Certificate of Deposit Conditions
A resident/non-resident legal entity can purchase a Certificate of Deposit.
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The bank is not obliged to redeem the certificate early.
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Partial alienation of the certificate is not allowed.
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It is not allowed to change the conditions of the sold certificate.
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During the validity of the agreement, the owner of the certificate has the right with the participation of the bank (in front of the bank), however, without the bank's consent, to alienate the certificate to any person in compliance with the conditions stipulated in the agreement; The fee for transfer of the certificate to a third party is 0.1% of the nominal value of the certificate.
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It is not possible to terminate the contract early.
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It is not possible to add money to the certificate.
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The deposit is insured within the framework of the Law of Georgia "On Deposit Insurance System".
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In case of a change in the important terms of the contract, the user will be informed at least 2 (two) months before the change, and in case of an increase in the price of another financial product - at least one month in writing, by e-mail, internet banking, and short text message.
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The customer has the right to submit a claim to any branch, service center, or head office of the bank, orally, in free writing, in standard written, or electronic form.
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If you purchase an interest-bearing Certificate of Deposit, you will receive the interest benefit every month, and the amount of the certificate will be paid at the end of its term.
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When redeeming the certificate in less than one month, the user will be charged a fine of 0.25% of the amount paid in the certificate.
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After one month, when redeeming the certificate, the accrual condition is canceled, and the user will be able to receive the initial amount of the certificate minus the monthly benefits already received.
- In case of purchasing a discount Certificate of Deposit, at the end of the term, you will receive a high interest benefit in the form of a lump sum - the initial amount of the certificate and the interest benefit accrued on it.
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When redeeming the certificate in less than one month, the user will be charged a fine of 0.25% of the amount paid in the certificate.
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After one month, when redeeming the certificate, the accrual condition is canceled, and the user will be able to receive only the initial amount of the certificate.
Certificate of Deposit Interest Rates for Business Clients:
|
|
GEL |
USD |
EUR |
|||
| Term (months) | Discount | Interest | Discount | Interest | Discount | Interest |
| 3-5 | 9.65% |
9.55% |
*N/A |
*N/A |
*N/A |
*N/A |
| 6-8 | 10.20% |
10.00% |
1.50% |
1.40% |
0.95% |
0.90% |
| 9-11 | 10.40% |
10.05% |
1.80% |
1.70% |
1.20% |
0.95% |
| 12-14 | 10.55% |
10.10% |
2.10% |
2.05% |
1.80% |
1.70% |
| 15-17 | 10.55% |
10.10% |
2.10% |
2.05% |
1.80% |
1.70% |
| 18-20 | 10.80% |
10.10% |
2.50% |
2.40% |
2.00% |
1.90% |
| 21-23 | 10.80% |
10.10% |
2.50% |
2.40% |
2.00% |
1.90% |
| 24 | 11.15% |
10.15% |
2.80% |
2.70% |
2.20% |
2.10% |
Certificate of Deposit Effective Interest Rates for Business Clients**:
|
|
GEL |
USD |
EUR |
|||
| Term (months) | Discount | Interest | Discount | Interest | Discount | Interest |
|
3-5 |
9.42% |
9.47% |
*N/A |
*N/A |
*N/A |
*N/A |
|
6-8 |
10.06% |
10.15% |
0.66% |
0.57% |
0.12% |
0.07% |
|
9-11 |
10.26% |
10.30% |
1.19% |
1.10% |
0.59% |
0.34% |
|
12-14 |
10.35% |
10.40% |
1.61% |
1.58% |
1.31% |
1.22% |
|
15-17 |
10.26% |
10.44% |
1.69% |
1.66% |
1.39% |
1.31% |
|
18-20 |
10.40% |
10.46% |
2.14% |
2.08% |
1.65% |
1.57% |
|
21-23 |
10.29% |
10.48% |
2.17% |
2.12% |
1.69% |
1.62% |
|
24 |
10.50% |
10.54% |
2.48% |
2.44% |
1.89% |
1.83% |
*For the specified term, the Certificate pf Deposit is not issued in the specified currency under standard conditions.
*Effective interest Rate is calculated on 5 000 unit.
These interest rates apply to deposits of no more than 1 million USD/EURO. If the amount exceeds 1 million USD/EURO, the deposit interest rate will be considered individually by the bank.
General Agreement on Certificate of Deposit Service Terms and Conditions
Frequently Asked Questions
Both resident and non-resident legal entities can purchase a Certificate of Deposit.
If you purchase an interest-bearing Certificate of Deposit, you will receive the interest benefit every month, and the amount of the certificate will be paid at the end of its term.
The certificate can be purchased in GEL for a period of 3 to 24 months, and in dollars and euros for a period of 6 to 24 months.
