OREANDA-NEWS. July 25, 2008. The Private Banking Department of the Bank of Moscow has announced the launch of a new product — "Investment deposit with pegged yield". The investment deposit has a floating interest rate that varies depending on the RTS index or the price of non-cash gold on the international precious metals market(XAU/ USD Spot).

The maximum return on the given deposit is 20% per annum. Meanwhile, the Private Banking Department of the Bank of Moscow guarantees invested capital retention and interest at the call rate irrespective of the situation on the foreign or domestic markets.

The term of the deposits is 180 and 365 days and the minimum sum of the Investment deposit tied to the RTS index is 2.5 million roubles. In the event that the deposit depends on the gold price, the minimum investment is 100 thousand US dollars.

"Our analysts predict a target RTS index at the end of 2008 of 2605 points", says Dmitriy Breitenbikher, Managing Director of the Private Banking Department of the Bank of Moscow. "This means that the potential growth of the index by the end of the year is currently over 20% (or 40% per annum). As for the deposit in US dollars, today many people fear the risk of a drop in the dollar exchange rate. At the same time, it should be noted that a quite b correlation can be observed at the moment between the fall in the dollar and the rise in the price of gold, so clients wishing to hold currency assets can hedge the risk of a possible drop in the dollar exchange rate".