Promsvyazbank (PSB) has improved private banking conditions by increase accrued interest on deposits and discounted currency transfer options starting Wednesday.
The interest rate on deposits increased to 13.5 percent and is "the premium percentage," the bank said. Coupled with a possibility of a 60 percent discount in transferring currencies, the bank's Vice President and Head of Private Equity and Investment Management Peter Terekhin said this would improve profitability.
"Increase in interest rates on our entire line of premium deposits in any currency regardless of the length of storage - this is a significant and very timely improvement," Terekhin said. "We offer our partners not only advantageous placement of funds, but also the opportunity to earn additional income due to the transition from one currency into another currency at a special rate."
The minimum period for allocating funds was also decreased to three months due to current economic trends.