Certificate of Deposit

 

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.

 

In case of opening the deposit certificate for one year and more, you will receive the following as a present:

  • Visa Classic – if the certificate amount is from 3,000 up to 10,000 units
  • Visa Gold – if the certificate is no less than 10,000 units and the certificate  has been opened for the period of 12 month

               In both cases, the internet-bank with SMS DG pass will be activated for customer free of charge 

 

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.

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

 

Interest-Bearing Certificate of Deposit

In the case of purchasing an interest deposit certificate, you will receive interest on a monthly basis and the amount of the deposit certificate at the expiration of its term.

 

In the case of the redemption of the certificate in a period of less than one month, the customer will be charged a penalty of 0.25% (from the amount paid in the certificate).
One month after the redemption of the certificate, the accrual condition is canceled and the customer will be able to receive the initial amount of the certificate minus the monthly interest already received.

Discounting Certificate of Deposit

In the case of purchasing a discount deposit certificate, you will receive a high interest rate in the form of an extra price at the end of the term; that is, the initial amount of the certificate and the interest accrued on it.
In the case of the redemption of the certificate in a period of less than one month, the customer will be charged a penalty of 0.25% (from the amount paid in the certificate).
One month after the redemption of the certificate, the accrual condition is canceled and the customer will only be able to receive the initial amount of the certificate.
 

 

Deposit Certificate Interest Rates for Retail Clients

 

GEL

USD

EUR

Term (months)

Discount Interest Discount Interest Discount Interest

3-5

11.05%

10.95%

1.60%

1.50%

0.90%

0.80%

6-8

11.55%

11.30%

1.70%

1.60%

1.05%

1.00%

9-11

11.75%

11.35%

1.95%

1.90%

1.30%

1.05%

12-14

11.95%

11.40%

2.20%

2.15%

1.90%

1.80%

15-17

11.95%

11.40%

2.30%

2.20%

1.90%

1.80%

18-20

12.00%

11.30%

2.50%

2.45%

2.10%

2.00%

21-23

12.20%

11.30%

2.55%

2.50%

2.10%

2.00%

24

12.45%

11.25%

2.75%

2.70%

2.30%

2.20%

 

Effective Interest Rates for Retail Clients:

 

GEL

USD

EUR

Term (months)

Discount Interest Discount Interest Discount Interest

3-5

11.52%

11.52%

1.61%

1.51%

0.90%

0.80%

6-8

11.88%

11.90%

1.71%

1.61%

1.05%

1.00%

9-11

11.92%

11.96%

1.95%

1.92%

1.30%

1.06%

12-14

11.95%

12.01%

2.20%

2.17%

1.90%

1.81%

15-17

11.78%

12.01%

2.29%

2.22%

1.90%

1.81%

18-20

11.66%

11.90%

2.48%

2.48%

2.09%

2.02%

21-23

11.69%

11.90%

2.53%

2.53%

2.08%

2.02%

24

11.76%

11.85%

2.71%

2.73%

2.27%

2.22%

 

 

General Agreement on Deposit Certificate Service Terms and Conditions

 

Application Form

Security Code