Thursday, August 26 2010 03:10

Unibank the leader at Armenian term deposits market


ArmInfo. In the first half of 2010, Unibank has retained its leadership in the market of term deposits. The volume of term deposits of the Bank amounted to 63.1 billion drams, and it increased over the same period last year up to 37.5%. Today Unibank offers one of the most extensive lines of deposit products. Recently, the Bank has offered depositors a new term deposit for physical persons Grand Prix. By placing deposit Grand Prix the customer will receive not only guaranteed income on the deposit but he also will have a possibility to take participation in prize drawing in September 2010. The main prize is a tour to Cyprus. Deposit Grand Prix is accepted in AMD, for a period of 365 days and at 11% annual interest rate. The minimum deposit amount is 100.000 AMD. All the depositors of Grand Prix get a possibility of receiving overdraft (credit means) to the sum of 80% of the deposit amount. No interest rate is charged on overdraft for 30 days. Deposit "Top 5" differs with the floating interest rates. The interest rate on the deposit is fixed on the basis of the average arithmetic interest rate, determined from the deposit products in top 5 banks leading in the portfolio volume of term deposits from physical persons. Quarterly interest rate of deposit is reviewed, that is, during the period of the deposit. Interest rate, depending on market conditions may increase. Currently the rate is up to 12.28%. However, the bank guarantees the investor a minimum rate of 9% -11% (depending on the period of deposit), below which the rate can not fall, even if the leading banks will reduce interest rates. Unibank also offers deposits with the regime of replenishment. Deposit replenishment - unlimited for periodicity, with the exception of the last three months of the deposit. During the deposit validity period the extendable amount cannot exceed the twofold of the initial deposit amount. Annual interest rate on deposit is 11% if the amount is placed in AMD, and 7% - if in U.S. dollars. The minimum amount is 100 thousand AMD or 300 dollars, the maximum period of placement - 365 days. All the depositors are granted Unipay unified utility payment system cards.

Replenishment mode also acts upon deposit "U-LUCKY". Within the deposit validity period the replenishment sum cannot exceed 6 million AMD or 20.000 USD. Interest rate on deposit is up to 10%. Depositors have an opportunity of granting overdraft to the sum of 80% of the initial deposit amount by the date of concluding the deposit contract. Interest rate on overdraft is provided at 0% for a period of 30 days.


Depositors who placed deposit "Capital +" have an opportunity of capitalization of interests to the principal amount of the deposit. Deposit accepted for a period of 31 to 365 days, the annual interest rate on deposit is up to 8,5%, and the minimum sum - 30.000 AMD

Multi-currency regimen is active during the whole deposit validity period, that is depositor can change the currency of deposit without canceling the contract . In case of changing the deposit currency, the relevant interest rate is valid for the remaining period of the deposit contract. Annual interest rate on this deposit is up to 9%, the minimum sum - 100.000 AMD.

The interest rate on deposit "Guaranteed" is up to 12.7%, the minimum sum - 100.000 AMD or 300 USD/Euro. The maximum deposit amount is unlimited. Interest payments on termination of the deposit by a bank or card account of a depositor. Interest payment is made to the depositor's banking or card account at the end of the term.
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