Interest rate on deposits in banks increased by 2%

12:50 - 7.05.2020

May 7, Fineko/abc az. On the recommendation of the Financial Stability Council of the Azerbaijan Deposit Insurance Fund's Board of Trustees and in agreement with the Central Bank the maximum rate for deposits in national currency covered by insurance has been increased up to 12% from the current 10% starting from 1 June.

ABC.AZ reports with reference to the ADIF that the upper limit of the annual interest rate on protected deposits in foreign currency in ADIF member banks is 2.5%.

Depositors do not pay for deposit insurance, insurance premiums are paid only by banks.

 

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