OREANDA-NEWS. As the European Central Bank cut the basic interest rate on 2 April, Ukio bankas, too, changes interest rates on deposits in the Litas, euros, US dollars and pounds sterling from 6 April, reported the press-centre of Ukio bankas.

Ukio bankas reduced interest on deposits in euros from 0.2 to 0.4 percent. 3-month time deposits in euros will yield 7.3 percent in annual interest. For deposits with a 3-month maturity the Bank will pay 7.5 percent in annual interest. Private and corporate clients placing time deposits in euros for a 12-month or longer period will be paid the interest of 8 percent.

The biggest decrease is in interest on deposits in US dollars. From now on, interest on deposits in US dollars will reach from 5.3 (1 to 4 months) to 6 percent (12-month and longer maturity). For deposits with a 6-month maturity the Bank pays 5.5 percent in annual interest.

Ukio bankas interest on time deposits in the Litas decrease from 0.1 to 0.3 percent or does not change. Private and corporate clients placing time deposits for a 12-month and longer period will be paid the interest of 10 percent. The Bank will 9.5 percent in annual interest on deposits placed for a 6-month term. Interest for private and corporate clients placing time deposits for a 1- or 3-month term has not changed and reaches 9.10 and 9.3 percent, respectively.

The maximal annual interest rate for private and corporate clients having placed deposits in pounds sterling reaches 8 percent, the minimal – 7.3 percent.

“Even though considering market tendencies Ukio bankas cuts interest rates, the Bank’s interest still remains one of the highest in the market,” Balanda Bradulskiene, director of Ukio bankas Product Development Department, said. “Interest on deposits can also be increased during various campaigns held by the Bank. Those who place deposits during the deposit campaign organised by the Bank will receive interest not only on the principal deposit but also on accrued monthly interest. In addition, higher interest will be paid to those who place deposits via the internet banking system Eta bankas.”

Time deposits placed via the internet banking system Eta bankas will yield from 0.1 to 0.2 percent higher interest. Interest on 1-12 month time deposits increases 0.1 percent, and that on 12-month and longer term deposits – 0.2 higher annual interest.

Ukio bankas revises interest on time deposits on a weekly basis. Last time the Bank changed interest in February.