VTB-Armenia Bank has introduced three deposit products for corporate clients aimed at helping businesses manage temporarily surplus cash more efficiently. The products are called “Dasakan Business”, “Universal Business” and “Hamalrvogh Business”.
According to the bank, funds can be placed in Armenian drams, Russian rubles and euros. The “Dasakan Business” deposit is designed for companies willing to place funds for a fixed term without adding to or withdrawing from the deposit before maturity.
For businesses that need more flexibility, the bank offers the “Universal Business” deposit. It allows clients to earn income on placed funds while retaining the ability to manage them in line with current financial needs. The “Hamalrvogh Business” deposit is intended for companies planning to gradually increase the amount placed, and it allows an unlimited number of top-ups.
Evgeny Motovilov, Deputy CEO and Deputy Chairman of the Management Board of VTB-Armenia Bank, said it is important for corporate clients not only to preserve liquidity but also to use free cash efficiently. In his words, the bank’s deposit solutions allow companies to choose an instrument that matches their business tasks and financial needs.
For all three deposits, the minimum placement amount is AMD 200,000, EUR 400 or RUB 20,000, with terms ranging from 30 to 730 days. The interest rate depends on the deposit currency and on whether interest is paid monthly or at maturity. The maximum rate is 9.7% per annum for funds placed in Armenian drams with interest paid at the end of the term, while the annual yield is 9.27%.
Detailed terms are available on the VTB-Armenia Bank website, at any branch, or through the Contact Center at 87 87. The bank is supervised by the Central Bank of Armenia.
