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 monthly or once per year, starting one year after the date of issue of the CD.
| Interest rates annual payment | ||||||
|---|---|---|---|---|---|---|
| Nominal interest rates | Effective interest rates | |||||
| Term (months) | GEL | USD | EUR | GEL | USD | EUR |
| 12 | 7.5% | 3.3% | 1.7% | 7.5% | 3.3% | 1.7% |
| 18 | 7.5% | 3.9% | 1.9% | 7.5% | 3.9% | 1.9% |
| 24 | 8% | 4.2% | 2.1% | 8% | 4.2% | 2.1% |
| 36 | 8% | 4.5% | 2.3% | 8% | 4.5% | 2.3% |
| 48 | 8% | 4.7% | 2.5% | 8% | 4.7% | 2.5% |
| 60 | 8% | 4.9% | 2.7% | 8% | 4.9% | 2.7% |
| Interest rates monthly payment | ||||||
|---|---|---|---|---|---|---|
| Nominal interest rates | Effective interest rates | |||||
| Term (months) | GEL | USD | EUR | GEL | USD | EUR |
| 12 | 7.4 % | 3.2% | 1.6% | 7.66% | 3.25% | 1.61% |
| 18 | 7.4% | 3.8% | 1.8% | 7.66% | 3.87% | 1.81% |
| 24 | 7.9% | 4.1% | 2% | 8.19% | 4.18% | 2.02% |
| 36 | 7.9% | 4.4% | 2.2% | 8.19% | 4.49% | 2.22% |
| 48 | 7.9% | 4.6% | 2.4% | 8.19% | 4.7% | 2.43% |
| 60 | 7.9% | 4.8% | 2.6% | 8.19% | 4.91% | 2.63% |