Credo Bank’s high-interest-rate deposit for children has been designed for those clients, who would like care for their child(ren)’s education and successful future from a very early age of their offspring.
You may add any amount of money to your deposit at any time. As exciting news, accrual of interest rate on deposit will take place even if you are unable to add money in any of the months.
- High-interest rate;
- Accrual of an interest profit annually;
- Depositing cash without an obligatory schedule;
- Possibility of accrual upon smaller payment.
- Deposit term: until a child turns 18, minimum 2 years, maximum 18 years of age;
- Currency of a deposit – GEL/USD/EUR;
- An amount required for opening a deposit – 50 GEL/USD/EUR;
- A maximum/minimum amount deposited on a deposit – unlimited;
- Accessing a deposit account prior to the due date will result in accruing a full interest profit per each year commenced.
In case of infringement of a deposit by an account holder, amount prior to the due date will be made possible upon article 186 (11) of the administrative code of Georgia:
- In case, an amount accrued on a deposit, combined with an interest profit, does not exceed 1000 GEL or equivalent in a foreign currency;
- With regard to any amount, in case an account holder provides a corresponding court ordinance (decree).
|Effective % interest||13.28%||2.18%||1.05%|
Any physical person with a deposit account, regardless of an amount on his/her deposit account/accounts at each commercial bank, will be eligible to 15, 000 GEL of reimbursement from the Deposit Insurance Agency; any amount exceeding 15, 000 GEL will be reimbursed according to the procedures set forth by incumbent legislation. For further information, please, visit the web-page of the LEPL Deposit Insurance Agency: diagency.ge