12:39 - 13.12.2022

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December 13, Fineko/abc.az. The conditions of Azerbaijani banks’ deposits in national currency for the period of 12 months as of 12.12.2022 have become known.

ABC.AZ reports that currently the highest deposit rates for 12 months are offered by Bank VTB, Bank of Baku, Günay Bank, Muganbank, Yelo Bank, Rabitabank, Turanbank and Unibank.

The upper limit of the annual interest rate on protected deposits in national currency is set at 12%, and in foreign currency – 2.5%.

That is, deposits made to the bank at rates above 12% in national currency and 2.5% in foreign currency are not considered protected deposits and are not subject to reimbursement by the Deposit Insurance Fund. From 5 April 2021 each participant is paid compensation for an insured deposit in the bank of no more than 100,000 manats.