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Standard CD service terms and conditions are based on the “Regulation for standard certificates of deposit for commercial banks” approved by the President of the National Bank of Georgia.
 

Certificate of Deposit – standard or/and non-standard certificate(s) of deposit issued by the Bank in dematerialized form, defining the Bank’s obligation to pay the holder of the certificate of deposit, on the day specified by the Conditions of Sale and Purchase, the certificate of deposit settlement amount (cost of the sale and purchase);
 
Bank of Georgia is issuing two types of CDs - discount and coupon. 
 
Discounting Certificate of Deposit – type of the Certificate of Deposit, in case of purchase of which the settlement amount payable by the Client under the Conditions of Sale and Purchase will be defined on preferable terms as compared with the face value.  The volume of accruable Interest Rate shall be defined in accordance with the amount of the difference between the face value and settlement amount (cost of the sale and purchase), which the Client will receive together with the settlement amount paid by him/her at maturity of the Certificate of Deposit;
 
Interest-Bearing Certificate of Deposit – the type of Certificate of Deposit, in case of purchase of which the Client shall pay the settlement amount envisaged by the Conditions of Sale and Purchase which in the moment of initial placement of the Certificate of Deposit represents the face value of the Certificate of Deposit. Interest rate will be accrued to the aforesaid amount for the period defined by the Agreement, which the Client will receive at intervals envisaged by the Conditions of Sale and Purchase, while the face value – at maturity of the Certificate of Deposit.
 
Minimum CD issue amount is GEL 5,000 or foreign currency equivalent. After the expiration of the deposit term, cash withdrawal of the CD amount in the certificate registration branch office is free of charge. In all other cases, the withdrawal fee is determined according to the standard tariff applicable on the transaction date for cash withdrawals from a regular bank account. If CD is sold to a third person, the disposal fee of 0.1% of the total CD value, minimum GEL 20, is charged. 

 

 

 

CD interest rates

Term Rate GEL USD EUR GBP
3 Nominal 7.35% 1.75% 0.00% 0.30%
Effective 7.55% 1.76% 0.00% 0.30%
6 Nominal 8.10% 2.15% 0.00% 0.55%
Effective 8.26% 2.16% 0.00% 0.55%
9 Nominal 8.70%
2.80%
0.20% 1.25%
Effective 8.79% 2.81% 0.20% 1.25%
12 Nominal 9.25%
3.40%
0.85% 1.75%
Effective 9.25% 3.40% 0.85% 1.75%
18 Nominal 10.00%
3.95%
1.15% 2.20%
Effective 9.76% 3.91% 1.15% 2.19%
24 Nominal 10.55%
4.45%
1.50% 2.55%
Effective 10.04% 4.35% 1.49% 2.52%
36 Nominal 11.25%
5.25%
2.05% 3.10%
Effective 10.18% 5.00% 2.01% 3.01%
48 Nominal 11.90% 5.75% 2.50% 3.65%
Effective 10.22% 5.31% 2.41% 3.47%
60 Nominal 12.25% 6.10% 2.80% 4.00%
Effective 10.02% 5.47% 2.66% 3.71%
 

Term Rate GEL USD EUR GBP
3 Nominal 7.30% 1.75% 0.00% 0.30%
Effective 7.55% 1.76% 0.00% 0.30%
6 Nominal 8.00% 2.15% 0.00% 0.55%
Effective 8.30% 2.17% 0.00% 0.55%
9 Nominal 8.45%
2.75%
0.20% 1.20%
Effective 8.78% 2.78% 0.20% 1.21%
12 Nominal 8.85%
3.35%
0.85% 1.70%
Effective 9.22% 3.40% 0.85% 1.71%
18 Nominal 9.35%
3.85%
1.15% 2.10%
Effective 9.76% 3.92% 1.16% 2.12%
24 Nominal 9.60%
4.30%
1.45% 2.40%
Effective 10.03% 4.39% 1.46% 2.43%
36 Nominal 9.75%
4.85%
1.95% 2.95%
Effective 10.20% 4.96% 1.97% 2.99%
48 Nominal 9.75%
5.20%
2.35% 3.40%
Effective 10.20% 5.33% 2.38% 3.45%
60 Nominal 9.90% 5.35% 2.60% 3.65%
Effective 10.36% 5.48% 2.63% 3.71%
 

 

 

Explanations:
 
  • Coupon type – coupon payment on a monthly basis;
  • Term - given in months;
  • CD buy-back yield is the sum of the issuance interest rate (which corresponds to the remaining term of the CD) from the table above and 2% p.a. The bank is entitled to amend or cancel the buy-back terms and conditions with its sole discretion at any moment, by changing these terms on this website;
  • The yield for Deposits open in  AUD, CAD, CZK, HKD, NZD, PLN, SGD is same as for Deposits open in GBP;
  • The yield for Deposits open in CHF,  HUF, ILS, NOK, JPY, SEK, DKK is same as for Deposits open in EUR;
  • The yield for Deposits open in AED, AMD, AZN, BYR, CNY, INR, KZT, RUB, TRY is same as for Deposits open in USD;
 
In case of disposal of a CD, if the holder benefits from a capital gain, then the holder has to declare this gain and pay tax according to the Georgian Legislation