UrBC, Yekaterinburg, August 19, 2019. The Ural Bank for Reconstruction & Development (UBRD) came up with a new income-raising opportunity for its private customers. The bank now offers two new deposits that come with a life insurance policy (cash-value or unit-linked).

According to the bank’s press service, the minimum deposit amount begins at RUB 50,000; the money gets placed with the bank for 180 days at 7.7% a year; the interest gets paid every thirty days and can either get added to the total deposit amount or get paid into your debit card account. A cash-value life insurance policy gets issued on the day you open the deposit and is a precondition for this deposit type.

With a unit-linked life insurance policy in place, you can open the Investment Deposit for 180 days at 7.2% a year. The minimum deposit amount begins at RUB 50,000; the interest gets paid every thirty days and can either get added to the total deposit amount or get paid into your debit card account.

‘Quite a few private customers are currently on the lookout for alternative savings options, as regular bank deposits have been earning less and less interest over the years. Having looked into the market situation, we came up with a financial solution that brings you triple benefits: up to 7.7% a year in interest earnings; money from the insurance program; and tax relief options on the said insurance,’ says UBRD Marketing Director Alexei Merzlyakov.

You can open the two new deposit types at any of the bank’s offline branches. For more information, please visit the UBRD’s website.