OREANDA-NEWS. March 27, 2009. Sviaz-Bank has raised the interest rates it pays on time deposit accounts opened by individuals at offices of the Post of Russia Federal State Unitary Enterprise (FSUE), with a maximum rate reaching up to 14.50% per annum, reported the press-centre of Sviaz-Bank.

Interest rates on Pochtovy Sberegatelny (Save by Post) deposit accounts vary between 12.75% and 14.50% per annum. These deposits are accepted in rubles for terms of six months to three years. The minimum amount required for an account to be opened is 5,000 rubles, and no additions can be made. Interest is paid at the end of the account term.

Interest rates payable on Pochtovy Nakopitelny (Accumulate by Post) deposit accounts range from 12.25% to 13.75% per annum, depending on deposit term. Accounts paying and capitalizing interest every quarter can be opened, and built up, in rubles for terms of 181, 367, or 720 days. At least 1,000 rubles is required to be deposited in an account.

Funds deposited in Pochtovy Pensionny Plyus (Pension Plus) by Post accounts will carry an interest of 5.25% per annum for the account holders. Deposits are accepted in rubles for a term of 367 days, and, under the deposit conditions, funds can be added to, or withdrawn from, the account without loss of interest. Interest is calculated and capitalized every quarter. No less than 500 rubles is accepted on deposit.

Irina Busheva, Vice Chair of Sviaz-Bank’s Management Board, says there is a significant influx of funds to be placed on deposit these days, and the total balance in individual accounts has reached over 5.5 billion rubles. “Next in our plans is building up liabilities significantly by, among other approaches, offering competitive interest rates,” Ms. Busheva emphasized.