"QIRMIZI" DEPOSİT
1. “Qırmızı ” type of deposit can be accepted in Azerbaijani manat and US dollar.
2. This deposit is accepted from 1,2 or 3 years duration.
3. “Qırmızı - Prudent” type of deposit can be placed on behalf of a third person.
4. The minimal amount of accepted deposit is AZN/USD 100.
5. “Qırmızı” type of deposit can be increased any time by placing additional amount of money. The minimal amount of added money is AZN/USD 50.
6. “Qırmızı” type of deposit ensures following annual interest rates:
DurationAZN USD 12 month 10,5% 10% 24 month 11% 10,5% 36 month 11,5% 11%
7. The amount of interest percentage for “Qırmızı” type of deposit is defined at the basis of fixed annual interest rate. The deducted amount of the interest percentage is added to the whole amount of deposit.
8. The amount of interest percentage added to the volume of deposit is defined at the basis of fixed annual interest rate applied to the deposit.
9. The defined amount of interest percentage can be withdrawn jointly with the whole amount of deposit only.
10. The holder of “Qırmızı” type of deposit can obtain a loan in the form of credit equal to 70% of total deposit for duration of one year.
In this case:
- Due to loan use, interest rate is not deducted up to the thirtieth day of the month in which the loan line is opened;
- In case of non payment of a loan, annual interest rate is defined at the level of 25% starting from the first day of next month;
- Loan line is kept open till the date of expiry of the deposit contract.
During the validity period of the contract, once a loan line is used several times, the same rules apply each time.
If interest yield is not paid for using a loan line, it can be withheld from annual percentage yield or deposit of a customer.
11. If “Qırmızı” type of deposit is withdrawn earlier, interest percentage per deposit is defined at annual 2% rate for a deposit kept in the Bank for 180 days and 50% of interest percentage amount for a deposit kept in the Bank for more than 180 days.
12. Following expiry of the duration of contract, the deposit contract is extended automatically at the basis of interest rate valid for the Bank in that specific period of time.
Deposit calculator
