OREANDA-NEWS. September 10, 2012. Sberbank of Russia OJSC has announced the following changes in its line of retail term deposits:

Extending the term for opening an UP TO THE PAR deposit until October 31, 2012 (inclusive)

Increasing the bonus rate on ruble-denominated deposits opened at Sberbank Online (Save Online, Add Online and Manage Online) relative to the rates on basic line of deposits (Save, Add and Manage). The bonus rate is increasing from +0.3% to +0.5% per annum.

In addition, in September 2012, Sberbank of Russia OJSC is expanding the opportunities of customers to manage their deposits: Self-Service Terminals will provide an Opening Deposits option (customers will be able to open Online Deposits with bonus rate and Savings Accounts). This new opportunity will be available to the customers of Moskovsky Bank of Sberbank of Russia.

Sberbank of Russia OJSC is increasing the rates on its savings certificates by 0.25%-0.75%, as well as canceling the fee for accepting savings certificates for safekeeping.

A Sberbank of Russia savings certificate is a bearer security that certifies the amount deposited in the bank and the right of the depositor to receive the amount of deposit and interest following the expiration of the established term. A savings certificate provides the maximum guaranteed return among the bank's basic line of deposits.

"In the past six months, we have done a lot to improve the attractiveness of savings certificates, which even without it possess a unique range of features that are not available for deposits. It is not surprising that over this period the retail investments in savings deposits have soared more than 10-fold. The increase of interest rates and cancellation of fees on the safekeeping of certificates, which fully eliminates for the customer the risk of losing certificate, makes them even more attractive and will give further impetus to their development", said Dmitry Oguryaev, Director of the Department of Retail Deposits and Investment Products.

More details on the above changes are available on the bank’s official website at: http://sberbank.ru/moscow/ru/person/contributions/