VTB Bank (Armenia) offers its customers to independently complete their own deposits by choosing the relevant deposit parameters such as period, currency, interest frequency, etc. The press office of the Bank has told ArmInfo that the annual interest rate will depend of the deposit composition.
One of the key advantages is the wide choice of alternatives in the interest frequency: at the moment of opening the deposit, monthly with/ without capitalization of interest, at the end of the deposit period. There is also an opportunity to preserve the accumulated interest in case of early termination of the deposit agreement.
The deposits can be opened for a period ranging from 30 to 730 days in different currencies at the following interest rates: 17.5% for AMD deposits, 11% for RUR deposits, 6.5% for USD deposits and 5.75% for EUR deposits. VTB Bank (Armenia) also gives privileges to its loyal customers (+0.25% to the AMD deposit rates), as well as to the internet banking users, recipients of instant money transfers, pensioners of social services and force structures, as well as to the depositors who increase the amount of the deposit by 50% when prolonging the period of the deposit.
In addition, VTB Bank (Armenia) has a product range for certain segments, for instance, a special deposit "VTB-Social" for the pensioners of social service and force structures, a "VTB-Childhood" deposit for children, a "VTB-National" deposit for the non-residents with a convenient mechanism to manage the deposit from abroad. The Bank also presents the depositors with VISA or MasterCards.
The details about the minimum initial contribution and other details are available at www.vtb.am.
According to the Financing Rating of Armenian Banks by the Agency of Rating Marketing Information (ArmInfo), as of 1 Jan 2015, VTB Bank
(Armenia) was among the TOP-5 in terms of time deposits with 101.8 bln AMD and among the TOP-3 in terms of personal time deposits.
VTB Bank (Armenia) joined VTB Group in April 2004 and is fully owned by VTB Group, the second biggest bank in Russia. VTB Bank (Armenia)
is one of the leaders of Armenia's banking sector. It has 67 branches all over the country (the largest branch network in Armenia).