Interest on account balance

A monthly average account balance

VTB Bank (Azerbaijan) offers corporate customers a product that implies accrual of interest on the monthly average balance sum on the account. Thus, your money does not just stay on the account, but also allows you to receive additional income.

Monthly average account balance is the ratio of the amount of the balance of funds accounted as of the beginning of each calendar day in a month (excluding weekends and holidays), to the actual number of working days in a given month

  • Account currency - AZN,  RUB
  • The amount of the minimum balance on the current account - minimum 10 000 AZN (or equvalent of RUB) and over
  • Calculated interest accrual period - 1 month (period to restore of the minimum  balance)
  • Interest accruals - monthly from the date of signing Additional agreement*, according to the 360/30 method
  • Transfer of accrued interest - monthly to the current account (capitalization) on the next business day after the end of the accounting interest accutared  period
  • Automatic prolongation is carried out on the same terms, including for the same period, but with interest rates effective as of the date of the extension of the Supplementary Agreement
  • Interest rate – according to the Table

 * The Supplemental Agreement is an additional agreement to the Current Account Agreement in the relevant currency on the procedure for calculating and paying interest to monthly average account balance.

 Interest calculation table: 

 


Monthly average balance

 

 


Daily balance on the beginning of operation 

day within a month

 

               

Interest rate 

(% per annum);

AZN

RUB

Over 10 000 to the extent of 100 000 (inclusive)

10 000

2,5%

1,2%

Over 100 000 to the extent of 250 000 (inclusive)

25 000

3%

1,3%

Over 250 000 to the extent of 500 000 (inclusive)

50 000

3,3%

1,5%

Over   500 000 (inclusive)

100 000

3,4%

1,7%