Uniastrum Launches Advantage Deposit Account

Moscow, Russia, April 05, 2012 --(PR.com)-- With a Uniastrum Advantage account, customers can deposit between Rb 50,000 and Rb 100 mn for a period of two years. The amount of interest accrued is dependent on the rates set for the stipulated deposit intervals, as well as upon the size of the deposit. An Advantage account offers a maximum return of 13% APR*.

In cases where a customer decides to close his or her account early, interest is calculated and paid at a rate of interest ranging from 1-6% depending on the actual deposit period. No provision is made for top-ups, partial withdrawal and automatic renewal of the account. Interest is paid on maturity.

Anyone opening a Uniastrum Advantage deposit account automatically receives a U-Pay Deposit card, which comes with an overdraft facility. Specially designed for Uniastrum customers, the U-Pay Deposit card features a number of conspicuous benefits, including competitive interest rates for use of the credited funds and short and straightforward application procedures. Also, at the end of the deposit period, holders can continue using their cards, and there are no administration fees.

“Our new deposit facility is an opportunity for persons with cash to spare to make their money work profitably for them over a relatively long period. Moreover, customers who close their accounts early lose very little in the way of returns,” explains Vasily Kuznetsov, Deputy Chairman of Uniastrum’s Management Board. “Our Advantage initiative is a welcome addition to the Bank’s retail deposit options and has been carefully designed to ensure that our customers can manage their money effectively.”

* The maximum interest rate cited above applies to Advantage deposit accounts of Rb 50,000 to Rb 100 million (maximum deposit) kept open for a period of 730 days. Interest is accrued in accordance with this rate in cases where the deposited funds remain in the account for a period of 638-730 days. For shorter periods, interest is accrued in accordance with the following rates: 1-365 days: 8.5% APR; 366-638 days: 11% APR. In the event of early closure prior to the expiry of 730 days, the deposit agreement shall be terminated and interest accrued dependent on the actual deposit period, i.e.: 1-90 days: 1% APR; 91-180 days: 3% APR; 181-270 days: 5% APR; 271-730 days: 6% APR. Interest is paid on maturity or, in the case of early closure, on the day on which the deposit agreement is terminated. For the duration of the agreement, the placement of additional funds and partial withdrawals are not permitted and doing so shall result in the early termination of the agreement. No provision is made for automatic renewal of the deposit facility. This information correct as of March 14, 2012. UNIASTRUM BANK LLC, CBR General Banking License No.2771.