OREANDA-NEWS. December 25, 2013. Sviaz-Bank has tallied the tentative performance results of its seasonal Champion time deposit product. In the time period beginning on November 1, 2013, over a billion rubles has been accepted on deposit from individuals.

“Seasonal deposits are a tradition for our deposit line, and they are always in high demand among customers. Seasonal deposits attract many times more funds than customary deposits do,” said Olga Oleinik, Vice Chair of the Bank’s Management Board. “Both customers and the Bank certainly have a lot to gain from them. We expect to collect over 3 billion rubles into Champion deposits until the end of February.”

There is still time to open a deposit account until February 28, 2014 with a Bank office or through the Megapay Internet banking system, and timing will make a difference in the interest paid on the deposit. If a deposit account is opened for a year, the effective interest rate payable on the deposit may reach 9.06% per annum, or 11% per annum if money is deposited for five years. If a deposit account is opened through the Internet bank, the effective interest rate will rise to 9.38% per annum on a one-year deposit, and to 11.47%, on a five-year deposit.