OREANDA-NEWS. April 13, 2012. Sviaz-Bank has launched two new deposit accounts, Sberegatel’ny Plyus (Savings Plus) and Upravlyaemy Plyus (Managed Plus), for individuals who can close them without forfeiting interest. Sviaz-Bank’s new deposit accounts are different from common practice because they offer depositors an opportunity to withdraw funds before the deposit contract expires at the initial interest rate beginning with the second year of the contract, and have a flexible interest rate*, reported the press-centre of Sviaz-Bank.

The Savings Plus deposit account can be opened with a low down payment of at least 5,000rubles, the deposit term can be extended, and interest is capitalized. Interest is paid at the end of each year. In the first year of deposit, interest varies between 8.5% and 10% per annum, depending on the sum deposited.

A Managed Plus deposit account can be opened at a starting sum of 15,000 rubles. An opportunity is offered to depositors for adding funds to, and withdrawing them from, the deposit account, which makes this product still more flexible and convenient for budget planning. Interest accrues and is paid every month. In the first year of the account, interest varies between 7.5% and 7.9% per annum, depending on the threshold balance specified.

“We have offered a new and modern deposit product to our customers and pay the same interest at deposit termination as the interest we pay on the deposit itself, which is a unique and unprecedented offer in the market,” said Maria Zenina, Director of Sviaz-Bank’s Retail Banking Products Department. “We are confident that the new deposit options in our line of products will enjoy high demand with the customers.”

*A contract is made for five years. The interest rate is fixed in the first year, and from the second year on, interest is linked to the current discount rate of the Bank of Russia. When the contract is terminated after the second year, interest will be paid to the customer for the period his funds have actually been on deposit.