Terms
-
Interest benefits are accrued and renewed every two years on the deposit account, in accordance with the prevailing interest rate for children's deposits at that time.
-
Interest is calculated solely on the amount in the deposit account, based on a 365-day year.
-
The benefit can only be accessed and withdrawn at the end of the term, from the current account of the adult depositor.
-
Required documentation: Child's birth certificate is necessary.
Violation of the deposit is subject to Article 186, Paragraph 11 of the Civil Code:
-
If the total amount on the deposit, including interest, does not exceed 1 000 (thousand) GEL or its equivalent in foreign currency (at the national exchange rate of that day).
-
In the case of any amount, provided the disposer presents the relevant court permission (decree).
How to open a children’s deposit?
To open a children’s deposit, you have to visit one of Terabank’s branches.
See our branches list.
