OREANDA-NEWS. October 30, 2012. Thanks to the higher rates of interest accruable on cardholder accounts, Uniastrum’s new products, Standard, Corporative, Trusted Partner, Exclusive, and Express, combine the functions of credit and interest-earning cards, allowing customers to save and accumulate money while also using the credited funds, reported the press-centre of Uniastrum.

Customers applying for a card under, say, Uniastrum’s Standard program simply have to place funds on the card and every month the Bank will pay them income on the positive balance, ranging up to 8% APR for ruble accounts and up to 4% APR for those in foreign currency, regardless of the card category. If a cardholder needs to borrow cash, he/she can take out as much as Rb 1mn, enjoying an interest-free grace period of up to 55 days into the bargain. Once the grace period ends, the interest charged on the account is upwards of 19.9% APR.

“Our new credit/interest-earning cards work simultaneously as a purse, which holders can use to pay for purchases and so forth, and as a safe allowing them to store their money safely and guard against inflation – in other words, they function as a type of deposit,” notes Susanna Uzunyan, Head of Uniastrum’s Retail Products Division. “I have every confidence that our new offer will make for even better customer loyalty. After all, Uniastrum Bank cards now also function as an income-generating product.”