UBRD raises interest rates on ATM-linked deposits

The Ural Bank for Reconstruction and Development raised the interest rates on deposits that have to be opened and topped up through the bank’s ATMs on December 25, 2008. The increase involved the entire range of these deposit types and came to 2% for ruble deposits and to 1% for foreign currency ones.

The bank introduced these ATM-linked deposit schemes over a year ago.

‘Our ATMs operate in a very convenient mode, most of the time they are actually available 24/7. The bank’s ATM network comprises more than 270 machines throughout the country and keeps on expanding. This means a customer who has a deposit at our bank can get access to their money anywhere and at any given moment. And if a customer takes advantage of our Telebank offer, their deposits can be administered even more painlessly. One can, for example, top up one’s Leader or Olympus account or have money transferred from any account onto one’s bank card one. This really saves a lot of time,’ the Ural Bank for Reconstruction and Development reports.

To be able to use the option of opening and managing one’s deposit through an ATM, one has to hold the bank’s card or have it issued and sign a special agreement at any of the bank’s offices.

The minimum amount of money you have to deposit comes to 3,000 RUR, $100, or ?100; the deposit periods vary from one hundred days to nine months. Depending on your deposit type, the interest can be added up to one’s deposit or transferred into one’s bank card account. The interest is either paid at the end of the deposit period or on a monthly basis, depending on the deposit type. The Leader deposit scheme allows you to take out a certain amount of money without having to cancel the deposit agreement. Both Leader and Olympus deposit schemes allow you to top up your deposit account without any limits as to the time or the sum.

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