OREANDA-NEWS. On October 15, 2008 Friendship Makes Rich, the new campaign aimed to attract cash from private individuals, started at VAB Bank. This new programme offers depositors up to 0.5% on top of interest rate for any opened deposit, reported the press-centre of VAB Bank.

The programme is open for both existing clients and the new ones.  An applicant wishing to participate in the campaign will receive two invitation cards from our financial guide, to be offered to their friends or relatives.  If any of these cards is used to open a special deposit on terms offered by the programme at the bank office where they were received interest rate on the applicant’s deposit will go up 0.25% yearly per each of the cards.  Accordingly, the maximum mark-up on the interest rate could be 0.5% yearly.

Oleg Balan, head of the retail business products planning, monitoring and analysis unit under the VAB Bank department for retail business products development said commenting on the new programme that it was designed as an expression of the bank’s loyalty to its existing and new clients.  “We offer our clients not just attractive rates for deposits or an opportunity to upgrade them by 0.5% but, which is more important, utmost security of deposited cash,” Oleg Balan highlighted.

The Friendship Makes Rich programme applies to the Accumulation Deposit and the Time Deposit made for 6 months and above and for the amounts between 5,000 and 50,000 hrivnias (or their equivalents in another currency).  

We are pleased to remind that the Accumulation Deposit offers an opportunity to place your cash for 13 or 18 months with automatic extension for the same period and unlimited number of extensions allowed.  Deposit yield is up to 18.58% yearly in hrivnia, up to 12.72% in US dollars, and up to 11.44% in euros.  Interest is disbursed either at deposit maturity or monthly, as simple interest on a monthly basis and composite interest at deposit expiry.  The deposit could be made up throughout its period, yet no later than 6 months before maturity.

The Time Deposit offers a variety of periods: 3, 6, 12 or 24 months, and may be extended for a similar period with unlimited number of extensions allowed.  Its yield is up to 18.75% in hrivnia, 12.75% in US dollars and up to 11.75% in euros.  Interest is disbursed either at deposit maturity or monthly.