...

Baku branch of Bank Melli Iran does not plans to revise tariff policy in 2011

Business Materials 20 October 2010 14:40 (UTC +04:00)

Azerbaijan, Baku, Oct. 20 / Trend N.Ismayilova /

The Baku branch of Bank Melli Iran will adhere to current interest rates on deposits and loans in 2011, Baku branch deputy director Anar Ibrahimov has said today.

"The bank's current interest rates are more acceptable to us. In addition, the bank takes into account the interests of its customers, so we do not plan to change the rates on loans and deposits," Ibrahimov said.

"The bank may review the amount of crediting in the long-term," he said. "However, the bank's management does not intend to make changes in the tariff policy."

The bank issues deposit accounts in three currencies - manat, USD and euro for a period of 1-3 years. Ibrahimov said the bank attracts deposits at the annual seven percent in euros, 11 percent - in manat and USD. For two years, the bank attracts deposits in manat to 12 percent per annum and three - on 12.5 percent.

Today the bank allocated loans at a rate of 23 percent for a term of about three years. The Bank also allocated loans to purchase a car on the initial contributions payment to 30 percent at an annual rate of 26 percent for a period of two years. Maximum loan amount is $10,000.

The official exchange rate is 0.8014 manat to $1 Oct. 20.

Do you have any feedback? Contact our journalist at: [email protected]

Tags:
Latest

Latest