The BOV ECO Loan – Special Scheme
Bank of Valletta can help you finance the purchase of photovoltaic systems and solar water heaters 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 and solar water heaters, whilst safeguarding our environment. You may also eligible to benefit from the grant amount of up to €2,300 and PV Feed-in-Tariff of 15c5 for the first six 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 instalments which will be exclusive of interest given that interest on the loan will be paid by the retailers participating under the scheme. 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 instalments, no penalties or additional fees apply.
No processing fees apply. There are no hidden fees and no extra costs.
Qualifying for the Loan
To apply for the BOV ECO Loan – Special Scheme, we require 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, you 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 more information on ECO Loan – Spacial Scheme please contact Bank of Valletta
MicroInvest covers investments undertaken between 1st January 2010 and 31st December 2011. The following are eligible expenses for this incentive:
- Furbishing and upgrading of business premises for improved operations;
- Machinery or technologies to improve operations;
- Machinery or technologies which save or generate energy;
- Investments which enable compliance with regulations, including Health & Safety, Environment Directives and Physical Access;
- Cost of one commercial vehicle as long as such vehicle is involved in the transport of goods as specified in the guidelines;
- Wage Costs for new jobs created and/or apprenticeships taken, as long as these constitute a net increase in the total number of employees as of the 10th November 2009.
Applications should be made to Malta Enterprise once a year after the costs have been incurred.
For more detailed information about the scheme please visit the Malta Enterprise website.