Certificate of Deposit (CD)
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.
Advantages:
- 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 me
- It is possible to secure a loan with a CD
Terms and Conditions:
- Currency: GEL / USD / EUR
- Minimum value: GEL 1 000 / USD / EUR
- Interest earned is credited monthly or once per year.
- Interest rate in case of redemption of the CD by the bank: For each completed year, the interest rate of CD will be reduced by 0.5%, the interest rate for the remaining term will be 0%.
- Certificate of Deposit selling fee: 0.1% of the deposit amount, at least USD 100 (equivalent in the respected currency).
Interest rates annual payment
NOMINAL INTEREST RATES | EFFECTIVE INTEREST RATES | |||||
Term (Months) | GEL | USD | EUR | GEL | USD | EUR |
| 3-5 | 9.60% | 2.00% | 1.10% | Up to 9.95% | Up to 2.02% | Up to 1.10% |
| 6-11 | 10.20% | 3.05% | 2.25% | From 10.24% | From 3.05% | From 2.25% |
12-17 | 10.30% | 3.25% | 2.75% | 10.30% | 3.25% | 2.75% |
18-23 | 10.40% | 3.55% | 3.15% | 10.40% | 3.55% | 3.15% |
24-35 | 10.50% | 3.90% | 3.45% | 10.50% | 3.90% | 3.45% |
36-47 | 10.50% | 4.20% | 3.65% | 10.50% | 4.20% | 3.65% |
48-59 | 10.50% | 4.40% | 3.75% | 10.50% | 4.40% | 3.75% |
60 | 10.50% | 4.60% | 3.85% | 10.50% | 4.60% | 3.85% |
Interest rates monthly payment
NOMINAL INTEREST RATES | EFFECTIVE INTERESR RATE | |||||
Term (Months) | GEL | USD | EUR | GEL | USD | EUR |
| 3-5 | 9.50% | 1.90% | 1.00% | Up to 9.92% | Up to 1.92% | Up to 1.00% |
| 6-11 | 10.15% | 3.00% | 2.20% | 10.64% | 3.04% | 2.22% |
12-17 | 10.20% | 3.20% | 2.70% | 10.69% | 3.25% | 2.73% |
18-23 | 10.20% | 3.50% | 3.10% | 10.69% | 3.56% | 3.14% |
24-35 | 10.30% | 3.80% | 3.35% | 10.80% | 3.87% | 3.40% |
36-47 | 10.30% | 4.10% | 3.55% | 10.80% | 4.18% | 3.61% |
48-59 | 10.30% | 4.20% | 3.60% | 10.80% | 4.28% | 3.66% |
60 | 10.30% | 4.35% | 3.65% | 10.80% | 4.44% | 3.71% |
Information about deposit insurance system
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