Certificates of Deposit
The Bank can issue to legal entities (both Russian residents and non-residents):
- personal Certificates of Deposits (CDs) – these are a kind of securities that certify the deposit amount placed with the Bank and the right of the CD owner specified in such CD, to get the deposit amount at maturity and all the interests due;
- bearer CDs - these are a kind of securities that certify the deposit amount placed with the Bank and the right of the CD bearer to get the deposit amount at maturity and all the interests due.
The Bank issues personal CDs and bearer CDs in series. Bearer CDs are issued in Russian Rubles. Cashless settlements with personal CD are not allowed.
The Bank accepts for redemption the following of its CDs:
- personal CDs – from legal entities who are either specified in the CD or who had the CD assigned to them and is specified in a list attached to such CD;
- bearer CDs – from legal entities who presented such CD and who had lawfully obtained it.
Then a CD is presented to the Bank at maturity, the Bank shall pay to its bearer the deposit amount and interests specified in the CD.
In case of early withdrawal of a CD, the Bank shall pay the deposit amount and interests calculated at the rate specified in the CD.
Key benefits and advantages:
- customers can gain benefits from placing idle funds (the Bank sets a fixed interest rate for the whole maturity term of the CD);
- a bearer CD can be passed over to any legal entity by simple delivery;
- rights under a personal CD can be assigned to any legal entity in compliance with applicable law.
The Bank offers CD holders to safe-keep these non-issued securities.
Key benefits:
- it's much safer to keep the CDs with the Bank than at Customer location;
- VTB's superior reliability among Russian commercial banks virtually eliminates risks for its customers and ensures maximum safety for Customer funds;
- the Customer may chose any safekeeping term length;
- it's possible to pay or discount the bills which are being safe-kept with the Bank;
- the Bank's country-wide network of branches allows its Customers to safe-keep its bills in any sub-office or branch.
