VTB (Azerbaijan) raises rates on the main line of deposits in manats. On average, the growth will be 4.5 percentage points, and the maximum rate will be 11% per annum. From August 25, the conditions will change for the Profitable, Target and Advance products, from August 28 - for the savings account.
The largest increase in rates - by 4.5 p.p. - marked with such types as "Favorable", "Target" and "Advance". On the Profitable deposit, the maximum rate reached 11% per annum for a period of 3 to 36 months and with an amount of placement from 100 manats. Similar conditions apply to the Target product with a yield of up to 10.75% and the possibility of replenishment and early withdrawal. The "Advance" deposit makes it possible to earn up to 10.5% per year. The savings account yields 10% per annum. The account is perpetual, and it can be opened from 0.01 manat.
“Today, for the population, deposits in the national currency are the main way to place free funds. In addition, this savings instrument guarantees a high income and protection against inflation, and its credibility is only increasing. We are closely monitoring market conditions and the actions of other players in the banking sector, and have decided to adjust our rates in order to offer our customers some of the most favorable conditions. Currently, the maximum yield on our deposit products in manats is 11% per annum,” commented Evgeny Borodin, member of the board, director of the retail business development department at VTB (Azerbaijan).
Interest on deposits is calculated monthly or at the end of the deposit term, depending on the product chosen. Accrued interest customers can transfer to a bank card or current account and use for any purpose.
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