YEREVAN, October 22. /ARKA/. VTB Bank (Armenia) offers accumulation accounts with an 8% interest rate, the bank reported on Thursday in its news release.

The accumulation account allows depositors to accumulate money for any long-term purposes. The depositors having money on such accounts enjoy interests and may use their accumulated money at any moment without losing the accumulated interests.

According to the news release, clients need to put on their account at least AMD 10,000 as first deposit, and if a client preserves no less than AMD 10,000 on his/her accumulation account every day of the current month, then no monthly commission will be taken for servicing the account. Otherwise, AMD 390 will be taken as monthly fee.

If there is less than AMD 10,000 on the account, average monthly balance is 0.01%, if the amount exceeds AMD 10,001 but is less than AMD 100,000, then average monthly balance is 7% and if it more than AMD 100,000, the average balance is 8%. Interests are coming to the account every month.

Depositors may replenish their account or withdraw money whenever they want (a remarkable advantage, compared with other types of deposits). A higher yield than at banking accounts is also among the offered advantages.

The accumulation account also gives an opportunity for distant accumulation from salaries, transfers etc.
Very few papers are needed for opening the account.

A free Internet banking service is provided to every client who opens the accumulation account. The service allows accumulating money without visiting the bank.

The account may be replenished also via 1,200 TelCell payment terminals in Yerevan and provinces.
More detailed information may be received by visiting the bank's official website or any of the bank's branches. One can also call 87-87 to get information by phone.

VTB Bank Armenia (Armenian Savings Bank before June 2006) joined VTB Group in April 2004. VTB, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia). VTB Bank (Armenia) has 67 branches all over Armenia’s territory - the largest branch network in the country. VTB Bank (Armenia) is reckoned among leaders for general indicators. ----0---