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15.10.08 VAB Bank Offers New Mobile Deposit For Non-Resident Individuals
Effective beginning of October, VAB Bank introduced a new deposit scheme for non-resident individuals who own private businesses, the Mobile Deposit. Olga Matveeva, head of the private business department, says the new Mobile Deposit allows accumulating and using cash freely while earning a decent income.
Easy access to deposited cash is the principal advantage of this product.
Mobile Deposit can be opened in US dollars or euros for two years with automatic extension for the same period, the number of such extensions being unlimited. This deposit scheme assumes monthly capitalisation of interest, allows opportunity to make up the deposit account during the first 17 months and withdraw cash any time throughout the agreement term. Maximum yield on this deposit is 7.75% yearly for US dollars and 5.25% yearly for euros. Minimum deposit/makeup amount is 10 thousand dollars or 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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