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Azerbaijan's largest bank reduces interest rates on deposits

Business Materials 22 October 2015 19:50 (UTC +04:00)
The International Bank of Azerbaijan has reduced the interest rates on deposits since October 1, the bank said.
Azerbaijan's largest bank reduces interest rates on deposits

Baku, Azerbaijan, Oct. 22

By Anvar Mammadov - Trend:

The International Bank of Azerbaijan has reduced the interest rates on deposits since October 1, the bank said.

According to the statement, the new interest rates ranging from 2 to 6.75 percent depending on the placement period, currency and frequency of interest payments.

Deposit term

In manat

In dollars

Interest payment

monthly interest payment

annual interest payment

monthly interest payment

annual interest payment

120 months

6.5%

6.75%

5.5%

5.75%

84 months

6.0%

6.25%

5.0%

5.25%

60 months

5.5%

5.75%

4.5%

4.75%

48 months

5.0%

5.25%

4.0%

4.25%

36 months

4.5%

4.75%

3.5%

3.75%

24 months

4.0%

4.25%

3.0%

3.25%

18 months

3.5%

3.75%

2.5%

2.75%

12 months

3.0%

3.25%

2.0%

2.25%

IBA was founded in 1992. It is the largest bank of Azerbaijan. Currently, a 51.07 percent stake in the capital of the bank is owned by the state, 48.93 percent - by private shareholders.

Edited by CN

follow the author on Twitter: @Anvar_Mammadov

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