OREANDA-NEWS. November 07, 2011. Deposits profitability increased by 1-2 percentage points for up to 17-18% per annum depending on the type and term of deposit.

From November 3, 2011, Piraeus Bank in Ukraine offers its customers the higher rates for all types of deposits in hryvna:
“STANDARD” deposit with payment of interests every month or at the end of the fixed term for a tenor of 1 to 12 months in hryvna - up to 16.5% per annum.
Deposit "TAKE IT HIGHER" with monthly growing rate and possibility of early withdrawal with preservation of accrued interest. Deposits can be placed for a tenor of 3 to 12 months. The rate for placing a deposit for 12 months is 12.5% per annum for the first month and 18% for the last month
Deposit 'INTEREST UPFRONT" with interest payment in advance in the day of the deposit agreement conclusion, for a tenor of 3 months (with interest rate 13% per annum) and 6 months (with interest rate 14% per annum)
"PENSION" deposit with interest rate that is 0.5% higher than interest rate for standard deposits and payment of interests every month or at the end of the deposit term, with tenor from 1 to 12 months and interest rate up to 17% per annum

The bank has also increased interest rates on savings accounts in hryvna. Now, customers can place their surplus funds on accounts "Free access" with interest rate of 8% per annum (interest is calculated monthly on the account’s balance) and “Free” with interest rate of 9% per annum.

"Following the market trends, in October 2011Piraeus Bank, as well as many other players on the banking market, has revised the interest rates on deposit products towards their increase. At present, the profitability of our deposit products is generally competitive, but in comparison with many foreign banks we have one of the best offers on the market. These actions correspond to the bank’s strategic goals till the end of this year - an active increase of the loan portfolio and deposit resource base, primarily due to the work with individuals,"- Alexander Gnilenko, Piraeus Bank in Ukraine deputy director of retail business Piraeus Bank in Ukraine, said .