you got it right – you can obtain 100% of financing for your solar energy system payable over up to three years, with no need for any loan security, and we pay your interest!
Bank of Valletta can help you finance the purchase of photovoltaic systems through the BOV ECO Loan – Special Scheme.
The BOV ECO Loan – Special Scheme provides an affordable, customised solution designed to help you finance the purchase of photovoltaic systems, whilst safeguarding our environment. You may also eligible to benefit from the grant amount of up to €3,000 and PV feed-in-tariff of 10c5, if you opt not to apply for a government grant, from feed-in tariff of €0.15 / kWh guaranteed for 20 years.
The BOV ECO Loan – Special Scheme requires no security and can be used for purchases between €1,000 and €15,000.
Repayments may span up to a maximum period of 3 years through monthly installments which will be exclusive of interest given that interest on the loan will be paid by us. Hence, the amount you pay every month is determined by the invoice amount less REWS grant (if applicable) divided by the monthly selected term (up to 36 months). Should you decide to repay the loan before the stipulated term, whether in one lump sum or by increasing your monthly installments, no penalties or additional fees apply. No processing fees apply. There are no hidden fees and no extra costs.
To apply for the BOV ECO Loan – Special Scheme, the Bank requires that:
- you are over 18 years of age
- in regular full-time employment or receiving a regular income / pension
If you answer ‘yes’ to both questions, kindly visit the BOV Branch of your choice, where our representatives will be happy to assist. To apply for the BOV ECO Loan – Special Scheme, you will require:
- Your I.D. Card
- Evidence of income – FS3 or Profit & Loss Account together with the Inland Revenue income and self-assessment form submitted to the Inland Revenue or evidence of pension
- Proforma invoice duly marked by your retailer and noting the REWS grant amount (if applicable)
For further information about this amazing financing scheme, please consult the Bank of Valletta’s webpage and see also this information sheet: BOV_Eco_Personal_Loan_Prod_Info_Guide_25082017.
*May not be available in conjunction with some of our offers. Terms & conditions apply.
Personal Energy Loan
Alternatively, you may opt for another BOV product – the personal energy loan.
The BOV Personal Energy Loan is a low-cost financing solution designed to assist you invest in lifestyle choices that will reduce your carbon footprint. With this loan, you can borrow up to EUR 50,000 to finance investment in solar panels, EV charging facilities and other energy-related investments for the maximum term of up to 15 years. A subsidized interest rate of only 2.5% per annum applies, whilst the first 3 years of the loan, the interest rate goes down to only 0.5%! No collateral is required to secure this loan, and there are no processing fees, early repayment fees or customer’s own contribution!
More details about this loan can be accessed from BOV website here: https://www.bov.com/content/bov-personal-energy-loan