YEREVAN, April 23. /ARKA/. VTB (Armenia) bank has launched three new types of deposits designed for retail clients. Deposits are available in AMD and Russian rubles. The annual yield on deposits in national currency ranges from 7.48% to 10.22% per annum.
The new deposits are called “Stable”, “Growing” and “Unlimited.” The depositor can choose a product with a higher rate, replenishment option and partial withdrawal, as well as he term of placement and interest payment options.
Funds for ‘Stable” deposit, can be placed from 1 month to 4 years with the amount from AMD 50 thousand or RUB 10 thousand. Replenishment and partial withdrawal are not provided. Interest payment is made at the end of the deposit term, monthly or with monthly capitalization. Depending on the period of placement, at early closing of the product interest may be retained.
Deposit “Growing” with the possibility of replenishment is available from 30 days to 3 years. Partial withdrawal and replenishment are fully available for the deposit “Unlimited”.
The term of placement is from 3 months to 1 year with interest payment at the end of the term. The minimum placement amount for both deposits is AMD 30 thousand or RUB 5 thousand.
“Individual approach is important for clients when placing funds. Therefore, taking into account the established market demand, we have expanded our line of savings products by offering three different deposits with flexible terms. They are available in national currency and Russian rubles. However, taking into account the profitability, today the most popular currency for deposits is AMD. At the end of 2023, the total volume of time deposits of the population exceeded AMD 80 billion, 93% of which are in the national currency,” commented Taras Kladchenko, Deputy General Director – Chairman of VTB (Armenia).
One can open a deposit at VTB (Armenia) in any branch or remotely in “Video Banking”. Its replenishment is available in the bank offices, through TelCell and EasyPay payment terminals, as well as in Haypost post offices.
When making a deposit of AMD 1 mln or the equivalent amount in foreign currency, the client is provided with a debit card with free service and withdrawal of funds from the bank’s ATMs for the deposit period.
Individuals’ savings are insured by the Deposit Compensation Fund. Limits are determined depending on the amount of deposited funds. Income tax on interest is 10% per annum.
The activities of VTB Bank (Armenia) CJSC are regulated by the Central Bank. -0-
