Friday, March 20 2015 16:49

VTB Bank (Armenia) offers special terms for recurring deposits


ArmInfo. VTB Bank (Armenia) offers special terms for opening of recurring deposits "VTB-Targeted" and "VTB-Dram"

According to the VTB Bank (Armenia) press-office, the customers that will open the given deposits will enjoy also Internet-banking service free of charge. This will enable the customers to use the bank's services online (replenish deposits, make money transfers, pay for public services, redeem loans, fill application for opening of deposits and much more). In addition, the depositors will be provided with a multi-currency plastic card Visa International free of charge.

The lower limit of VTB-Dram deposit is 30,000 drams at the maximum annual interest of 17%, while VTB- Targeted deposit starts from 10,000 drams at the maximum annual interest of 16.25%. Details on deposits are available in the section "Time Deposits" on the Bank website: www.vtb.am. It is noteworthy that upward trends in deposit rates in Armenia started at the end of 2014. ProCredit Bank increased the interests on time deposits in the national current to 16%-18% in December. Anelik Bank, in turn, introduced Dram+ deposit at the annual interest of 16%-16.25% in January. Later, in February, Areximbank- GPB-Group introduced Classic Plus deposit at the annual interest of 15%-17%. All the three deposits are short- term (1-6 months).

According to ArmInfo's Financial Rating of Armenian Banks as of Jan 1 2015, VTB Bank (Armenia) is among top five banks in terms of time deposits -101.8 billion drams and among top-three banks in terms of personal time deposits.

VTB Bank Armenia is part of VTB Group (100pct share). It has the country's biggest branch network - 69 branches.
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