YEREVAN, June 3. / ARKA /. The Russian-owned Bank VTB (Armenia) has announced a special deposit offer called VTB-Childhood saying it was prompted by the International Children's Day marked on June 1.

The offer will be effective from June 1 to June 30, 2011 and according to a bank press release, it offers improved terms. Particularly, deposits are accepted for a period of 1 to 15 years (instead of the previous 5 years) with a 10.5% annual interest rate for deposits in Armenia’s national currency, the dram (instead of 9%). Deposits are accepted in AMD, USD and Euro and the minimum initial deposit amount is 30.000 drams, or 100 euros or US dollars.

"We know that all parents want to secure a better future for their children and a bank deposit is a best option to do so. The main advantage of VTB-Childhood deposit is that clients are given the opportunity to accumulate funds for their children, which later can be used for payment of their university studies,’ VTB Bank (Armenia) CEO Valery Ovsyannikov was quoted as saying. For detailed information clients can visit www.vtb.am or call 87-87.

Bank VTB (Armenia) is owned by Russian Bank VTB. It has 68 branches across Armenia, 24 in Yerevan and 44 outside it. It also operates 59 ATMs and 400 POS terminals. -0-