VTB raised rates on deposits in yuan

AK&M 02 June 2023 16:23

VTB has increased the rates on deposits in yuan for all customer segments. The most significant changes affected deposits for a period of three months to a year, the yield on which was adjusted by an average of 0.45-0.8%. This is stated in the bank's message.

In VTB, the deposit rates in yuan depend on the deposit options, the selected term and the package of services that the client uses. The greatest income is available when choosing a non-opcinal deposit and placing funds for three years. Under the new conditions, for users with the Multicarta package of services, the maximum yield on VTB Deposit will be 3.35% per annum, for owners of the Privilege package of services - 3.55% per annum, and for premium customers — 3.66%.

According to the results of 5 months of 2023, customers have already opened more than 11 thousand such deposits in VTB for 5.2 billion. As a result, the portfolio of deposits in yuan increased by 41% compared to the beginning of the year. Taking into account current trends, the bank expects that by the end of the year the bank's client portfolio in Chinese currency will double and reach 15 billion yuan

Universal VTB Deposit, which allows you to place funds in popular rubles and yuan today, VTB launched 12 different deposits instead. It allows you to customize the conditions for the individual needs of the client: the user can choose the optimal term for himself, the option of paying interest, if necessary, the option of replenishment and partial withdrawal. The deposit can be opened both in bank branches and in remote channels. When registering online, the minimum amount of placement in yuan is 1 thousand, at points of sale — 5 thousand.

VTB Group is a Russian financial group comprising more than 20 credit and financial companies operating in all major segments of the financial market. In the CIS countries, the group is represented in Armenia, Ukraine, Belarus, Kazakhstan, and Azerbaijan. VTB banks in Austria, Germany and France operate under a European sub-holding headed by VTB Bank (Austria). In addition, the group has subsidiaries and associated banks in the UK, Cyprus, Serbia, Georgia and Angola, as well as one branch of VTB Bank in China and India, two branches of VTB Capital Plc. in Singapore and Dubai.