VTB Bank issues and accepts for repayment or safe custody certificates of deposit, registered and in bearer form.
A registered certificate of deposit is a type of security which stipulates the amount deposited with the bank and the right of the certificate holder (whose name is recorded on the certificate) to receive the principal with accrued interest at a specified rate upon the paper’s maturity.
A bearer certificate of deposit is a type of security which stipulates the amount deposited with the bank and the right of this certificate’s bearer to receive the principal amount with accrued interest at a specified rate upon the paper’s maturity.
- Returns on your available funds at a fixed rate set by the bank for the entire term of the certificate;
- Bearer certificates can be transferred to a third party;
- In case of a registered certificate, the rights can be transferred to a third party through a cession procedure.
VTB bank offers the following transactions with certificates of deposit:
The bank issues certificates to corporate clients (residents of Russia and non-residents):
Both registered and bearer certificates are issued in series and denominated in Russian rubles. Non-cash transactions with registered certificates of deposit are not allowed.
- Registered certificates of deposit;
- Bearer certificates of deposit.
The bank accepts:
Upon the certificate’s maturity, the Bank pays the deposit principal with accrued interest as stipulated in the certificate. If the certificate is called before maturity, the bank pays the principle with accrued interest calculated at the rate specified on the certificate.
VTB offers to holders of its certificates of deposit a safe custody service for this type of non-issue securities. Certificates are accepted for safe custody before maturity.
- Registered VTB certificates – from the legal entity stipulated on the certificate or identified in a supplement as the new holder as a result of cession;
- Bearer VTB certificates – any legal entity which has obtained that certificate legally.