OREANDA-NEWS. October 16, 2008. VAB Bank product line was updated by the new Progressive Deposit scheme effective 10 October 2008, reported the press-centre of VAB Bank.

According to Anton Shaperenkov, head of VAB Bank department for retail business products development, the main advantage of the Progressive Deposit is the guaranteed monthly increase of a deposit interest rate.

Progressive Deposit could be placed for 3, 6, or 12 months in hrivnias, US dollars, or euros.

Interest rates in this deposit scheme vary depending on the amount deposited and the deposit term.  The maximum rate offered is 22.25% yearly; interest is paid at deposit maturity.  Minimum deposit amount is 500 hrivnias or 100 US dollars/euros.