VTB Bank (Armenia) suggests opening accumulation accounts at an ascending rate of up to 8% p.a.

 

The Bank says that the customer makes the first accumulation when opening the account of at least 10,000 AMD. If the customer retains the daily balance of his/her accumulation account at no less than 10,000 AMD within the current month, no average monthly commission fee will be applied. Otherwise, the monthly fee for the account servicing will be 390 AMD.     

 

The accumulation account at the VTB Bank (Armenia) has a number of advantages: the customers can replenish the account, withdraw funds from the account regularly (advantage as compared to deposits), enjoy a high yield (as compared to the banking accounts) an opportunity to accumulate funds for long-term purposes; an opportunity to make remote accumulations due to the wages, transfers, etc. In addition, opening such an account will need little time and few documents. Moreover, when opening an accumulation account at VTB Bank (Armenia), the customers are provided with free internet banking service, which will allow the customers to accumulate the funds round-the-clock without visiting the Bank's branches. The accumulation account can also be replenished through more than 1,200 TelCell terminals in Yerevan and in the provinces.

 

One can get further information about the accumulation accounts by visiting the Bank's website at 

http://ru.vtb.am/retail/payments/savings/index.php, visiting any of the Bank's branches or contacting the call center of VTB Bank (Armenia) by dialing 87-87. 

 

By ArmInfo's Financial Rating of Armenian Banks, as of 1 July 2015 VTB Bank (Armenia) retained its position among the top-3 banks in terms of call liabilities - 64.6 bln AMD, and among the top-5 banks 

in terms of time deposits  - 109.2 bln AMD (with 82% being personal time deposits). In Jan-June 2015, the Bank increased its call liabilities by 26.2%, and time deposits by 7.3%. The growth for Q2 

alone was 13.7% and 6.7%, respectively. The accumulation account is an alternative to the time deposit and the Bank's offer to the customers to open such accounts at attractive rates will allow intensively increasing the payables to the customers. The holders of accumulation accounts, in turn, receive more freedom, spending the funds at any time and in any amount. 

 

VTB Bank (Armenia) joined VTB Group in April 2004 and is fully owned by VTB Group, the second biggest bank in Russia. VTB Bank (Armenia) is one of the leaders of Armenia's banking sector. It has the largest branch network in Armenia.