Azerbaijan, Baku, May 12 / Trend /
Improving the retail deposits on offer, Unibank OJSC is optimising the interest rates on the retail deposits in accordance with the market conjuncture.
The interest rate on the Term deposits in AZN will increase from 15 May: Unibank offers 12% to 17% annually depending on the accrual method for the deposits made for 6 months to 2 years. The minimum Term deposit amount allowable is AZN/USD/EUR 1,000.
THE TERM DEPOSIT INTEREST RATES
|
DEPOSIT TERM |
INTEREST ACCRUAL |
|||||||||||
|
Monthly |
Semi-annually |
Annually |
At maturity |
|||||||||
|
AZN |
USD |
EUR |
AZN |
USD |
EUR |
AZN |
USD |
EUR |
AZN |
USD |
EUR |
|
|
6 months |
12% |
12% |
- |
- |
- |
- |
- |
- |
- |
12.6% |
12.6% |
- |
|
12 months |
14% |
14% |
9% |
14.5% |
14.5% |
9.2% |
- |
- |
- |
15% |
15% |
9.4% |
|
18 months |
14.5% |
14,5% |
9% |
14.8% |
14.8% |
9.2% |
- |
- |
- |
16% |
16% |
9.6% |
|
24 months |
15% |
15% |
9% |
15.5% |
15.5% |
9.2% |
16% |
16% |
9.4% |
17% |
17% |
9.8% |
Every customer depositing AZN/USD/EUR 1,000 to 5,000 will get a free-of-charge Visa Electron/MC Maestro plastic card. If the deposit equals AZN/USD/EUR 5,000 to 20,000, the depositor will get a free-of-charge Visa Classic/MC Standard plastic card from the Bank. If the term deposit equals AZN/USD/EUR 20,000 to 50,000, the depositor will get a free-of-charge Visa Gold/MC Gold plastic card, and if the deposit exceeds AZN/USD/EUR 50,000, then the depositor can expect to get a free Visa Platinum/MC Platinum plastic card. Besides, the depositor can draw a credit line from Unibank to 90% of the deposited amount.
The Bank is also optimising the Progressive and Accumulation deposit interest rates, where the minimum deposit amounts allowable are AZN/USD/EUR 500 and AZN/USD/EUR 200 respectively. All the Progressive deposit holders will be able to draw a credit line from Unibank to 90% of the deposited amount and under soft interest rates. It should be mentioned that the Accumulation deposit permits replenishment of the once-made deposit in the Bank as well as re-capitalisation of the accrued interest; important to note, not only the original deposit but also the additional amounts entered during the contract term will carry the interest rate. If the additional amounts to replenish an Accumulation deposit are entered every month (with the minimum monthly instalment equalling AZN/USD/EUR 50), then the customer will be paid the 2% bonus.
PROGRESSIVE DEPOSIT INTEREST RATES
|
DEPOSIT TERM |
AZN |
USD |
EUR |
|
Up to 3 months |
7% |
7% |
- |
|
3 to 6-ти months |
8% |
8% |
5% |
|
6 to 9-ти months |
10% |
10% |
6% |
|
9 to 12-ти months |
11% |
11% |
7% |
|
12 months |
14% |
14% |
9% |
ACCUMULATION DEPOSIT INTEREST RATES
|
AZN |
USD |
EUR |
|
12%+2% bonus |
12%+2% bonus |
8%+2% bonus |
It should be remembered that Unibank is a member of the Azerbaijan Deposit Insurance Fund (ADIF) since 30 July 2007. The deposit portfolio of the Bank equalled AZN 89,353 mn including the retail deposits totalling at AZN 56,049 mn in January-March 2009.
Official rate on May 12 is 0.8034 AZN/USD.
Do you have feedback? Contact our journalist at: [email protected]