Manat deposit

As of February 1, 2016, accrued interest on individuals' deposits is exempt from income tax for a period of 7 (seven) years.

Increasing deposit:

not applicable

Decreasing deposit:

applicable

Minimum decreased amount:

100 AZN

Premature withdrawal of deposit:

No interest is paid on prematurely withdrawn deposits or their decreased portion

Automatic prolongation

In the event if the depositor does not request the deposit on the day following the end of maturity, the deposit shall be automatically prolonged on the same tarrifs and terms and conditions if the same tariffs and terms and conditions are effective, and on condition of monthly interest disbursement – in all other cases. In the absence of analogical product, interest rates shall be governed on the basis of Bank’s service tarrifs and terms and conditions.

Note: In the event if the total residual amounts of all of customer’s deposit is equal to 500,000 conventional unit is subject to consolidation with the next added deposit amount, then annual interest rate for that amount can be revised unilateraly by the Bank and set at a different rate than those indicated in the tarrifs list.

From June 1, 2020, the maximum annual interest rate on protected deposits in national currency is set at 12%, and in foreign currency - at 2.5%. Interest on deposits is paid in the amount calculated before the date of the insured event.

From March 2, 2016, deposits accepted at the member banks of the Fund are fully insured and fully reimbursed for a period of 4 (four) years and 9 (nine) months within the maximum annual interest rate established by the Board of Trustees of the Fund.