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ITB Starts Provision Of "Multicurrency" Deposit Services

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  • ITB Starts Provision Of "Multicurrency" Deposit Services

    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.
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