OREANDA-NEWS. April 09, 2013. Sviaz-Bank will offer its customers a new Global’noye potepleniye (Global Warming) seasonal time deposit account. This deposit has more favorable terms than the standard line of bank deposits.

Depending on the size of deposits, interest rates vary from 9% to 10.15% per annum, and monthly deposit interest capitalization can raise the customer’s income to 11.2% per annum.

A Global Warming deposit account can be opened in Russian rubles for a term of 730 days, and can be closed before expiry at no loss of interest income. The deposit has a minimum amount of 5,000 rubles. Deposits will be accepted from March 27 to June 18, 2013.

A deposit can be increased during the first year of the account without any restrictions. Interest is paid and capitalized every month, adding significantly to the deposit yield.

Where the deposit agreement is terminated by the depositor during its first year, interest payable on it will be downgraded to that payable on demand deposits, and where the deposit is terminated in the second year, it will be 7% per annum.

According to Alexei Bakhayev, Director of Sviaz-Bank’s Retail Banking Products Department, bank deposits are still the most popular financial instruments to Russians, and enjoy great demand. “Now is the right time to open a seasonal deposit account paying high interest rates,” he said.