Business

Russia's state-run Sberbank raises individual account rates

13:37 29/11/2008

MOSCOW, November 29 (RIA Novosti) - Russia's state savings bank Sberbank has increased rates for ruble-denominated individual deposit accounts by 1 to 2.5 percentage points from December 1, the bank said on Saturday.

The new rates will range from 5.25% to 12% depending on a deposit size and period, the bank said in a new release.

Deposits on individual Sberbank accounts declined 3.2% in October as over 95 billion rubles ($3.5 billion) was withdrawn amid fears fueled by the global financial crisis. The bank holds over 50% of the country's deposits.

The hike in rates is seen as Sberbank's move to encourage a national currency inflow in line with the government's recommendations.

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<div style="border:1px solid #d3d3d3; padding:17px 0 0px 17px; background:#ffffff; width:510px;"><div style="width:100%; overflow:hidden;"><a target="_blank" href="http://en.rian.ru/business/20081129/118607356.html" style="text-decoration:none;"><img src="http://en.rian.ru/i/eng/logo_sml.gif" alt="RIA Novosti" title="RIA Novosti" style="float:left; margin-right:10px;" border="0" /></a><a target="_blank" href="http://en.rian.ru/business/20081129/118607356.html" style="color:#000000;text-decoration:none;display: block; margin: 0 10px 0 0 ;"><strong style="font:19px Georgia,Arial,sans-serif; line-height:16px; font-weight:bold;">Russia's state-run Sberbank raises individual account rates</strong></a><p style="font:13px Georgia,Arial,sans-serif; padding:5px 10px 0px 0;"><span style="color:#5590bf;">13:37</span> <span style="color:#5590bf; padding-right:7px;">29/11/2008</span> <span style="font-size:12px;">Russia's state savings bank Sberbank has increased rates for ruble-denominated individual deposit accounts by 1 to 2.5 percentage points from December 1, the bank said on Saturday. <a target="_blank" style="color:#335f86; padding-left:10px; text-decoration:underline;" href="http://en.rian.ru/business/20081129/118607356.html" title="Russia's state-run Sberbank raises individual account rates">>></a></span></p><div style="padding:6px 0 15px 30px; font:10px Verdana,sans-serif;"><a target="_blank" style="color:#114472; text-decoration:underline;" href="http://en.rian.ru" title="RIA Novosti">Other news of the day</a></div></div></div>

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Russia's state-run Sberbank raises individual account rates

13:37 29/11/2008 Russia's state savings bank Sberbank has increased rates for ruble-denominated individual deposit accounts by 1 to 2.5 percentage points from December 1, the bank said on Saturday. >>

Other news of the day