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Shared Deposit

A shared deposit account is an innovative product of Credo Bank, which is a one-of-a-kind on the Georgian market. It serves as a unification of two people's common aspirations, which enables them to accrue money without limits; making small contributions will lead to harvesting a greater benefit and joint management of the sum.

A shared deposit account empowers you and your friend, spouse, daughter/son, future, or an incumbent business partner - even an acquaintance, to save money throughout the desired period. You may channel an amount saved to travel, education, or starting and/or enhancing your business, paying off wedding costs or other reasons, while enjoying a high-interest profit.

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interest
Accrued interest
Terms
  • Opening of the deposit account - free of charge;
  • Duration of an account - from 6 to 24 months;
  • The currency of an account - GEL, USD, and Euro;
  • A minimal amount required for opening an account - 20 (in the respective currency).
  • A minimum monthly payment to the deposit can be omitted during two months successively, from the third month the deposit will be automatically violated and the amount will be transferred onto the account indicated beforehand.
Advantages
  • Unlimited amount of sum added;
  • A unified account for topping up the deposit account, enabling you to add amount via cash office as well as internet and/or mobile bank, including automated pay boxes;
  • Infringement/management of the savings account is possible only upon unified permission;
  • The best possible terms for suspending a savings account before the due date.

 

Any physical person with a deposit account, regardless of an amount on his/her deposit account/accounts at each commercial bank, will be eligible 15, 000 GEL of reimbursement from the Deposit Insurance Agency; any amount exceeding the 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

INTEREST WITHDRAWAL AT THE END OF TERM
TERM GEL USD EUR
NOMINAL EFFECTIVE NOMINAL EFFECTIVE NOMINAL EFFECTIVE
6-8 months 12.10% 12.41% 1.05% 1.05% 0.10% 0.10%
9-11 months 12.10% 12.24% 1.20% 1.20% 0.15% 0.15%
12 months 12.35% 12.38% 1.35% 1.35% 0.45% 0.45%
13-14 months 12.55% 12.46% 1.40% 1.40% 0.50% 0.50%
15-17 months 12.55% 12.35% 1.50% 1.50% 0.55% 0.55%
18-20 months 12.80% 12.42% 1.55% 1.54% 0.65% 0.65%
21-23 months 13.00% 12.44% 1.65% 1.64% 0.70% 0.70%
24 months 13.10% 12.43% 1.70% 1.69% 0.75% 0.75%