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 1000 / USD / EUR
- Interest earned is credited monthly or once per year, starting one year after the date of issue of the CD
- 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 |
12 | 9.30% | 3.25% | 2.75% | 9.30% | 3.25% | 2.75% |
18 | 9.00% | 3.55% | 3.15% | 9.00% | 3.55% | 3.15% |
24 | 9.00% | 3.90% | 3.45% | 9.00% | 3.90% | 3.45% |
36 | 8.50% | 4.20% | 3.65% | 8.50% | 4.20% | 3.65% |
48 | 8.50% | 4.40% | 3.75% | 8.50% | 4.40% | 3.75% |
60 | 8.50% | 4.60% | 3.85% | 8.50% | 4.60% | 3.85% |
Interest rates monthly payment
NOMINAL INTEREST RATES | EFFECTIVE INTERESR RATE | |||||
Term (Months) | GEL | USD | EUR | GEL | USD | EUR |
12 | 9.00% | 3.20% | 2.70% | 9.38% | 3.25% | 2.73% |
18 | 8.80% | 3.50% | 3.10% | 9.16% | 3.56% | 3.14% |
24 | 8.80% | 3.80% | 3.35% | 9.16% | 3.87% | 3.40% |
36 | 8.20% | 4.10% | 3.55% | 8.52% | 4.18% | 3.61% |
48 | 8.30% | 4.20% | 3.60% | 8.62% | 4.28% | 3.66% |
60 | 8.30% | 4.35% | 3.65% | 8.62% | 4.44% | 3.71% |
Information about deposit insurance system