OREANDA-NEWS. March 07, 2012. Uniastrum customers continue to show a marked preference for the Bank’s Big Interest program, which allows them to deposit funds of Rb 50,000-Rb 100 mn or the dollar/euro equivalent for up to one year, reported the press-centre of Uniastrum Bank.

For ruble depositors, Big Interest offers a maximum return of 11% APR, and 5.75% APR for customers with foreign currency accounts*. One of Big Interest’s more conspicuous benefits is that it guarantees a return even if the account holder opts to close his or her account early, in which case the amount of interest accrued is calculated using a rate dependent on the actual deposit period. For more details of terms and conditions, and to apply to open an account online, visit http://www.uniastrum.ru/personal/savings/deposits/big/.

Figures released by RosBusinessConsulting news agency show that as of January 1, 2012, Uniastrum is Russia’s 33rd biggest bank by retail deposit volume, up two places on the prior-year result. In 2011 the Bank’s retail time deposit portfolio expanded 27.5% to Rb 32.4 bn as of year-start 2012. Meantime, the number of customers choosing to deposit their funds with Uniastrum grew 16.7%. Equally encouraging is the fact that the vast majority of depositors remain with the Bank once their initial deposit agreement expires, opting to extend their agreement or transfer their money to another account. Last year more than 90% renewed their deposits, which testifies to the high level of public confidence in Uniastrum.

“The impressive number of deposit renewals that we achieved in 2011 says much about our customers’ confidence and is the best testimonial that we could wish for,” says Vasily Kuznetsov, Deputy Chairman of Uniastrum’s Management Board. “We value our customers’ loyalty and invite them to deposit their funds with us for even better returns”.

* Loyal customers are defined as:
depositors renewing accounts, including accounts to which funds are added;
deposits already held with the Bank (in such cases, the deposit balance is held in current accounts and/or demand accounts);

deposits already held with the Bank and funds drawn from them without closing the account.

* The interest rates cited apply to Big Interest deposit accounts opened between November 18, 2011 and March 19, 2012 ranging from Rb 10,000 (minimum deposit) to Rb 100 mn (maximum deposit) for 365 days by customers opting to rollover existing deposits, including those wishing to add funds to their accounts, by customers already holding deposits with the Bank (in such cases, the deposit balance is held in current accounts and/or demand accounts), as well as by customers holding a Uniastrum deposit from which they have withdrawn funds but not closed the account. Interest on accounts closed prior to maturity shall be calculated for the actual deposit period: 1-60 days: 2.4% APR, 61-90 days: 4% APR, 91-180 days: 9% APR, 181-270 days: 9% APR, 271-365 days: 10.5% APR. Interest is paid after 365 days, i.e. on maturity. Once placed, the deposited funds may not be added to and doing so shall result in the termination of the Deposit Agreement. Partial withdrawals are permitted on the proviso that the amount of funds held on the account do not fall below the permissible minimum; failure to comply with this provision shall result in the early termination of the Agreement. In the event that the Agreement is terminated as a result of the foregoing instances, interest accrued shall be calculated in accordance with the actual deposit amount and based on the Bank’s call deposit rate applicable on the day on which the Agreement is terminated. Unless the deposit holder notifies the Bank of his/her wish to close the account, the deposit shall be automatically renewed. UNIASTRUM BANK LLC, CBR General Banking License No. 2771. This information correct as of February 29, 2012.