Make your home greener with BOV’s HomeEnergy Loan

Last Updated on Tuesday, 4 May, 2021 at 2:17 pm by Andre Camilleri

Making your home more sustainable, besides being environmentally friendly, is a smart way to save money. Bank of Valletta has partnered with the European Investment Fund to launch the BOV HomeEnergy Loan to assist new and existing home-owners to finance Energy Efficiency and Renewable Energy (EERE) projects.

The BOV HomeEnergy Loan is available either as part of a new Home Loan, or on its own for existing home-owners, and can be used to finance Energy Efficient investments such as improving insulation and apertures, the installation or replacement of space and water heating, cooling and ventilation systems, lighting, building and energy management systems as well as renewable energy investments related to the connection to the energy grid or energy storage facilities among others.

Customers can apply for a HomeEnergy Loan up to €100,000 for a maximum term of 25 or 40 years[1] (term not exceeding retirement age) and can enjoy a number of benefits such as waived mortgages processing fees on the HomeEnergy Loan, no early repayment fees, and a variable interest rate of 0% over the Bank’s base rate (currently at 2.15%) which is being subsidised by 2% for the first three years by Energy Efficiency and Renewable Energy Fund of Funds (‘EERE Malta’).

“The BOV HomeEnergy Loan will enable your home to have a significantly smaller carbon footprint while the improvements will reduce your energy consumption and help you save on electricity bills,” said Kenneth Farrugia, Chief Retail Banking Officer at Bank of Valletta. “Through BOV’s excellent relationship with the EIF as well as in line with our commitments towards the Environment, Social and Corporate Governance (ESG), we are at the forefront in promoting the financing of energy efficient products and installations, ultimately paving the way for a better environment.”

Customers who want to make the right energy savings choice are invited to set up an appointment with their BOV branch by calling on (+356) 2131 2020 or by sending an email on Further information can be found on

The following is a representative example of a BOV HomeEnergy Loan product based on a loan amount of €100,000 being made available at an interest rate of 0% p.a. over the Bank’s Home Loans Base Rate (currently at 2.15%) over a term of 40 years. For the first 3 years of the loan, the interest rate will be subsidised by 2% per annum on the outstanding principal by Energy Efficiency and Renewable Energy Fund of Funds (‘EERE Malta’), provided that the loan satisfies all the requirements of the facility letter and the General Conditions therein. Therefore, for the first three years, each instalment will first settle the debit interest excluding the subsidy interest (ie presently 0.15%), and the remaining amount will be applied to reduce the loan principal; thereafter each instalment will first settle the full debit interest (i.e. presently 2.15%), and the remaining amount will be applied to reduce the loan principal. The APRC will be 2.23% p.a. The loan will be repayable in 480 equal monthly instalments of €312.37 over a term of 40 years. Applicable charges on the loan are as follows – no processing fee; legal fee of €250; no booking fee; updating of searches fee of €20 and a closing of account fee of €100. No early repayment fee applies.

Offer may close earlier at Bank’s discretion. All loans are subject to normal bank lending criteria, credit approval by the Bank and a credit agreement.  The loan is to be secured by a first ranking hypothec and special privilege over the property being financed, a first ranking pledge over a life assurance policy covering the whole loan amount and a buildings insurance policy for the replacement cost of the property being financed. If repayments are not maintained, the Bank may take steps to sell the property financed following legal proceedings and the borrower may lose the property. Further terms and conditions are available from

[1] The maximum term is dependent on the customer’s categorisation as laid out in Central Bank of Malta Directive No. 16 – Regulation of Borrower Based Measures

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