VAB Bank product line was updated by the new Progressive Deposit scheme effective 10 October 2008.
According to Anton Shaperenkov, head of VAB Bank department for retail business products development, the main advantage of the Progressive Deposit is the guaranteed monthly increase of a deposit interest rate.
Progressive Deposit could be placed for 3, 6, or 12 months in hrivnias, US dollars, or euros.
Interest rates in this deposit scheme vary depending on the amount deposited and the deposit term. The maximum rate offered is 22.25% yearly; interest is paid at deposit maturity. Minimum deposit amount is 500 hrivnias or 100 US dollars/euros.
Reference dataVseukrainsky Aksionerny Bank (VAB Bank) has been operating in the Ukrainian financial market since 1992 and belongs to the group large banks in Ukraine according to NBU. In October 2006, VAB Bank became a member of VAB Group. Branch network consists of 25 branches and 143 outlets throughout Ukraine and a representative office in Budapest (Hungary). A large international company, TBIF Financial Services (Amsterdam, the Netherlands), is among the bank’s shareholders. Total assets of VAB Bank amounted to UAH 6.7 billion as of 01 July 2008.
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