Placing a minimum balance in a ruble or foreign currency deposit account allows legal entities and individual entrepreneurs to receive additional interest income on their balances in ruble and foreign currency accounts.
The main requirement is that during the entire term of the agreement, the balance on the customer’s account should not be lower than the amount of the minimum balance (otherwise interest will be accrued only at the usual rates, which are indicated in the cash settlement service fees). Above and beyond this amount, customers can perform transactions on their accounts without restriction.
Interest rates for this product depend on the amount of the minimum balance, currency and deposit term.
To conclude an agreement with the Bank on the terms and conditions provided for in Article 428 of the Russian Civil Code for a contract of adhesion, the customer is required to submit to the Bank two hard copies of the Declaration of Acceptance of the Master Agreement on the procedure for maintaining a minimum balance, signed by a duly authorized representative of the Customer and certified by the Customer’s seal, as well as the duly certified documents required to open a deposit account and verify the Customer’s legal capacity and the powers of the representative who signed the Declaration of Acceptance on behalf of the Customer. The list of the required documents is defined by the rules of the Bank.
Advantages of using a master agreement:
- Funds can be deposited in any account held at the respective sales office;
- Ability to perform transactions for a term of one day or longer;
- Several minimum balances can be set for a single account;
- Reduction of document flow and transaction time;
- Ability to exchange confirmations using the Bank-Client System.
The Customer may also enter into a Master Agreement on the procedure for maintaining a minimum balance on a bilateral basis with the Bank.
For more information, call: +7 (495) 913-7883, (495) 913-7880
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Please be advised that amendments have been made to the Master Agreement on the procedure for maintaining a minimum balance in customer accounts (as a contract of adhesion), which take effect on January 15, 2019.
The new version of the Master Agreement on the procedure for maintaining a minimum balance in customer accounts (as a contract of adhesion) incorporates a number of changes, including:
- The definition of the Bank-Client System term has been revised;
- The form of the Notice on the Use of the Bank-Client System has been deleted;
- The form for the Declaration of Acceptance of the Master Agreement on the procedure maintaining a minimum balance in customer accounts has been amended.
- Please note that for Customers who have previously adhered to the Master Agreement on the procedure for maintaining a minimum balance in customer accounts, as of January 15, 2019 the new version of the agreement will take effect by default.
In case of disagreement with the amendments made to the agreement, the Customer is entitled to terminate the agreement before such changes take effect by submitting a written notice to GPB Bank (JSC) in accordance with the procedure set forth in the agreement.