OREANDA-NEWS. July 29, 2011. In H111 Uniastrum saw the overall value of its time deposits increase by Rb 4.5 bn. The Bank’s retail deposit portfolio is dominated by funds invested for up to one year. In the reporting period deposits ranging from Rb 600-700 expanded at a particularly fast rate. Since year-start 2011 the number of newly opened accounts has grown apace. Ruble-denominated deposits accounted for 87% of the total, up 2.75% on January 1, 2011, with dollar and euro accounts amounting to 7.5% and 5.9%, respectively, reported the press-centre of Uniastrum Bank.

Uniastrum’s most popular retail deposit product is its 1-year “Big Interest” account, available in rubles, dollars, and euros, which carries a conspicuous advantage in that it guarantees a return even if the account holder opts for early closure. In such cases, calculation of the rate of interest depends on how long the customer’s funds actually remained in the account. The maximum rate for ruble deposits is 10% APR, and 5.5% APR for those in foreign currency. Anyone opening a time deposit account with Uniastrum automatically receives a debit card under the Bank’s “U-Pay Deposit” program. For further details and to apply online, visit www.uniastrum.ru/personal/savings/deposits/big/.

“Whereas it’s true that since the start of this year Russian banks have witnessed a sustained uptrend in the value of household deposits, Uniastrum’s results have nevertheless outstripped the market,” notes Vasily Kuznetsov, Deputy Chairman of the Bank’s Management Board. “Our success in this area is thanks to our high-quality service, competitive rates, and our wide range of deposit options, which have been specially designed to cater to a diverse clientele. The upturn in the number of new depositors and the overall value of deposits made by existing customers is testimony to the high level of public trust placed in Uniastrum Bank.”