Finance

Finance

UniBank rolls out unique deposit product

02 April 2009 13:54 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based UniBank C is launching a unique deposit campaign Be a Millionaire. From now on, all the customers of the Bank who make the Millionaire deposits in the period from 30 March till 31 July 2009 will have a chance of winning up to AZN 1,000,000.
â€˜Unibank has always been and is an innovator in the banking market of Azerbaijan,â€™ says Faig Huseynov, Chairman of the Management Board of Unibank, â€˜For example, Unibank was the first local bank to raffle gold bullions for its customers during 2004-2006. Last year we were the first to raffle diamonds for our depositors. Now and, again, for the first time in the history of the Azeri financial system, we are the commercial bank that will raffle such a big money prize, namely, of up to AZN 1,000,000.â€™
Anyone willing to take part in the lottery should make a Millionaire type deposit of at least AZN/USD/EUR 1,000 in Unibank and keep that deposit extant until the lottery date on 18 March 2010. Every AZN/USD/EUR 1,000 in the deposit means 1 winning chance. So, clearly, the bigger the deposit, the more winning chances the customer gets. The Millionaire deposits will be accepted only until 31 July 2009
The amount of the prize will depend on how many deposits will have been attracted during the campaign. That is, the more in deposits, the larger the prize will be. However, the guaranteed prize amount will equal at least AZN 150,000, while the maximum prize amount can equal AZN 1,000,000. An external audit company will count and fix the prize amount at the end of the campaign.
All the customers of the Bank taking part in the lottery will be periodically updated on the prize growth progress. The lottery winner will be picked up through random computerised selection under the control of independent monitors; the winnings will be reported within three working days after the lottery. The announcement will be taken out in the mass media.
Apart from taking part in the lottery, all the Millionaire deposit holders can enjoy the beneficial rates of interest of up to 13% annually. If necessary, a customer will be given a credit line of 50% of the deposit amount under the rate of interest equalling the deposit rate of interest + 3%. If the deposit is up to AZNUSDEUR 10,000, the customer will be given a free of charge Visa Classic or MC Standard card; if the deposit is AZNUSDEUR 10,001 - AZNUSDEUR 50,000, it will bring its holder a Visa Gold or MC Gold card free of charge; and if the deposit equals or exceeds AZNUSDEUR 50,001, the holder will be given a Visa Platinum or MC Platinum card free of charge.