SKB-Bank introduced the 15.5% interest rate as the upper profitability limit on deposits on September 18, 2008. This figure exceeds even the most pessimistic inflation rate predictions for the year 2008, the bank’s press officer reports.


‘We thought of raising the interest rates on deposits in order to protect our many customers’ financial interests. We all notice the price soaring, so one’s savings must both be secured and increased significantly by the bank,’ says SKB-Bank’s Deputy Chairman Oleg Demin.


‘Another reason was our intention to benefit from the challenging situation on the global financial markets. Given the stock market’s vulnerability and the world currencies rates’ instability, a bank is virtually the only place where one can hope for a guaranteed protection of one’s money as well as an secured income. Our 15.5% annual interest rate will definitely appeal to investors, who appear to have grown disillusioned about the securities market,’ he adds.