Corporate clients can seamlessly place their funds on a rupee deposit account with Sber online through the bank’s digital platform, without having to visit the office physically. Deposit tenors start from 7 days. The interest rates are some of the highest on the market.

Clients with an active Sber account can open the deposit the same day if the funds already sit in their current account. The transaction will be instant if made via online banking. The deposit may also operate as collateral for lending products at Sber, including loans and letters of credit. That way, the money is still able to earn a yield, while clients can procure financing from Sber to expand their operations.

To place a deposit, you need a valid Sber account. Existing clients are required to submit a standard application, either in person or online. Detailed terms and conditions are available on the bank’s website. Non-clients are first required to pass the onboarding procedure.

Ivan Nosov, chief of Sberbank’s Indian branch:

“Sber is one of the biggest financial institutions in Russia, and we have been developing our collaboration with business in India for over 15 years. Today, Sber is one of the key partners in supporting the India-Russia trade corridor, and is actively growing its capabilities and value proposition on the local market.  Our fixed deposit product has one of the highest yields for corporates in India, while our online banking component makes opening the deposit and placing your funds easy and convenient.”