News
The interest rate of the USD deposit reached 7% per year, which is the most competitive offer on the market.
From tomorrow on until 13 July Bulbank will be raising funds for the new deposit with fixed term - Integral. The deposit is again in USD with a term of 18 months at a guaranteed annual interest rate of 6.5% for the first six months and interest levels of up to 7%in USD for the remaining period.
The profitability of the Integral Deposit is bound with the movement of the 3-month USD LIBOR in the following way:
- The client gets a guaranteed interest of 3.25 % (representing 6.5% from the annual interest) in USD for the first six months of the deposit period
- The condition for interest accrual during the second (twelve months) interest period is that the values of the 3M USD LIBOR must be within 1% up to 1.8%. This means that for each day in the 10.01.2010-10.01.2011 period, when the official value of the 3М USD LIBOR is within 1% up to 1.8%, the client gets 7% interest rate in USD.
As with every structured product, achieving a maximum profitability is related to meeting certain conditions. In spite of this, the interest for Integral is definitely the highest one on the market as of the present moment. Our expectations are for an increase in the LIBOR values in 2010 compared to its current levels of 0.63 %, which means that Integral has the potential to achieve maximum profitability”, explained Lyubomir Punchev, Head of Retail Banking and member of the Management Board of UniCredit Bulbank.
Among the advantages of the new deposit Integral, besides the competitive interest rate, there is also the relatively low minimum required amount for opening it- USD 500 for individuals and USD 10,000 for companies.
Contacts:
UniCredit Bulbank, Public Relations and Corporate Communications
Victoria Blazheva, tel.: 02/9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch
Ekaterina Ancheva: Tel: 02/9264 963, Flbufsjob/bodifwbAvojdsfejuhspvq/ch