Novum Bank Limited

Business Summary

Services
retail banking
Products
Clients
natural persons
corporate entities
Area Served
MTMalta
EUEuropean Union
DEGermany
Account Currencies
EUEUR
Card Providers
MasterCardMasterCard

Novum Bank Limited provides services in the area of retail banking. Novum Bank Limited offers a range of products including micro-loans, credit cards, prepaid cards, time deposit accounts (0.25 - 0.60 %), consumer loans (7.95 - 7.95 %). Novum Bank Limited makes its solutions available to natural persons, corporate entities.

Products

Time Deposit Accounts

Time deposits accounts are interest-bearing deposit accounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).

Novum Bank Limited offers the following time deposit accounts.

Updated on 4 December 2020

Festgeld
Sales Region
DEGermany
Investment Amount
1,000 - 100,000 EUR
Interest Rate (p.a.)
0.25 - 0.60 %
Deposit Term
3 - 12 months
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Min. Interest Rate (p.a.)
0.25 %
Max. Interest Rate (p.a.)
0.60 %
Min. Deposit Term
3 months
Max. Deposit Term
12 months
Min. Investment Amount
1,000 EUR
Max. Investment Amount
100,000 EUR
Interest Frequency
1 times a year

DEGermany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.
Deposit Guarantee. Time deposit accounts made with Novum Bank Limited are covered by deposit guarantee scheme of Malta up to 100,000 EUR per depositor.
Withholding Tax. Interest income gained on time deposit accounts by non-residents of Malta is not taxed. Interest gained on time deposit accounts by residents of Malta is taxed at 15.00% rate. When the interest is paid, this tax is automatically withhold by Novum Bank Limited from the time deposit account.

Consumer Loans

Consumer loans are secured or unsecured (i.e., backed or non-backed by a collateral) loans provided to retail customers for personal, family, or household purposes or for purchase of goods and services. In terms of repayment, consumer loans can be revolving (when a credit limit can be spent, repaid and spent again) or installment (such a loan is repaid in equal installments until the loan is paid off at the end of its term). Consumer loans offered by Novum Bank Limited are shown in the table below.

Updated on 4 December 2020

Minikredit
Sales Region
DEGermany
Borrowing Amount
1,500 EUR
Loan Term
2 months
Effective Rate (p.a.)
7.95 %
Consumer Loan Details
Loan Currency
EUR
Min. Loan Term
2 months
Max. Loan Term
2 months
Min. Borrowing Amount
1,500 EUR
Max. Borrowing Amount
1,500 EUR
Min. Effective Rate (p.a.)
7.95 %
Max. Effective Rate (p.a.)
7.95 %

DEGermany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.

See Also

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