YEREVAN, March 10. /ARKA/. VTB Bank (Armenia) announced today a rise in the interest rates on individuals’ savings accounts ‘Favorable’ and ‘Progressive’ deposited in Armenian drams.

According to the press service of the bank, the maximum annual interest yield on a savings account is 13.49%.

It said until April 10, the bank's clients can apply for ‘Favorable’ savings account in AMD for a period of three months at the rate of up to 13%. When opening a savings account for a year, the percentage yield will be 11.97%. The minimum deposit amount is AMD 100,000. Replenishment and partial withdrawal of funds are not provided for, the bank said.

The maximum annual yield on the ‘Progressive’ savings account will increase to 11.33% for deposits placed for a period of three months. When placing funds for a year, the yield will be 9.97%. The minimum placement amount is AMD 30,000. The deposit provides for the possibility of replenishment․ Income tax on interest on deposits is 10%.

Individual clients can place and replenish deposits both in the bank's branches and by using remote channels DIRECT Chat Bank, Mobile Bank and Video Banking.

VTB Bank (Armenia) fulfills all obligations for the accrual and payment of interest, as well as the issuance of funds from customer accounts. All deposits are guaranteed by the Deposit Insurance Fund.

Detailed information about current deposits can be found on the official website of VTB (Armenia), at the bank's branches or by calling the Contact Center at 87-87.

The activities of VTB Bank CJSC (Armenia) are regulated by the Central Bank of Armenia ($1 - 512.41 drams). -0-