Sberbank Unveils Savings Account—Advantageous Season

Sberbank, a state-owned Russian banking and financial services company headquartered in Moscow, recently launced Vygodny Sezon (Advantageous Season), a promotional savings account with a higher-than-usual interest rate that can be opened between November 11 and December 15, 2020, inclusive.

Interest rates depend on the term:

3–6 months: 3.6%

6–12 months: 3.8%

12–24 months: 4%.

According to the bank, clients are able to open Advantageous Season savings account account via the mobile app or the website SberBank Online, or ATMs. It is noted that the account can't be opened at bank branches.

Deposit currency is the Russian ruble; interest will be accrued at the end of the term. Clients can't add money to the savings account and can only withdraw interest. Early termination and prolongation of the savings account are available at a rate of 0.01% per annum. The minimum deposit amount is RUB50,000, the maximum amount is not limited.

Sergei Shirokov, Director of Borrow and Save at Sberbank, commented:"Advantageous Season, a promotional savings account with a higher interest rate, can easily be opened in just a few clicks without leaving your home via SberBank Online using your smartphone or a desktop. This way we help our customers access financial services while complying with precautionary measures amid a complicated health situation in Russia."