Tuesday, December 27 2011 17:00

Unibank increases time deposits of legal entities by 50% over year


ArmInfo. As of 1 Dec 2011, the time deposits in Unibank amounted to 61.4 bln AMD, having increased by 27% as compared to the same period of 2010. The time deposits of individuals exceeded the same index of 2010 by 24% to 51.2 bln AMD as of 1 Dec 2011, the press service of Unibank told ArmInfo.

According to the bank, the time deposits of the legal entities grew by 50% to over 10.2 bln AMD. The growth in time deposits was conditioned by the population's confidence in the bank, as well as by the attractive terms of the deposits meant for various categories the customers, the source says.

At present most of the depositors of the bank give their preference to the Holiday-10 deposit launched on the threshold of the 10th anniversary of Unibank. The deposit yield is rather high - 9% in US dollars and 12.5% in Armenian drams. The minimum amount of the deposit is 400,000 AMD or 1000 USD.

The funds can be deposited for a period ranging from 181 to 365 days. Another advantage of the Holiday-10 deposit is the opportunity to receive an overdraft worth 90% of the deposit amount. All the depositors receive ArCa or Visa bankcards. One can receive the Holiday-10 deposit before 31 Dec 2011 at any branch of Unibank in Yerevan or marzes.

Unibank is in the lead in the Armenian banking system by both the portfolio of time deposits and the portfolio of individuals' time deposits.
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