- The deposit can be increased during the first 9 months, but not in the last 3 months.
- The minimum amount for increasing the deposit is 50 AZN.
- 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.
