New RRDB program for individuals of retirement age

Moscow, 7 December. The Russian Regional Development Bank has introduced a comprehensive program for individuals of retirement age. This program includes several products: a current account for the transfer of pensions from a pension fund, a special deposit “Pension Line”, as well as an additional bonus for pensioners when they open a deposit “Right-2”/“Pravilniy-2”.

This program aims at providing more flexible service terms for clients of the older generation while particularly focusing on their savings.

When a client presents its pension certificate, RRDB opens a current account to receive pension payments from a Pension Fund. Moreover, an interest rate of 5% per annum is accrued on these accounts.

A pension certificate also allows opening a special deposit named “Pension Line” with very convenient terms. The minimum amount required to open this account is set at 1,000 rubles. The interest rate may be subject to incremental increase, which is very popular among other RRDB deposits. This means that, as a result of additional savings contributions to the account, and when a specific amount is reached, the depositor automatically changes rate bracket and receives his/her returns based on the interest rate of the higher accrued level. A depositor may top-up his/her account with any amounts available at the time. No restrictions are imposed. Deposits are opened in rubles for one or two years depending on the customer’s choice with a maximum rate of 12.2%. The terms and conditions are similar in all regions where an RRDB branch can be found.

“Pension Line” provides another advantage in the possibility of partial withdrawal of funds from the account. Customers may use their money at any time as the deposit allows partial withdrawals and payment operations. Moreover, in any case, the depositor receives an income from his/her savings as the interest rate is calculated and depends on the account balance only. The only condition imposed is to leave at least 1,000 rubles on the account after reclamation of the deposited amount.

At a client’s request, interests may be capitalized, the amount of contribution can be increased, or they may be credited onto current accounts or bank cards. The deposit terms provide for the possibility of topping-up and extension.

For those who would like to save in foreign currencies or terminate their deposit on a specific date, the program for individuals of retirement age provides for a special bonus under the deposit “Right-2”. This is a preferential rate onto which is added an extra 0.5% per annum in rubles or 0.2% in foreign currency.

RRDB program for representatives of the older generation should become a convenient savings tool for many senior clients. This program is also a new step in the development of retail services for priority target groups of the bank, including current and former employees of RRDB large corporate clients.