OREANDA-NEWS. September 30, 2009. A new Weekly Deposit product was introduced by VAB Bank. The product provides for ongoing control of cash balance and high deposit income, reported the press-centre of VAB Bank.

Deposit minimum amount is UAH 100 (or US or EUR 10).  Placement time is one week with automatic weekly renewal for up to 26 weeks.  The Bank offers higher-then-usual interest rates that depend on a deposit term: maximum interest premium – 15% on top of a standard rate for a Hrivnia deposit – is seen on the 26th week.

VAB Bank Deputy Chair for Retail Business Mr Tsvetan Petrinin commented, “Weekly deposit was introduced within the framework of our Bank’s customer-oriented policy.  Attractive terms offered under this product give clients a choice to either withdraw money after seven days or extend the deposit for another term.  Clients who choose to continue their relationships with the Bank on a long-term basis are guaranteed higher interest rate.”