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BTA Bank raises interest rates on private clients’ deposits

Author: Alex Freedmann Section: Business News
Tags: BTA Bank
BTA Bank’s new cash deposit terms that will give private clients more freedom in handling their savings took effect on May 25. Specifically, the Narodny Deposit offer, one of the bank’s most popular services, now attracts an 18.3% annual interest rate for two-year deposits that can be opened with just R15,000. 

Besides, the interest rates on other deposit accounts — such as the Dokhodny, Udobny and Progresivny — have also been increased as also their time limits, while the minimal sums for opening the accounts have been reduced. All these factors, according to the management, will enable clients to personally set the time limit for their deposits and get guaranteed income, thanks to the new solid interest rates, which are applicable to accounts, even those opened for a minimum period. 

BTA Bank also plans to introduce new deposit service for private clients that will reflect the current trends on the Russian financial market, such as providing for preterm calculations and payments of the accrued interests. This way, the bank is offering its clients the opportunity to open deposit accounts with solid interest rates and minimal requirements on the periods and sizes of the initial sums for opening the accounts.