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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Interest rate, if withdrawn every 12 months - GEL Nominal interest rate Effective interest rate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 12.00% 12,00%
24 months 12.55% 11.85%
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Interest rate, if withdrawn at the end of each month - GEL Nominal interest rate Effective interest rate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 11.50% 12.30%
24 months 12,00% 12,68%
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.