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 | 8.4% | 2.1% | 1.2% | 8.4% | 2.1% | 1.2% |
18 | 8.5% | 2.5% | 1.3% | 5.5% | 2.5% | 1.3% |
24 | 8.85% | 2.8% | 1.55% | 8.85% | 2.8% | 1.55% |
36 | 9% | 3.2% | 1.95% | 9% | 3.2% | 1.95% |
48 | 9.2% | 3.35% | 2.2% | 9.2% | 3.35% | 2.2% |
60 | 9.4% | 3.65% | 2.4% | 9.4% | 3.65% | 2.4% |
Interest rates monthly payment
Nominal interest rates | Effective interest rates | |||||
|---|---|---|---|---|---|---|
Term (months) | GEL | USD | EUR | GEL | USD | EUR |
12 | 8.35 % | 2.05% | 1.1% | 8.68% | 2.07% | 1.11% |
18 | 8.4% | 2.4% | 1.2% | 8.73% | 2.43% | 1.21% |
24 | 8.7% | 2.7% | 1.5% | 9.06% | 2.73% | 1.51% |
36 | 8.9% | 3% | 1.9% | 9.27% | 3.04% | 1.92% |
48 | 9.1% | 3.1% | 2.1% | 9.49% | 3.14% | 2.12% |
60 | 9.3% | 3.35% | 2.25% | 9.71% | 3.4% | 2.27% |