Deposit Insurance
Bank Respublika is a member of the Deposit Insurance Fund, established according to the state law “On deposit insurance”. All deposits at Bank Respublika are insured based on conditions and regulations of the Fund.
Conditions for early/premature withdrawal of deposit
The depositor may withdraw his deposit from the Bank before maturity. In this case, the Bank will return the whole amount of the deposit in no more than 5 business days, which is also reflected in the deposit agreement.
Accrued interest in event of premature withdrawal of the deposit will be paid to the client depending on the actual term of the deposit. If the actual term of the deposit is:
- 90 days and less – accrued interest will not be paid
- 91 – 365 days – 10 % of the accrued interest will be paid
- 366 days and more – 20% of the accrued interest will be paid
Interest rate for deposits in AZN
|
Months |
Monthly |
Upon maturity |
| 6 months - 11 months (including) | 4.0% (annual) | 5.0% (annual) |
|
12 months - 23 months (including) |
9% (annual) |
9.5%(annual) |
| 24 months - 36 months (including) | 9.5% (annual) | 10% (annual) |
Interest rate for deposits in USD
|
Months |
Monthly |
Upon maturity |
| 6 months - 11 months (including) | 0.2% (annual) | 0.2% (annual) |
| 12 months - 23 months (including) | 2.5% (annual) | 2.5% (annual) |
| 24 months - 36 months (including) | 3.0% (annual) | 3.0% (annual) |
* The interest rate for amounts over 500 thousand AZN is determined in an individual income statement
