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Flexible Deposit

We present our “Flexible Deposit” product, which allows you to define the term of your deposit yourself. With this deposit, individuals and legal entities can place their funds efficiently and withdraw them at any time according to the agreement. It is designed for clients who want to benefit from bank interest while also minimizing the risk of sudden cash needs.

Features:

  • Minimum deposit: 1000 AZN/USD/EUR;
  • Deposit term: from 30 days to 720 days;
  • Interest is transferred to the client’s current account at maturity.

 

Interest rates

Term (day)
 

 Annual interest rate in relevant currencies
AZN USD EUR
30 3% 1.75% 1.25%
31-60 3.5% 2% 1.5%
61-90 3.75% 2.1% 1.75%
91-180 5.5% 2.4% 2%
181-270 7% 2.6% 2.25%
271-360 8.25% 3% 2.5%
361-450 8.5% 3.5% 2.5%
451-540 8.75% 3.75% 2.5%
541-630 9% 3.5% 2.25%
631-720 9.25% 3.25% 2%

Important information

  • If the client terminates the deposit agreement early, previously paid interest is deducted from the principal, and new interest is calculated at reduced rates: 0.5% annually for AZN deposits, 0.2% for USD, 0.1% for EUR, proportional to the actual term.
  • According to the Deposit Insurance Fund, the maximum annual interest rate for insured deposits is 12% in national currency and 2.5% in foreign currency (up to 100,000 AZN).
  • As per amendments to the Tax Code effective from January 1, 2024 (Article 102.1.22):

1. Deposits in AZN for 18 months or more: all interest income earned over 3 years from January 1, 2024 is exempt from 10% tax.

2. Deposits in AZN for less than 18 months, with interest paid at maturity: monthly notional interest calculated; up to 200 AZN exempt from 10% tax.

3. Deposits in AZN for less than 18 months, with monthly interest payment: up to 200 AZN per month exempt from 10% tax.

4. For deposits placed before January 1, 2024, tax is applied according to the previous rules.