CERTIFICATE OF DEPOSIT
A deposit certificate is the best leverage for investing savings effectively, thus for gaining an increased profit!
It serves as the responsibility of the bank to provide an owner with the respective amount on the date determined by the contract as set forth within the certificate.
The deposit certificate can be opened both in the service center and remotely through Business Mycredo internet and mobile banking.
- Currency of a deposit – GEL; USD; EUR
- Primary annual contribution – 1000 units;
- Duration of a deposit – from 1 to 2 years;
- Accrual of interest profit – annually, calculating 365 days in a year;
- Certificate duration shall not be terminated before the due date;
- Adding funds to a certificate is not permitted;
- Giving out a certificate to other party is permitted (in accordance with Credo Bank’s procedures).
- Purchase of a certificate – free of charge;
- Deposit certificate will accrue higher interest profit than the amount on any deposit account;
- Deposit certificate can be provided to any other party anytime.
In accordance with the Law of Georgia "On the Deposit Insurance System", from January 1, 2024, funds available in the deposit/account of all deposit holders, regardless of the number of deposits/accounts, is insured in each commercial bank and microbank and will be reimbursed by the Deposit Insurance Agency within the limit of 30,000 GEL. The funds in all accounts of all deposit holders in commercial banks and microbanks is automatically insured without any additional cost. For more information, see the website of the Deposit Insurance Agency: www.diagency.ge
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| Interest rate, if withdrawn at the end of term - GEL | GEL | USD | EUR | |||
| NOMINAL | EFFECTIVE | NOMINAL | EFFECTIVE | NOMINAL | EFFECTIVE | |
| 12 months | 10.65% | 10.65% | 2.60% | 2.60% | 2.50% | 2.50% |
| 24 months | 10.75% | 10.23% | 3.10% | 3.05% | 2.80% | 2.76% |
| 36,48,60 months | Individually negotiated | Individually negotiated | Individually negotiated | Individually negotiated | Individually negotiated | Individually negotiated |
| Interest rate, if withdrawn at the end of each month - GEL | GEL | USD | EUR | |||
| NOMINAL | EFFECTIVE | NOMINAL | EFFECTIVE | NOMINAL | EFFECTIVE | |
| 12 months | 9.60% | 10.03% | 2.55% | 2.58% | 2.45% | 2.48% |
| 24 months | 9.65% | 10.09% | 3.05% | 3.09% | 2.75% | 2.78% |
| 36,48,60 months | Individually negotiated | Individually negotiated | Individually negotiated | Individually negotiated | Individually negotiated | Individually negotiated |
*The bank is not liable to prematurely re-compensate the certificate of deposit with the terms above.