Azerbaijan, Baku, June 25 / Trend /
Bank of Azerbaijan has informed that its new product, Rahat Depozit (it was commissioned on June 1, 2009 and succeeded to win impressive popularity among the country's population) meets the conditions of the recently-adopted amendments to the Law on Insurance of Deposits, the bank said on June 25
According to the Bank, the amendments say that the Azerbaijan Deposit Insurance Fund (BoA is its member) insures deposits with sum of up to 30,000 manat with deposit rate of no more than 15 percent.
Interest rate of Rahat Depozit is 14 percent. By placing a deposit in accordance with Bank's new product, the customer will be able to: receive dividends monthly; can enjoy a credit line in the amount equal to 30%, 50 percent or 70 percent of deposit sum; pay interests of 12 percent on credit line, i.e. credit rate is less than deposit rate of 14 percent; insure his deposit risking by nothing.