OREANDA-NEWS. October 29, 2014. Sviaz-Bank’s portfolio of time deposits it has accepted from individuals has topped 30 billion rubles.

The portfolio has grown by over 7 billion rubles since January 1, 2014, registering an increase of more than 30% since the year beginning, which compares favorably with a low 2% increase in the amount of time deposits in the Russian banking system as a whole over the same period (according to reports of the Bank of Russia).

In the middle of October, the Bank raised interest rates by an average 1.5% on several of the deposits placed with Sviaz-Bank, in particular, on deposits (Savings Reserve, Savings Plus, Classic Collection, and Multi-Reserve) placed with the Bank for three, six, and 12 months without the right of increases and partial withdrawals, with interest paid at the end of the deposit period. From now on, the maximum interest rate payable on standard deposits placed in rubles by individuals for one year through the Megapay Internet banking system reaches 11.25%, and 11.5% on the Classic Collection deposit accounts opened by affluent customers.

“The year 2014 has been a bonanza year for us – our portfolio of deposits has grown significantly in comparison with other banks. Our depositors continue to put confidence in us, and we, in turn, offer them to accept their funds on deposit on more favorable terms,” said Olga Oleinik, Vice Chair of Sviaz-Bank’s Management Board.