3 month to 6 months
min. – 500 AZN
max. – unlimited
As of February 1, 2016, accrued interest on individuals' deposits is exempt from income tax for a period of 7 (seven) years.
Minimum decreased amount:
Premature withdrawal of deposit:
No interest is paid on prematurely withdrawn deposits or their decreased portion
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.
As of July 1, 2019, the maximum interest rate on deposits in national currency was set at 10% and 2.5% in foreign currency. As of July 1, 2019, the maximum interest rate on deposits is 15% in national currency and 3% in foreign currency.
Deposits accepted by banks Deposit Insurance Fund as of March 02, 2016 are fully insured and fully compensated within 4 (four) years with the maximum interest rate set by the Fund's Board of Trustees.