Shared Deposit
A shared deposit presents CREDO Bank’s innovative product which has no analogue on the Georgian banking market. It unites two people’s common goal and it is possible to put on any volume of deposits of any amount, collect jointly with small amounts, receive high interest and dispose of the funds jointly.
A shared deposit gives you an opportunity to collect money during the desired period together with your friend, spouse, child, future or existing business partner or simply your relative for travelling, receiving education, starting or improving joint business, covering marriage expenses or funding other needs and at the same time receive high interest!
- Deposit period – From 6 to 24 months
- Deposit currency - GEL/USD/EURO
- Minimum amount to open the deposit - 20 GEL/USD/EURO
- The minimum monthly payment to the deposit can be omitted for two months in succession, from the third month the deposit shall be automatically violated and the amount shall be transferred to the account indicated in advance.
- Receiving the interest – at the end of the deposit period
- Unlimited amount of money to be put onto the deposit
- Joint account to put money onto the deposit. Money can be added to the deposit from the Bank’s cash desk as well as from the Internet and mobile bank and through pay boxes.
- The deposit can be violated/disposed of only on the basis of the joint consent.
- The best term in case of earlier termination of the deposit opened in GEL.
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
| TERM | GEL | USD | EUR | |||
| NOMINAL | EFFECTIVE | NOMINAL | EFFECTIVE | NOMINAL | EFFECTIVE | |
| 6-8 months | 10.35% | 10.58% | 2.35% | 2.36% | 1.60% | 1.61% |
| 9-11 months | 10.65% | 10.76% | 2.45% | 2.46% | 1.75% | 1.75% |
| 12 months | 10.80% | 10.82% | 2.60% | 2.60% | 2.50% | 2.50% |
| 13-14 months | 10.80% | 10.74% | 2.70% | 2.70% | 2.50% | 2.50% |
| 15-17 months | 10.80% | 10.65% | 2.80% | 2.79% | 2.65% | 2.64% |
| 18-20 months | 10.80% | 10.53% | 2.90% | 2.88% | 2.80% | 2.78% |
| 21-23 months | 11.00% | 10.60% | 3.00% | 2.97% | 2.80% | 2.77% |
| 24 months | 11.20% | 10.70% | 3.10% | 3.06% | 2.80% | 2.76% |