OREANDA-NEWS. November 3, 2011. Sviaz-Bank has raised the base interest rates it pays on the Add-On time deposits accepted from corporate and self-employed customers.

The base interest rates have gone up by between 0.97 and 1.07 percentage points depending on the amount deposited and term of deposit.

The Add-On (Popolnyaemy) deposit is used by customers to save their spare money for a period of six months to a year and increase or spend some of their savings during the full term of the deposit. Deposits are accepted starting with a minimum of 1 million rubles or USD 30,000 (25,000 euros). The interest rate payable on the deposits depends directly on the interest rate of the financial market indicator (MosPrime1М for deposits made in rubles and LIBOR1M for other currencies).

“The Add-On deposits offers advantages over other deposit products for its flexible interest rates that vary with changes in the market and opportunities customers have to increase or spend the money on deposit, which makes it very attractive to our corporate customers,” said Olga Oleinik, Vice Chair of Sviaz-Bank’s Management Board. “Placing money in a bank is now still more profitable for organizations differing in the size of their earnings and spending needs.”