1 month to 6 months
min. – 500 AZN
max. – unlimited
Withholding tax is applicable without exception to interest income of individual deposits received from 01-11 January 2015, and for the period after 11 January 2015 a withholding tax of 10% is applicable to individual depositors’ annual income in the portion exceeding 500 manats.
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No interest is paid on prematurely withdrawn deposits or their decreased portion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.
According to resolution of Azerbaijan Deposits Insurance Fund’s Trustee Board maximum limit of annual interest rates for deposits insured by the Fund as of 24 February 2015 is set at 12% per annum (up to 30,000 AZN).