Mediterranean Bank is pleased to announce the launch of a new and innovative retail savings product – the Now Account which complements our existing successful products by offering its customer base more choice.

The Now Account is a term deposit,available initially in Euros, for a period of one, two or three years with the interest for the entire term of the account paid upfront. The minimum deposit amount required to open a Now Account is €5,000 or equivalent and interest is paid directly into the client’s savings account with Mediterranean Bank,from where the client can access the full interest payment within 10 business days.  Other major currencies will be initiated in the coming weeks.

Launching the Now Account at the Bank’s Head Office Ray Calleja; Head   of Consumer Banking; said: “The Now Account continues the trend set by Mediterranean Bank of offering innovative savings products in the local market at very competitive and consistent interest rates whilst remaining committed to our reputation for transparency and client service.”

“Whilst our wide range of fixed term deposit accounts remain our core products, the Now Account gives the investor the choice of receiving the interest upfront.  One can take on a planned or desired expense or else re-invest the income without depleting one’s capital.

“We expect another positive response from our prospective and existing customers to the Now Account as we continue to develop the product range for our growing client base.”

Further information, including applicable terms and conditions, can be accessed online at  www.medbank.com.mt, via email on info@medbank.com.mt or by calling 2557 4400.  Mediterranean Bank’s Head Office is located at 10, St Barbara Bastions Valletta with Branch Offices at 72 Constitution Street Mosta; 127, First Floor Antoine De Paule Square, Paola; 36A, Tigné Seafront, Sliema; and 63, South Street, Valletta.

Mediterranean Bank plc is licensed by the MFSA under the Banking Act. Company Reg. No C34125.  Mediterranean Bank operates under the depositor compensation scheme established under the laws of Malta, where balances are covered up to €100,000 per person.

ENDS