OREANDA-NEWS. February 9, 2009. The Bank of Moscow has raised the interest rate on the "New Pension" in Russian roubles for a term of 181 days to 1.5 years. On average, depending on the deposit term, the rates have risen by 150 b.p. The yield on the deposit is from 8.5% to 11.1% per annum in roubles.

"The deposit is intended for pensioners, so the minimum "New Pension" deposit sum is only 3 thousand roubles, 100 US dollars or 100 Euros", notes Alla Tsytovich, Managing Director of Retail Business Unit of the Bank of Moscow. "The "New Pension" deposit permits regular contributions of small sums for saving purposes."