Geo

Certificate of Deposit

A Certificate of Deposit (CD) is a non-materialised negotiable financial instrument (bank deposit) and represents the Bank’s obligation to the CD holder to fulfil the terms and conditions as set forth in the Certificate of Deposit Agreement.

A Certificate of Deposit is purchased at its nominal value. Interest accrues annually and is paid with the nominal value at the final maturity date.

Advantages of a Certificate of Deposit:

  • CDs yield high interest rates
  • CDs can be purchased for up to 60 months
  • A CD holder may transfer the CD to another person at any time
  • It is possible to secure a loan with a CD

Terms and Conditions:

  • Currency: GEL / USD / EUR
  • Minimum value: GEL 13,000 / USD 5,000 / EUR 5,000
  • Interest earned is credited once per year, starting one year after the date of issue of the CD.
Nominal interest ratesEffective interest rates
Term (months)GELUSDEURGELUSDEUR
127.5 %3.4%1.2%7.5%3.4%1.2%
187.5%3.9%1.6%7.5%3.9%1.6%
248%4.2%1.75%8%4.2%1.75%
368%4.5%2.1%8%4.5%2.1%
488%4.7%2.35%8%4.7%2.35%
608%4.9%2.6%8%4.9%2.6%