Chat
INTERNET BANKING

CERTIFICATE OF DEPOSIT

Certificate of deposit is a deposit (security) and it represents a bank liability; the sum of a certificate is paid out to the beneficiary on the day agreed in a certificate.

TERMS
  • Deposit currency - GEL;
  • Minimum deposit amount at opening - ₾1000 (or a multiple of 1000);
  • Deposit term - 12 and 24 months;
  • Addition of funds - not permitted;
  • Interest accrued - daily, divided by 365 (three hundred and sixty-five) days;
  • Pre-termination - not permitted;
  • Interest paid - annually, monthly;
  • Certificate transfer - permitted, as per Credo Bank procedure;
  • Certificate transfer commission - 0.1% of certificate sum, minimum of 100 GEL;
BENEFITS
  • Certificate of deposit from Credo Bank is characterized by high interest rate.
Terms for re-compensation

The client pays the bank a fine, as follows: interest rate of the current, same-term certificate of deposit in the bank, or interest rate of the next long-term certificate of deposit in the bank, plus 3%.

 

Interest rate, if withdrawn every 12 months - GEL Nominal interest rate Effective interest rate
12 months 12.70% 12.70%
24 months 13.60% 12.78%
36,48,60 months Individually negotiated Individually negotiated
Interest rate, if withdrawn at the end of each month - GEL Nominal interest rate Effective interest rate
12 months 12.10% 12.79%
24 months 12.20% 12.91%
36,48,60 months Individually negotiated Individually negotiated

*The bank is not liable to prematurely re-compensate the certificate of deposit with the terms above.