ITB STARTS PROVISION OF "MULTICURRENCY" DEPOSIT SERVICES
Noyan Tapan
Oct 30 2006
YEREVAN, OCTOBER 30, NOYAN TAPAN. Since October 1, the International
Trade Bank (ITB) has provided a service of new kind – "multicurrency"
deposit service. Noyan Tapan was informed from ITB that the peculiarity
of this type of depositing is that by signing one contract with the
bank, the customer has the opportunity to deposit his/her savings in
one or three currencies (Armenian dra ms, US dollars and euros) at
the same time. This allows to protect one’s savings from devaluation
and inflation thanks to exhanging the money saved in one currency
for another. There are three types of multicurrency deposits at the
bank: time, cumulative and cumulative with the opportunity of partial
repayment. The term of time deposits is 365 days, the term of two
other deposits is 365-730 days.