Tuesday, May 14 2013 19:15
Anelik Bank introduces new deposit
ArmInfo. Anelik Bank has introduced a new time deposit - Beneficial.
The press service of the bank reports that this is a chance for holders to get the interest at once.
The maximum period of the deposit is one year, the maximum size is 100,000 AMD, 200 USD or 200 EUR. The annual yield for an AMD deposit is 12.99%, for a USD deposit 8.11%, for an EUR one 5.26%, with the interest rates being 11.5%, 7.5% and 5%, respectively. As a taxpayer the bank has the right to charge up to 10% VAT from the interest. Depending on the size of their deposits the holders will be granted ArCa, Cirrus/Maestro or MasterCards.
"Anelik Bank gives high priority to the relevance and convenience of its products. The Bank also takes into account the market demand and seeks to provide its customers with new types of banking services via launching attractive products on favorable terms", says Armen Arevyan, head of the Bank's press service. He says that In the case of the new Beneficial deposit, the depositor is paid the annual yield as a lump sum.
The Financial Rating of Armenian Banks prepared by the Agency of Rating Marketing Information (ArmInfo) says that Anelik Bank's time deposits grew by almost 17% (by 5.5% in Q1 2013 alone) to 25.4 bln AMD. Over 94% of them fell on individuals' funds. In Q1 2013 the absolute value of personal deposits grew by 22% as compared with Q1 2012 and by 7.7% as compared with Q4 2012. As of 1 April 2013 the share of time deposits in the total liabilities of the Bank is nearly 52% against 39% a year before.
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