Deposit Certificate

 

Deposit certificate is the banking deposit and represents the banks liability to pay the amount stipulated by the cerificate terms and conditions to the certificate holder on the day stipulated by the cerificate terms and conditions.

Key Terms and Conditions of Deposit Certificate:

  • Deposit Certificate maturity: minimum - 3  months; maximum - 24 months
  • Deposit certificate currency – GEL/USD/EURO
  • Deposit certificate can be received by resident, as well as non-resident individuals and legal entities
  • Nominal value of deposit certificate:
    • Minimum - GEL/USD 1,000*

    • Maximum - Unlimited

  • Bank is not liable to redeem the certificate before the due date  
  • Certificate shall not be partly sold
  • Terms and conditions of the sold certificate shall not be changed
  • During the validity period of the agreement, certificate holder is entitled to sell the certificate to any individual, through the bank’s involvement (to the bank), however, without the bank’s approval, in compliance with the terms and conditions stipulated by the certificate; Commission for sale of certificate to a third person amounts to  0.1% of the certificate’s nominal value.

*Effective interest Rate is calculated on 5,000 unit The change rate- 2.4 (GEL/USD), 3,0 (GEL/EUR).

You may use two types of deposit certificates – interest-bearing and discount:

Interest-Bearing Certificate of Deposit

In case of purchase of a interest-bearing certificate of deposit, you will receive high net interest margin at the end of the term – both the initial amount of the certificate and the interest accrued. 

In case of premature buy-back of the certificate by the bank, the settlement amount shall be calculated according to terms of a standard term deposit. Interest accrued on the cost of purchase of the certificate shall equal the interest rate of a savings deposit (calculated for the number of actual days) minus the amount of interest paid to the customer on a monthly basis. 

Discounting Certificate of Deposit

In case of purchase of the discounting certificate of deposit, you will receive interest on a monthly basis, while the certificate amount may be collected at the end of the deposit term. 

In case of premature buy-back of the certificate of deposit by the bank, the settlement amount shall be calculated according to terms of a standard term deposit, while the interest accrued for the amount of purchase shall equal the interest rate of a savings deposit (calculated for the number of actual days). 

 

* In case of buy-back of the interest-bearing and discounting certificates of deposit within less than a month from purchase, the customer shall bear a fine equal to 0.25% of the purchasing amount of the certificate.

 

Deposit Certificate Interest Rates for Business Clients:

 

GEL

USD

EUR

Term (months)

Discount

Interest

Discount

Interest

Discount

Interest

3-5

8.40%

8.35%

2.25%

2.00%

0.55%

0.50%

6-8

9.25%

9.10%

2.75%

2.50%

0.80%

0.75%

9-11

10.00%

9.70%

3.25%

3.00%

1.05%

1.00%

12-17

10.65%

10.20%

3.75%

3.25%

1.30%

1.25%

18-20

11.10%

10.30%

4.00%

3.75%

1.75%

1.60%

21-23

11.10%

10.30%

4.15%

3.90%

2.00%

1.70%

24

11.60%

10.50%

4.25%

4.00%

2.05%

1.85%

 

Effective Interest Rates for Business Clients:

 

GEL

USD

EUR

Term (months)

Discount

Interest

Discount

Interest

Discount

Interest

3-5

7.57%

7.63%

0.89%

0.64%

-0.80%

-0.85%

6-8

8.74%

8.82%

1.90%

1.66%

-0.05%

-0.10%

9-11

9.56%

9.65%

2.62%

2.40%

0.43%

0.38%

12-17

10.21%

10.36%

3.31%

2.88%

0.89%

0.85%

18-20

10.52%

10.51%

3.60%

3.45%

1.39%

1.26%

21-23

10.42%

10.55%

3.77%

3.65%

1.68%

1.41%

24

10.77%

10.78%

3.87%

3.77%

1.74%

1.57%

 

General Agreement on Deposit Certificate Service Terms and Conditions

 

 

Application Form

Security Code