OREANDA-NEWS. July 03, 2014. The rankings published by the Banki.ru portal place Sviaz-Bank fifth in the growth of individual deposits among the Top100 banks in May 2014.

The total amount of deposits placed by individuals with Sviaz-Bank in May rose by 5.6%, or by 1.7billion rubles, while the amount of deposits collected by the Russian banking system from individuals in May 2014 dipped by 0.28%.

The amount of deposits accepted by Sviaz-Bank from individuals roses as a result of, among other reasons, Sviaz-Bank’s vigorous deposit policy, its long line of products, improvements in deposit collection terms, and higher interest rates paid on deposits by Sviaz-Bank in comparison to market averages. In particular, the Bank collected 800 million rubles into seasonal Champion deposits in May.

Besides, beginning on June 4, the Bank raised interest rates on time deposits in Russian rubles. Today, the maximum interest rate in rubles is paid at 10% per annum (on Classic Collection deposits) if a deposit account is opened with the Internet bank.

On average, interest rates payable on several types of deposits increased by 0.5 pp, enabling the Bank to make plans for boosting the influx of funds from individuals into deposits with the Bank.