Severnaya Kazna lowers deposit interest rates

According to the bank’s official report, Severnaya Kazna lowered the interest rates on deposits at call: the Golden Ladder deposit now yields 7.5% to 10.5% a year (or 1.5% to 2.5% less than it used to), the foreign currency deposits will bring .5% to 1% less profit (the annual interest rate on dollar accounts now comes to 6%-8.5%, that on euro accounts amounts to 5% to 7.5%, depending on the amount of money placed and the amount of time the money is kept with the bank). The one-year-long Premium deposit offers the interest of 5% a year, or 5% less than before; if you’d like to invest your dollars or euros, the interest rate on the Premium deposit will come to 4%, or 4% less than before, and to 3%, or 3% less than before, respectively.

As regards the Russian Roller Coasters deposit schemes (both one- and two-year ones), the annual interest rate amounts to 8.5% to 9% for rubles (2% to 2.5% less than until recently), to 7%-7.5% for dollars, and to 6%-6.5% for euros, respectively. The lower investment limit is set at 100,000 RUR, 3,000 USD, or 3,000 EUR.

The Rentier deposit scheme will now yield 10.5% to 10.75% of profits a year, or 1.5% to 1.75% less than it used to (as far as rubles are concerned); the figures come to 8.5% to 9% for dollars, and to 7.5% to 8% for euros, or .5% less than before.

The last time Severnaya Kazna cut back on interest rates was in August 2006.

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