OREANDA-NEWS. November 16, 2012. Sviaz-Bank has been accepting funds from customers into the Rastushchiy rezerv (Growing Reserve) time deposit that pays an interest of up to 12% per annum, one of the best bargains available on the market, reported the press-centre of Sviaz-Bank.

The principal advantages of the new deposit include an interest rate rising every three months and the possibility of early withdrawal of the deposit funds without loss of interest.

A deposit agreement is made for a term of one year (12 months) in Russian rubles starting with a minimum amount of 5,000 rubles. The deposit time is split into four periods. The interest rate payable on the deposit funds grows from period to period, beginning at 7% in the first period (three months) to 12% in the fourth period. A depositor will have his funds rising by 8% after six months on deposit, and by 10% after nine months.

Interest is paid at the end of each three-month period and can be capitalized. The deposit time cannot be extended, the deposit funds cannot be increased, and no part of the deposit can be withdrawn until the agreement expiry date.

If the deposit funds are withdrawn before the expiry date, the interest accruing for a full period is paid in full, or paid at the rate of the demand deposit if withdrawn before the end of any period.

Growing Reserve time deposits are accepted on more favorable terms than the standard Reserve line of bank deposits.