YEREVAN, November 2. /ARKA/. On the occasion of World Savings Day, marked on October 31 every year, VTB (Armenia) has improved deposit terms for the population, the press service of the bank announced today.

It said depending on the period of placement, the maximum interest rate on deposits in AMD has been raised by 0.5 percentage points to 10.5%.

For deposits in Russian rubles, the rate has been raised by 3 percentage points to 5.5%. The rise applies to deposits called "Profitable" and "Progressive."

Retail customers can conclude contracts for deposits "Profitable" in Armenian drams for a period from 30 days to 2 years with the maximuminterest rate of up to 10.5% and up to 5.5% interest rate in Russian rubles.

The minimum deposit amount is AMD 100 thousand or RUB 10 thousand, with interest accrued at the end of the deposit period. Replenishment and partial withdrawal are not allowed. This new offer is valid until November 15 this year.

The maximum rate of return on the deposit "Progressive" in AMD has been raised to 9.22% per annum, in Russian rubles - to 4.87%. Opening the deposit with the possibility of replenishment is available from AMD 30 thousand or RUB 5 thousand for the period from 30 days to 2 years.

"Today, against the backdrop of the double-digit key rate of the Central Bank of Armenia, the demand for savings products is still high. Taking into account the needs of depositors, we decided to improve the terms on two most popular time deposits, which can be drawn up with maximum profit in AMD and Russian rubles. At the moment, the share of deposits in these currencies exceeds 90% of all deposits in foreign currencies. Deposits in AMD are placed at above-market rate," says Hayk Gevorkyan, Deputy Director for Retail Business Development at VTB (Armenia).

Individual customers of VTB (Armenia) can open and replenish their deposits both at the bank branches and remotely through the video banking service.

All deposits are guaranteed by the Deposit Insurance Fund. The income tax on deposit interest is 10%.

For more information on deposits, please visit the official website of VTB (Armenia), bank branches or call 87-87.

 VTB Bank (Armenia) CJSC is regulated by the Central Bank of Armenia. -0-