Child Deposit
The high-rated Children’s Deposit by Credo Bank is dedicated for those who want’s to take care of the child’s education and successful future since his/her early age.
Adding the desirable amount to the Children’s Deposit is available any time and any amount.
Most importantly, interest is accrued on the deposit even in case if you can’t add the amount during some months.
- Deposit term: before the child reaches the full legal age, minimum – 2, maximum – 18 years
- Deposit currency - GEL/USD/EUR
- The minimum amount to open the deposit -50 GEL/USD/EUR
- Minimum/maximum amount of the deposit: unlimited
- In case of early breach, the deposit accrues full interest on each completed year
Violation of the deposit by the administrator is possible in accordance with Article 186 point 11 of the Civil Code:
- If the amount on the deposit together with the interest receivable does not exceed a total of GEL 1,000 or its equivalent in foreign currency
- In case of any amount, if the manager submits the relevant court permit (ruling)
| Interest Rate | GEL | USD | EUR |
| NOMINAL | 11.40% | 2.60% | 1.70% |
| Effective % interest | 10.82% | 2.57% | 1.69% |
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