02.12.2022
VTB (Kazakhstan) raised rates on deposit certificates by 1.5 p.p. Securities are available to retail customers with a yield of 17.5% per annum.
Within the framework of a deposit certificate, customers can place funds starting from KZT 1 million, the maximum amount is not limited. The security is available for 6 or 12 months. Unlike a classical deposit, the interest under the deposit certificate is paid quarterly or within 5 business days after the expiry date of the certificate placement. Replenishment and partial withdrawal for the product are not stipulated.
"Since its launch, the deposit certificate remains in demand among customers as an alternative to classic deposits. First of all, the product is popular among wealthy customers who prefer to diversify their portfolios. To date, the average amount of certificate opening in VTB (Kazakhstan) is 20 million KZT, and the average deposit period is 12 months. By increasing the rate to 17.5%, customers will get an opportunity to fix yields exceeding average rates on the market for classic deposits," Stanislav Koziakov, Director of the retail business department of VTB Bank (Kazakhstan) said.
You can conclude a deposit certificate agreement at any VTB Bank (Kazakhstan) branch in 17 cities of the country. You can submit a preliminary for the issue of a deposit certificate on the
Bank's website or through the contact center via number
5050.
For reference:
A deposit certificate is a security that confirms the deposit of funds with a bank for a certain period and at a fixed interest rate. The deposit certificate is not a bank deposit and is not guaranteed by the “Kazakhstan Deposit Insurance Fund” JSC.