Ukraine-based unit of Greece’s Piraeus Bank
has launched a new scheme, Deposit Sky High, to enable customers to
deposit funds for a period of four months with a high interest rate
of up to 22% and the option of early withdrawal without loss of

The new Deposit Sky High scheme offers
customers monthly interest payments – starting from 14% per annum
for the first month to 22% for the fourth month. The minimum sum of
the deposit is UAH3,000 ($375).

Deposit Sky High also enables customers to
withdraw funds early without losing the interest earned. In case of
early withdrawal of funds, the customer will, reportedly, retain
the interest earned for the full month, and the interest for the
last unfinished month will be counted under a lowered interest rate
of 10% per annum.

Deputy director of retail banking at Piraeus
Bank in Ukraine, Oleksandr Gnilenko, said: “Deposit Sky High is
designed for clients who wish to increase the amount of their
deposit portfolio, as well as for those who place their surplus
funds in our bank for the first time.”

Piraeus Bank was established in 1916 and is
the fourth largest lender by assets in Greece. In Ukraine, Piraeus
Bank was established in 2007.