Term Deposits
We present our term deposit product, which allows you to place your funds securely and earn fixed income. You can deposit in different currencies, for the desired term, and receive high interest earnings.
Features:
- Minimum deposit amount: 1000 AZN/USD/EUR;
- Interest payments: monthly, quarterly (every 3 months), or at maturity;
- Upon expiry of the deposit agreement, it can be extended based on the conditions on the maturity date upon the client’s request.
Interest rates
|
Paid at maturity |
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|
Term range (months) |
Annual interest rate in relevant currencies | ||
| AZN | USD | EUR | |
| 9 ay | 8.25% | 3.25% | 2.25% |
| 12 ay | 8.75% | 3.5% | 2.5% |
| 18 ay | 9.25% | 3.75% | 2.75% |
| 24 ay | 8.75% | 3.75% | 2.75% |
| >=36 ay | 8.25% | 3.5% | 2.25 |
|
Paid every 3 months |
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|
Term range (months) |
Annual interest rate in relevant currencies | ||
| AZN | USD | EUR | |
| 6 ay | 5.5% | 2.5% | 1.75% |
| 9 ay | 7.5% | 3% | 2% |
| 12 ay | 8.5% | 3.25% | 2.25% |
| 18 ay | 9% | 3.5% | 2.5% |
| 24 ay | 8.5% | 3.5% | 2.5% |
| >=36 ay | 8% | 3.25% | 2% |
|
Paid monthly |
|||
|
Term range (months) |
Annual interest rate in relevant currencies | ||
| AZN | USD | EUR | |
| 6 ay | 5.5% | 2.5% | 1.75% |
| 9 ay | 7.5% | 3% | 2% |
| 12 ay | 8.5% | 3.25% | 2.25% |
| 18 ay | 9% | 3.5% | 2.5% |
| 24 ay | 8.5% | 3.5% | 2.5% |
| >=36 ay | 8% | 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.