Annual interest rate
6% AZN
1% USD
0.5% EUR
Note: Interest rate on a amount over 100 000 EUR is negotiated
Term of deposit
12 months
Minimal amount
1000 AZN/USD/EUR
Маximal amount
100 000 EUR
Currency
AZN/USD/EUR
Calculation and payment of interest
Savings contact is prolonged for the next year, if not withdrawn when the contract term ends. (until the child becomes 18 years old). Savings interest is added to the main amount and capitalized.
Replenishment of the account
No restriction
Partial withdrawal of deposit
Not allowed
Early withdrawal of deposit
In case of withdrawal of deposit ahead of schedule amount of the earlier paid interest will be deducted from the primary amount of the deposit. Interest for the actual term of deposit is calculated as follows:
|
CURRENCY |
ANNUAL INTEREST RATE |
||
|
UP TO 3 MONTHS |
6 - 9 MONTHS |
6-12 MONTHS |
|
|
AZN |
interest not accrued |
2% |
2% |
|
USD |
- |
interest not accrued |
0.5% |
|
EUR |
- |
interest not accrued |
0.25% |
Additional conditions
The deposit is opened on the name of a child under 18. When the child is 14, he/she can carry out operations with the deposit based on the power of attorney from parents.