URSA Bank makes 3.5 billion RUR worth of interest payments in 2008

URSA Bank made a total of 3.5 billion RUR worth of interest yield payments to its investors last year; these figures exceeded those for a year earlier (that is, 2.6 billion RUR) by one quarter. The better part of the payments was made in the summer and fall, since the bank’s depositors were apparently interested in saving up for a vacation or an apartment remodeling.

‘Our Magnificent Seven, Special, and Guaranteed Income deposit types were last year’s favorites. The terms of these deposits provide a combination of trouble-free savings and an impressive profit. What is more, a customer can top up their deposit account at any given moment, while the interest can be added up to the rest of the sum and capitalized or paid to the customer. Then, the interest rate for ruble deposits varies between 8.5% and 15% a year,’ URSA Bank reports.

URSA Bank raised the interest rates on all of its fixed term ruble deposits by .2% to 4.5% at the end of 2008, which resulted in the bank’s customers making more income from their investments.


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